Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0172%/8h= −18.9% APRpaid last 24h −0.040%

Price spread now: Orderly against Coinbase International−0.047%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Orderly is 0.047% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International JUP-PERP-INTX	0.2949	0.0272	pay 0.0034% / 1h	32m 58s	$74K	$53K	50x
Short	Orderly PERP_JUP_USDC	0.2948	0.0100	get 0.0050% / 4h	2h 32m	$31K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee OrderlybpOrdersPrice spread, now −0.047%Rate

Funding earned: −$36.2
Price spread: −0.047% → 0.000%: −$4.75
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$56.94
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Orderly: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Coinbase International and Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

JUP on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective JUP/USDC PERP	−0.4347%	1h	0.2901	−1.641%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2948	−0.055%	$281K	$149K	10x	as long as short
Bybit JUPUSDT	−0.0309%	4h	0.2947	−0.095%	$15.8M	$20.4M	50x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2946	−0.099%	$16K	—	100x	as long as short
OKX JUP-USDT-SWAP	−0.0077%	4h	0.2951	+0.054%	$4.0M	$14.6M	50x	as long as short
Gate JUP_USDT	−0.0028%	4h	0.2948	−0.047%	$727K	$1.5M	75x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2948	−0.064%	$590K	$526K	20x	as long as short
Variational Omni JUP	−0.0015%	4h	0.2943	−0.232%	$718K	$766K	—	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2947	−0.078%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2947	−0.074%	—	—	150x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0020%	1h	0.2952	+0.072%	$39K	$29K	5x	as long as short
01 Exchange JUPUSD	+0.0056%	1h	0.2948	−0.041%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2946	−0.131%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0088%	8h	0.2948	−0.056%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2950	+0.007%	$780K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDCshort	+0.0100%	4h	0.2948	−0.047%	$31K	$43K	10x
Nado JUP-PERP	+0.0100%	1h	0.2946	−0.115%	$599K	$605K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2949	+0.003%	$18.8M	$11.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2948	−0.052%	$114K	$323K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2949	−0.014%	$16.3M	$46.9M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.450%	$61K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2949	−0.014%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2948	−0.047%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2948	−0.047%	$5.7M	$6.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2949	−0.014%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2947	−0.088%	$976K	$237K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2950	+0.017%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2948	−0.047%	$157K	$302K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2950	+0.014%	$93K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2942	−0.251%	$111K	$55K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2944	−0.166%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2937	−0.437%	$97K	$402K	10x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2949	−0.023%	$2.2M	$486K	25x	as long as short
Coinbase International JUP-PERP-INTXlong	+0.0272%	1h	0.2949	long leg	$74K	$53K	50x
Phemex JUPUSDT	+0.0323%	4h	0.2951	+0.054%	$2.9M	$3.6M	50x	as long as short