Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0090%/8h= +9.8% APRpaid last 24h +0.037%

Price spread now: Paradex against Deribit−0.108%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.108% cheaper against Deribit than usual: you would sell low and buy high (spread −0.108% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 4.0 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit JUP_USDC-PERPETUAL	0.2960	0	get 0.0000% / 1h	44m 11s	$56K	$14K	10x
Short	Paradex JUP-USD-PERP	0.2957	0.0090	get 0.0090% / 8h	2h 44m	$9K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.108%Rate

Funding earned: $18.8
Price spread: −0.108% → 0.000%: −$10.77
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$2.97
Costs to cover: 0.110%
Break-even: 8.1 days

Slippage unknown: Deribit: no order-book sample; Paradex: 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 Paradex no order-book sample	—	—	—	—	—

Deribit and Paradex: 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	0.2934	−0.882%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0738% / S +0.0255%	1h	0.2960	+0.001%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0392%	4h	0.2955	−0.172%	$16.2M	$24.1M	50x	as long as short
Backpack JUP_USDC_PERP	−0.0050%	1h	0.2958	−0.064%	$981K	$270K	10x	as long as short
Gate JUP_USDT	−0.0040%	4h	0.2955	−0.172%	$737K	$1.9M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2964	+0.125%	$94K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUALlong	0.0000%	1h	0.2960	long leg	$56K	$14K	10x
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2960	−0.015%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2961	+0.020%	$601K	$624K	20x	as long as short
dYdX JUP-USD	+0.0013%	1h	0.2961	+0.030%	$39K	$36K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0032%	1h	0.2959	−0.044%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2957	−0.100%	—	—	20x	as long as short
Paradex JUP-USD-PERPshort	+0.0090%	8h	0.2957	−0.108%	$9K	$15K	10x
Lighter JUP	+0.0096%	1h	0.2962	+0.071%	$896K	$1.3M	10x	as long as short
Variational Omni JUP	+0.0098%	4h	0.2958	−0.070%	$724K	$1.2M	—	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2960	−0.003%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2958	−0.088%	$596K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2962	+0.074%	$19.0M	$14.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2960	−0.003%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2957	−0.107%	$282K	$185K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2959	−0.037%	$16.4M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2956	−0.139%	$4.1M	$16.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	+0.155%	$58K	$4K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	−0.037%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2959	−0.037%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	−0.105%	$5.7M	$8.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2958	−0.071%	—	$21.6M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2962	+0.064%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2963	+0.098%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2962	+0.078%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2951	−0.307%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2964	+0.132%	$2.9M	$4.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2957	−0.105%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0113%	4h	0.2962	+0.064%	$867K	$330K	50x	as long as short
Extended JUP-USD	+0.0248%	1h	0.2957	−0.117%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.932%	$74K	$95K	50x	as long as short