Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h +0.040%

Price spread now: Bybit against Deribit−0.071%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 Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 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 −$1 a day on $10k at the current rate, and Bybit is 0.071% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.210%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit JUP_USDC-PERPETUAL	0.2939	0	get 0.0000% / 1h	45m 15s	$54K	$16K	10x
Short	Bybit JUPUSDT	0.2937	−0.0021	pay 0.0011% / 4h	1h 45m	$15.7M	$19.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$4.49
Price spread: −0.071% → 0.000%: −$7.15
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.63
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Bybit: 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 Bybit live order book, 3 min ago	1.71 bp	13.3 bp −$13	35.3 bp −$353	211.3 bp −$21.1K	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	0.2904	−1.194%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2938	−0.022%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2935	−0.147%	$280K	$147K	10x	as long as short
Backpack JUP_USDC_PERP	−0.0106%	1h	0.2935	−0.153%	$974K	$231K	10x	as long as short
Bybit JUPUSDTshort	−0.0021%	4h	0.2937	−0.071%	$15.7M	$19.3M	50x
Deribit JUP_USDC-PERPETUALlong	0.0000%	1h	0.2939	long leg	$54K	$16K	10x
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2938	−0.030%	—	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0012%	4h	0.2939	−0.003%	$4.0M	$12.6M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2939	−0.003%	—	—	20x	as long as short
dYdX JUP-USD	+0.0069%	1h	0.2934	−0.158%	$38K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0076%	4h	0.2933	−0.191%	$715K	$698K	—	as long as short
Paradex JUP-USD-PERP	+0.0096%	8h	0.2937	−0.057%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2938	−0.024%	$777K	$1.1M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2939	−0.012%	$594K	$509K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2943	+0.122%	$18.7M	$10.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2938	−0.026%	$113K	$299K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2939	−0.019%	$16.2M	$43.5M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2939	−0.016%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2936	−0.105%	$729K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2939	−0.003%	$7.4M	$6.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2939	−0.003%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2939	−0.003%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2937	−0.071%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2934	−0.173%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2936	−0.105%	$156K	$275K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2943	+0.139%	$93K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2939	−0.003%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2933	−0.208%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2941	+0.065%	$2.9M	$3.4M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2938	−0.034%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2942	+0.095%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0201%	1h	0.2940	+0.014%	$587K	$496K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2934	−0.170%	$74K	$49K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2937	−0.078%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2936	−0.105%	$840K	$370K	50x	as long as short
Extended JUP-USD	+0.0360%	1h	0.2938	−0.046%	$2.2M	$490K	25x	as long as short