Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0045%/8h= −5.0% APRpaid last 24h +0.030%

Price spread now: Bybit against gTrade (Gains Network)−0.155%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.155% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) JUP/USD	0.2953	L +0.0002% / S −0.0001%	pay 0.0000% / 1h	51m 26s	$17K	—	150x
Short	Bybit JUPUSDT	0.2948	−0.0044	pay 0.0022% / 4h	1h 51m	$16.1M	$23.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$9.53
Price spread: −0.155% → 0.000%: −$15.51
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$46.04
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	1.69 bp	13.2 bp −$13	34.3 bp −$343	252.7 bp −$25.3K	doesn't fit

gTrade (Gains Network): 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	−1.036%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0989% / S +0.0364%	1h	0.2952	−0.015%	$13K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2953	+0.025%	$281K	$177K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2955	+0.085%	$599K	$623K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0122%	1h	0.2955	+0.072%	$56K	$14K	10x	as long as short
01 Exchange JUPUSD	−0.0080%	1h	0.2950	−0.070%	$26K	$19K	5x	as long as short
Bybit JUPUSDTshort	−0.0044%	4h	0.2948	−0.155%	$16.1M	$23.9M	50x
Gate JUP_USDT	−0.0026%	4h	0.2954	+0.048%	$735K	$1.9M	75x	as long as short
gTrade (Gains Network) JUP/USDlong	L +0.0002% / S −0.0001%	1h	0.2953	long leg	$17K	—	150x
Reya JUPRUSDPERP	+0.0057%	1h	0.2949	−0.111%	—	—	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	+0.0067%	8h	0.2953	+0.005%	$9K	$15K	10x	as long as short
Variational Omni JUP	+0.0074%	4h	0.2956	+0.124%	$721K	$1.1M	—	as long as short
dYdX JUP-USD	+0.0089%	1h	0.2957	+0.140%	$39K	$35K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2956	+0.106%	$807K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2949	−0.104%	$610K	$672K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	+0.076%	$18.9M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2954	+0.056%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.095%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2950	−0.087%	$4.1M	$16.6M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2952	−0.020%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2950	−0.087%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2954	+0.048%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	−0.087%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2951	−0.054%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2955	+0.079%	$978K	$263K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2967	+0.473%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2955	+0.082%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2955	+0.072%	$93K	$138K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2956	+0.116%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2948	−0.155%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2959	+0.217%	$2.9M	$4.1M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2952	−0.026%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2953	+0.023%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0133%	4h	0.2955	+0.082%	$850K	$331K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2958	+0.173%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.250%	$74K	$94K	50x	as long as short