Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0119%/8h= +13.0% APRpaid last 24h +0.033%

Price spread now: Orderly against Deribit−0.017%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 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit JUP_USDC-PERPETUAL	0.2973	−0.0019	get 0.0002% / 1h	14m 44s	$56K	$14K	10x
Short	Orderly PERP_JUP_USDC	0.2972	0.0100	get 0.0050% / 4h	2h 14m	$31K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.017%Rate

Funding earned: $25
Price spread: −0.017% → 0.000%: −$1.68
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $10.32
Costs to cover: 0.130%
Break-even: 4.1 days

Slippage unknown: Deribit: 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 Deribit no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Deribit 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 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	0.2978	+0.185%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0876% / S +0.0328%	1h	0.2973	+0.001%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0136%	4h	0.2968	−0.151%	$16.2M	$24.0M	50x	as long as short
Deribit JUP_USDC-PERPETUALlong	−0.0019%	1h	0.2973	long leg	$56K	$14K	10x
Phoenix JUP	0.0000%	1h	0.2979	+0.222%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2973	+0.005%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0002%	4h	0.2968	−0.151%	$739K	$2.0M	75x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2972	−0.010%	$603K	$624K	20x	as long as short
dYdX JUP-USD	+0.0026%	1h	0.2975	+0.079%	$39K	$36K	5x	as long as short
01 Exchange JUPUSD	+0.0048%	1h	0.2971	−0.061%	$26K	$19K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2970	−0.081%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0092%	8h	0.2970	−0.076%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2974	+0.034%	$860K	$1.3M	10x	as long as short
BloFin JUP-USDT	+0.0100%	4h	0.2975	+0.084%	$859K	$334K	50x	as long as short
Orderly PERP_JUP_USDCshort	+0.0100%	4h	0.2972	−0.017%	$31K	$51K	10x
Nado JUP-PERP	+0.0100%	1h	0.2970	−0.076%	$598K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2976	+0.104%	$19.1M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2975	+0.079%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2971	−0.055%	$283K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2970	−0.072%	$16.4M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2970	−0.084%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2970	−0.084%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2975	+0.084%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2971	−0.050%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2969	−0.118%	—	$21.0M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2972	−0.013%	$984K	$266K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2971	−0.038%	$727K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2979	+0.203%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2978	+0.185%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2979	+0.212%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2965	−0.252%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2977	+0.151%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2982	+0.320%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2970	−0.091%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.572%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2970	−0.090%	$2.2M	$539K	25x	as long as short