Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.030%

Price spread now: GRVT against gTrade (Gains Network)+0.089%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on GRVT

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GRVT is 0.089% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) JUP/USD	0.2917	L +0.0001% / S −0.0001%	pay 0.0000% / 1h	52m 47s	—	—	150x
Short	GRVT JUP_USDT_Perp	0.2919	0.0100	get 0.0050% / 4h	52m 47s	$1.6M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.089%Rate

Funding earned: $20.77
Price spread: +0.089% → 0.000%: $8.86
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $10.63
Costs to cover: 0.190%
Break-even: 3.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; GRVT: live order book, 1 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 GRVT live order book, 1 min ago	3.42 bp	18.4 bp −$18	85.2 bp −$852	doesn't fit	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	−0.3836%	1h	0.2889	−0.953%	$3K	$207K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2916	−0.039%	$16K	—	100x	as long as short
Pacifica JUP	−0.0058%	1h	0.2918	+0.049%	$278K	$138K	10x	as long as short
ApeX Omni JUPUSDT	−0.0014%	1h	0.2913	−0.130%	$161K	$254K	50x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2918	+0.055%	$39K	$16K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2916	−0.034%	$52K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USDlong	L +0.0001% / S −0.0001%	1h	0.2917	long leg	—	—	150x
Reya JUPRUSDPERP	+0.0057%	1h	0.2915	−0.054%	—	—	20x	as long as short
Backpack JUP_USDC_PERP	+0.0067%	1h	0.2917	−0.010%	$965K	$225K	10x	as long as short
01 Exchange JUPUSD	+0.0088%	1h	0.2919	+0.065%	$26K	$6K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter JUP	+0.0096%	1h	0.2919	+0.062%	$757K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2919	+0.079%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2918	+0.058%	$570K	$491K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2918	+0.057%	$18.0M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2919	+0.075%	$104K	$293K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2918	+0.041%	$16.0M	$39.0M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2916	−0.027%	$15.8M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2919	+0.075%	$4.0M	$10.2M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2926	+0.315%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2916	−0.027%	$699K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2918	+0.041%	$6.7M	$5.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2918	+0.041%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2919	+0.075%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2917	+0.007%	—	$20.5M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2910	−0.234%	$705K	$531K	—	as long as short
GRVT JUP_USDT_Perpshort	+0.0100%	4h	0.2919	+0.089%	$1.6M	$4.0M	10x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2922	+0.168%	$92K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2916	−0.027%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2911	−0.199%	$109K	$43K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2914	−0.096%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0224%	1h	0.2917	−0.002%	$2.2M	$575K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2923	+0.216%	$74K	$48K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2916	−0.027%	$820K	$370K	50x	as long as short
Phoenix JUP	+0.0355%	1h	0.2922	+0.185%	$104K	$284K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0415%	1h	0.2917	+0.010%	$575K	$418K	20x	as long as short
Phemex JUPUSDT	+0.0484%	4h	0.2918	+0.041%	$2.9M	$3.0M	50x	as long as short