Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h −1.358%

Price spread now: Orderly against dYdX−0.167%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 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

Funding pays, the price is against you. Orderly is 0.167% cheaper against dYdX than usual: you would sell low and buy high (spread −0.167% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 5.6 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	0.2975	0	get 0.0000% / 1h	56m 33s	$39K	$38K	5x
Short	Orderly PERP_JUP_USDC	0.2970	0.0099	get 0.0050% / 4h	2h 56m	$31K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.167%Rate

Funding earned: $20.85
Price spread: −0.167% → 0.000%: −$16.71
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$11.86
Costs to cover: 0.160%
Break-even: 11.0 days

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

dYdX 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	0.2941	−1.142%	$47K	$110K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0696% / S +0.0242%	1h	0.2972	−0.113%	$13K	—	100x	as long as short
Backpack JUP_USDC_PERP	−0.0411%	1h	0.2971	−0.120%	$985K	$274K	10x	as long as short
Bybit JUPUSDT	−0.0367%	4h	0.2968	−0.251%	$16.3M	$24.1M	50x	as long as short
01 Exchange JUPUSD	−0.0264%	1h	0.2969	−0.191%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0053%	1h	0.2971	−0.147%	$57K	$13K	10x	as long as short
Gate JUP_USDT	−0.0022%	4h	0.2968	−0.234%	$740K	$1.9M	75x	as long as short
dYdX JUP-USDlong	0.0000%	1h	0.2975	long leg	$39K	$38K	5x
Phoenix JUP	0.0000%	1h	0.2974	−0.033%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2972	−0.111%	$17K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2972	−0.088%	$603K	$624K	20x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2968	−0.224%	—	—	20x	as long as short
BloFin JUP-USDT	+0.0078%	4h	0.2968	−0.234%	$870K	$331K	50x	as long as short
Paradex JUP-USD-PERP	+0.0087%	8h	0.2971	−0.140%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2976	+0.035%	$912K	$1.2M	10x	as long as short
Orderly PERP_JUP_USDCshort	+0.0099%	4h	0.2970	−0.167%	$31K	$51K	10x
Nado JUP-PERP	+0.0100%	1h	0.2968	−0.226%	$597K	$675K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2974	−0.023%	$19.1M	$14.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2972	−0.111%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2973	−0.083%	$283K	$184K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2970	−0.171%	$16.5M	$56.6M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2968	−0.234%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2970	−0.167%	$8.0M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2972	−0.100%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2969	−0.201%	$5.7M	$8.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2970	−0.167%	—	$21.5M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2979	+0.120%	$728K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2978	+0.100%	$1.6M	$4.3M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2975	+0.001%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2975	−0.012%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2962	−0.436%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2975	+0.001%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2978	+0.099%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2968	−0.249%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0224%	1h	0.2969	−0.203%	$2.2M	$541K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.428%	$74K	$95K	50x	as long as short