Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0081%/8h= +8.9% APRpaid last 24h −0.938%

Price spread now: GRVT against dYdX−0.022%50s7-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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. GRVT is 0.022% cheaper against dYdX than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 21 hours of funding at the current rate (+$2 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX JUP-USD	0.2951	0.0019	pay 0.0002% / 1h	32m 10s	$39K	$29K	5x
Short	GRVT JUP_USDT_Perp	0.2950	0.0100	get 0.0050% / 4h	2h 32m	$1.6M	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.022%Rate

Funding earned: $17.01
Price spread: −0.022% → 0.000%: −$2.17
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$4.16
Costs to cover: 0.190%
Break-even: 8.7 days

Slippage unknown: dYdX: no order-book sample; GRVT: live order book, 2 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 GRVT live order book, 2 min ago	1.70 bp	13.3 bp −$13	58.5 bp −$585	doesn't fit	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 35 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	−0.4347%	1h	0.2901	−1.679%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2952	+0.050%	$281K	$149K	10x	as long as short
Bybit JUPUSDT	−0.0279%	4h	0.2947	−0.113%	$15.8M	$20.3M	50x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2951	+0.015%	$16K	—	100x	as long as short
OKX JUP-USDT-SWAP	−0.0073%	4h	0.2949	−0.052%	$4.0M	$14.5M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2952	+0.053%	$591K	$526K	20x	as long as short
Gate JUP_USDT	−0.0016%	4h	0.2949	−0.052%	$728K	$1.5M	75x	as long as short
Variational Omni JUP	−0.0015%	4h	0.2943	−0.271%	$718K	$766K	—	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2951	+0.017%	—	—	150x	as long as short
dYdX JUP-USDlong	+0.0019%	1h	0.2951	long leg	$39K	$29K	5x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit JUP_USDC-PERPETUAL	+0.0055%	1h	0.2952	+0.060%	$54K	$16K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2951	+0.018%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0064%	1h	0.2954	+0.124%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERP	+0.0088%	8h	0.2952	+0.054%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2953	+0.091%	$780K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2952	+0.050%	$31K	$43K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2952	+0.063%	$18.8M	$11.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2951	+0.021%	$114K	$323K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.018%	$16.3M	$46.8M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.488%	$61K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2950	−0.018%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2951	+0.016%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	−0.018%	$5.7M	$6.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2950	−0.018%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2951	+0.016%	$977K	$237K	10x	as long as short
GRVT JUP_USDT_Perpshort	+0.0100%	4h	0.2950	−0.022%	$1.6M	$3.9M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2948	−0.086%	$157K	$302K	50x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2952	+0.033%	$600K	$604K	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2955	+0.152%	$93K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2947	−0.120%	$111K	$55K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.052%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2937	−0.475%	$97K	$402K	10x	as long as short
Extended JUP-USD	+0.0272%	1h	0.2951	+0.008%	$2.2M	$486K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2953	+0.067%	$74K	$52K	50x	as long as short
Phemex JUPUSDT	+0.0293%	4h	0.2955	+0.152%	$2.9M	$3.6M	50x	as long as short