Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0356%/8h= −39.0% APRpaid last 24h −0.060%

Price spread now: Phemex against Extended+0.116%7-day average +0.237% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$690.687% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.690%−$69 on $10k

Price spread, last 3 days (all we have)+0.134%+$13 · spread now +0.116%, 7d avg +0.237%

Together, before fees−0.556%+ Points / potential airdropExtended: Active · farm board−$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Phemex is 0.121% cheaper against Extended than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.237%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended JUP-USD	0.2954	0.0456	pay 0.0057% / 1h	8m 02s	$2.2M	$488K	25x
Short	Phemex JUPUSDT	0.2957	0.0100	get 0.0050% / 4h	2h 08m	$2.9M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.116%Rate

Funding earned: −$74.76
Price spread: +0.116% → +0.237%: −$12.05
Slippage, 4 orders: −$51.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$155.53
Costs to cover: 0.687%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Phemex: live order book, 6 min ago.

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 Extended live order book, 1 min ago	5.08 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	8.45 bp	22.3 bp −$22	doesn't fit	doesn't fit	doesn't fit

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	0.2917	−1.238%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2949	−0.170%	$281K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2955	+0.046%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0131%	4h	0.2951	−0.083%	$15.8M	$19.7M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2955	+0.048%	$590K	$505K	20x	as long as short
OKX JUP-USDT-SWAP	−0.0009%	4h	0.2954	+0.015%	$4.1M	$13.1M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2955	+0.055%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2954	+0.025%	—	—	150x	as long as short
Variational Omni JUP	+0.0026%	4h	0.2953	−0.020%	$721K	$750K	—	as long as short
Gate JUP_USDT	+0.0056%	4h	0.2954	+0.015%	$735K	$1.5M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2952	−0.053%	—	—	20x	as long as short
dYdX JUP-USD	+0.0068%	1h	0.2949	−0.141%	$39K	$28K	5x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2948	−0.180%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2958	+0.140%	$782K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2952	−0.044%	$597K	$528K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2958	+0.133%	$18.8M	$10.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2954	+0.029%	$114K	$317K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2954	+0.025%	$16.3M	$44.8M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2956	+0.083%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2954	+0.015%	$7.3M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	−0.019%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	+0.049%	$5.8M	$6.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2954	+0.015%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2956	+0.086%	$979K	$236K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2960	+0.218%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2955	+0.049%	$157K	$285K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2954	+0.032%	$93K	$109K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	+0.049%	$31K	$43K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2943	−0.358%	$111K	$47K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2957	+0.116%	$2.9M	$3.5M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2954	+0.012%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2952	−0.060%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2954	+0.018%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2954	+0.005%	$74K	$51K	50x	as long as short
Extended JUP-USDlong	+0.0456%	1h	0.2954	long leg	$2.2M	$488K	25x