Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −1.218%

Price spread now: Phemex against dYdX+0.111%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Phemex

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 pays, funding is against you. Phemex is 0.111% dearer against dYdX than usual: you sell high and buy low (spread +0.111% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX JUP-USD	0.2960	0.0118	pay 0.0015% / 1h	53m 29s	$39K	$35K	5x
Short	Phemex JUPUSDT	0.2963	0.0100	get 0.0050% / 4h	1h 53m	$2.9M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$3.81
Price spread: +0.111% → 0.000%: $11.14
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$14.68
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago	1.69 bp	20.2 bp −$20	doesn't fit	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 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	−0.3508%	1h	0.2922	−1.274%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0975% / S +0.0360%	1h	0.2961	+0.059%	$13K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2957	−0.085%	$282K	$177K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0223%	1h	0.2960	+0.013%	$56K	$14K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2960	+0.005%	$600K	$623K	20x	as long as short
Bybit JUPUSDT	−0.0072%	4h	0.2956	−0.139%	$16.2M	$23.9M	50x	as long as short
01 Exchange JUPUSD	−0.0064%	1h	0.2958	−0.064%	$26K	$19K	5x	as long as short
Gate JUP_USDT	−0.0028%	4h	0.2959	−0.024%	$736K	$1.9M	75x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2963	+0.095%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2953	−0.217%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0070%	8h	0.2959	−0.013%	$9K	$15K	10x	as long as short
Variational Omni JUP	+0.0074%	4h	0.2956	−0.117%	$721K	$1.1M	—	as long as short
Lighter JUP	+0.0096%	1h	0.2959	−0.020%	$811K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2956	−0.125%	$612K	$675K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2960	+0.007%	$18.9M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2960	−0.002%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	−0.112%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2954	−0.193%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2957	−0.091%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2960	+0.010%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	−0.091%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2960	+0.010%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2957	−0.081%	$979K	$263K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2967	+0.232%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2966	+0.213%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2960	+0.024%	$93K	$139K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2963	+0.111%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2960	+0.010%	$111K	$69K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2963	+0.111%	$2.9M	$4.1M	50x
Bulk JUP-USD	+0.0100%	1h	0.2954	−0.193%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2955	−0.149%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2959	−0.036%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0107%	4h	0.2968	+0.280%	$854K	$333K	50x	as long as short
dYdX JUP-USDlong	+0.0118%	1h	0.2960	long leg	$39K	$35K	5x
Phoenix JUP	+0.0190%	1h	0.2956	−0.122%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.007%	$74K	$94K	50x	as long as short