Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.032%

Price spread now: Phemex against Coinbase International−0.220%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 Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

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 −$3 a day on $10k at the current rate, and Phemex is 0.220% cheaper against Coinbase International than usual: you would sell low and buy high (−$22 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	0.2960	0.0208	pay 0.0026% / 1h	52m 52s	$75K	$50K	50x
Short	Phemex JUPUSDT	0.2954	0.0100	get 0.0050% / 4h	52m 52s	$2.9M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.220%Rate

Funding earned: −$22.68
Price spread: −0.220% → 0.000%: −$21.96
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$66.64
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Phemex: live order book, 6 min ago. 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 Phemex live order book, 6 min ago	5.08 bp	24.2 bp −$24	doesn't fit	doesn't fit	doesn't fit

Coinbase International: 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 36 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	−0.4661%	1h	0.2910	−1.706%	$3K	$206K	5.5x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0293%	1h	0.2948	−0.439%	$54K	$16K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2948	−0.416%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2948	−0.414%	$281K	$147K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2949	−0.381%	—	—	150x	as long as short
dYdX JUP-USD	+0.0003%	1h	0.2952	−0.273%	$39K	$26K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	−0.456%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2949	−0.391%	$590K	$489K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2949	−0.375%	$780K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2947	−0.451%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2948	−0.414%	$595K	$502K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2950	−0.358%	$18.7M	$9.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2950	−0.361%	$114K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2945	−0.529%	$16.2M	$42.4M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2943	−0.591%	$15.8M	$18.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2944	−0.557%	$4.0M	$12.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	−0.118%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2950	−0.355%	$732K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2946	−0.490%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2948	−0.422%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2946	−0.490%	$5.7M	$5.8M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2947	−0.456%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2948	−0.439%	$977K	$247K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2960	−0.016%	$722K	$693K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2955	−0.170%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2945	−0.524%	$156K	$265K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2951	−0.331%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2948	−0.422%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.490%	$111K	$49K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2954	−0.220%	$2.9M	$3.2M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2946	−0.496%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2948	−0.429%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTXlong	+0.0208%	1h	0.2960	long leg	$75K	$50K	50x
Phoenix JUP	+0.0271%	1h	0.2965	+0.149%	$99K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2945	−0.524%	$844K	$382K	50x	as long as short
Extended JUP-USD	+0.0408%	1h	0.2944	−0.559%	$2.2M	$502K	25x	as long as short