Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0092%/8h= +10.0% APRpaid last 24h −0.619%

Price spread now: Bybit against dYdX−0.222%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Bybit

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

Funding pays, the price is against you. Bybit is 0.222% cheaper against dYdX than usual: you would sell low and buy high (spread −0.222% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 8.1 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	dYdX JUP-USD	0.2953	0.0008	pay 0.0001% / 1h	5m 04s	$39K	$24K	5x
Short	Bybit JUPUSDT	0.2946	0.0100	get 0.0050% / 4h	5m 04s	$15.8M	$18.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now −0.222%Rate

Funding earned: $19.27
Price spread: −0.222% → 0.000%: −$22.25
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$23.98
Costs to cover: 0.210%
Break-even: 15.7 days

Slippage unknown: dYdX: 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 dYdX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	1.70 bp	13.8 bp −$14	35.3 bp −$353	186.6 bp −$18.7K	doesn't fit

dYdX: 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	0.2920	−1.103%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2951	−0.040%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2949	−0.112%	$281K	$146K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2951	−0.050%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2951	−0.063%	—	—	150x	as long as short
dYdX JUP-USDlong	+0.0008%	1h	0.2953	long leg	$39K	$24K	5x
Reya JUPRUSDPERP	+0.0057%	1h	0.2949	−0.112%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2951	−0.043%	$591K	$469K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2954	+0.032%	$780K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2951	−0.066%	$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	0.2949	−0.104%	$600K	$490K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2952	−0.003%	$18.6M	$9.4M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2951	−0.053%	$110K	$287K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.087%	$16.2M	$40.8M	75x	as long as short
Bybit JUPUSDTshort	+0.0100%	4h	0.2946	−0.222%	$15.8M	$18.1M	50x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2950	−0.087%	$4.0M	$11.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2949	−0.138%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2949	−0.121%	$730K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2949	−0.121%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2950	−0.087%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	−0.087%	$5.8M	$5.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2948	−0.155%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2951	−0.053%	$975K	$234K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2945	−0.257%	$719K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2953	+0.002%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2952	−0.019%	$157K	$251K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2957	+0.143%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2950	−0.087%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.222%	$111K	$45K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2955	+0.082%	$2.9M	$3.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2950	−0.078%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2950	−0.070%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2970	+0.594%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2951	−0.050%	$97K	$304K	10x	as long as short
Extended JUP-USD	+0.0272%	1h	0.2949	−0.132%	$2.2M	$498K	25x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2950	−0.087%	$835K	$375K	50x	as long as short