Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0077%/8h= +8.5% APRpaid last 24h +0.045%

Price spread now: Binance against Deribit−0.041%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.041% cheaper against Deribit than usual: you would sell low and buy high (spread −0.041% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 42 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit JUP_USDC-PERPETUAL	0.2936	0.0023	pay 0.0003% / 1h	8m 23s	$53K	$17K	10x
Short	Binance JUPUSDT	0.2935	0.0100	get 0.0050% / 4h	1h 08m	$16.1M	$39.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpFee BinancebpOrdersPrice spread, now −0.041%Rate

Funding earned: $16.27
Price spread: −0.041% → 0.000%: −$4.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$4.82
Costs to cover: 0.170%
Break-even: 9.1 days

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 3 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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 3 min ago	1.70 bp	10.0 bp −$10	25.3 bp −$253	140.5 bp −$14.1K	doesn't fit

Deribit: 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	−0.5000%	1h	0.2906	−1.029%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2935	−0.029%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2935	−0.047%	$280K	$138K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2935	−0.032%	—	—	150x	as long as short
Deribit JUP_USDC-PERPETUALlong	+0.0023%	1h	0.2936	long leg	$53K	$17K	10x
dYdX JUP-USD	+0.0035%	1h	0.2935	−0.027%	$39K	$16K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2935	−0.041%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2938	+0.054%	$760K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2934	−0.062%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2935	−0.049%	$572K	$490K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2937	+0.024%	$18.1M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2935	−0.029%	$106K	$280K	10x	as long as short
Binance JUPUSDTshort	+0.0100%	4h	0.2935	−0.041%	$16.1M	$39.0M	75x
Bybit JUPUSDT	+0.0100%	4h	0.2933	−0.109%	$15.9M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2935	−0.041%	$4.1M	$10.4M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2936	−0.007%	$701K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2934	−0.075%	$6.7M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2936	−0.007%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2936	−0.007%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2934	−0.075%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2938	+0.044%	$972K	$227K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2931	−0.179%	$710K	$531K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2936	−0.002%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2934	−0.075%	$162K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2936	+0.007%	$92K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2936	−0.007%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2929	−0.245%	$110K	$43K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2934	−0.058%	$61K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2934	−0.063%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0208%	1h	0.2936	−0.003%	$26K	$6K	5x	as long as short
Phoenix JUP	+0.0244%	1h	0.2938	+0.065%	$98K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2940	+0.146%	$74K	$48K	50x	as long as short
Extended JUP-USD	+0.0320%	1h	0.2935	−0.052%	$2.2M	$572K	25x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2938	+0.061%	$823K	$374K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0375%	1h	0.2937	+0.033%	$579K	$418K	20x	as long as short
Phemex JUPUSDT	+0.0497%	4h	0.2940	+0.129%	$2.9M	$3.0M	50x	as long as short