Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0480%/8h= +52.6% APRpaid last 24h +0.033%

Price spread now: Phemex against gTrade (Gains Network)+0.184%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 Phemex

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 for this trade now. Funding pays +$14 a day on $10k at the current rate, and Phemex is 0.184% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$18 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	0.2894	L +0.0001% / S −0.0001%	pay 0.0000% / 1h	22m 55s	—	—	150x
Short	Phemex JUPUSDT	0.2899	0.0481	get 0.0241% / 4h	2h 22m	$2.8M	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.184%Rate

Funding earned: $100.86
Price spread: +0.184% → 0.000%: $18.38
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $97.25
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 6 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 Phemex live order book, 6 min ago	3.44 bp	21.9 bp −$22	doesn't fit	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	−0.4499%	1h	0.2910	+0.564%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2893	−0.029%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2893	−0.016%	$276K	$142K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2893	−0.013%	$52K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USDlong	L +0.0001% / S −0.0001%	1h	0.2894	long leg	—	—	150x
dYdX JUP-USD	+0.0011%	1h	0.2897	+0.131%	$38K	$20K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2892	−0.048%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2896	+0.070%	$754K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2892	−0.056%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2892	−0.067%	$573K	$493K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2895	+0.053%	$18.0M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2896	+0.095%	$107K	$280K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2898	+0.149%	$15.9M	$39.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2894	+0.011%	$15.6M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2898	+0.149%	$4.0M	$10.8M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2909	+0.545%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2893	−0.023%	$715K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2897	+0.115%	$6.7M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2895	+0.046%	$3.9M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2897	+0.115%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2897	+0.115%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2895	+0.042%	$953K	$191K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2892	−0.057%	$702K	$630K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2899	+0.179%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2892	−0.058%	$159K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2896	+0.070%	$91K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2894	+0.011%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2888	−0.196%	$108K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2892	−0.058%	$39K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2893	−0.017%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0136%	1h	0.2897	+0.114%	$2.1M	$527K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0261%	1h	0.2895	+0.044%	$571K	$463K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2899	+0.177%	$97K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2909	+0.533%	$74K	$48K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2893	−0.023%	$818K	$372K	50x	as long as short
Phemex JUPUSDTshort	+0.0481%	4h	0.2899	+0.184%	$2.8M	$3.0M	50x