Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.012%

Price spread now: Backpack against Gate+0.057%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$640.643% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 4 days (all we have)−0.065%−$7 · spread now +0.057%, 7d avg +0.062%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.062%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate JUP_USDT	0.2971	0.0048	pay 0.0024% / 4h	16m 38s	$740K	$1.8M	75x
Short	Backpack JUP_USDC_PERP	0.2973	0.0100	get 0.0013% / 1h	16m 38s	$984K	$236K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now +0.057%Rate

Funding earned: $10.92
Price spread: +0.057% → +0.062%: −$0.46
Slippage, 4 orders: −$39.32
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$53.86
Costs to cover: 0.643%
Break-even: 41.5 days

Slippage from Gate: live order book, 1 min ago; Backpack: live order book, 62 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 Gate live order book, 1 min ago	3.37 bp	23.5 bp −$23	109.7 bp −$1,097	doesn't fit	doesn't fit
Sell Backpack live order book, 62 min ago	0.84 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit

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	−0.4371%	1h	0.2938	−1.111%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2971	+0.010%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2974	+0.109%	$599K	$597K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2972	+0.042%	$283K	$165K	10x	as long as short
Bybit JUPUSDT	−0.0056%	4h	0.2969	−0.064%	$16.2M	$22.2M	50x	as long as short
01 Exchange JUPUSD	−0.0008%	1h	0.2973	+0.064%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2971	0.000%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2972	+0.049%	$17K	—	150x	as long as short
Gate JUP_USDTlong	+0.0048%	4h	0.2971	long leg	$740K	$1.8M	75x
Reya JUPRUSDPERP	+0.0057%	1h	0.2968	−0.116%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0064%	1h	0.2975	+0.120%	$39K	$33K	5x	as long as short
Variational Omni JUP	+0.0068%	4h	0.2976	+0.172%	$720K	$829K	—	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2973	+0.062%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2975	+0.121%	$795K	$1.4M	10x	as long as short
OKX JUP-USDT-SWAP	+0.0098%	4h	0.2969	−0.067%	$4.0M	$16.2M	50x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2972	+0.034%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2970	−0.042%	$615K	$653K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2973	+0.077%	$115K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2973	+0.060%	$16.3M	$52.3M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2975	+0.138%	$62K	$10K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2973	+0.067%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2974	+0.101%	$4.2M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2972	+0.034%	$5.8M	$7.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2970	−0.034%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERPshort	+0.0100%	1h	0.2973	+0.057%	$984K	$236K	10x
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2977	+0.216%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2974	+0.101%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2976	+0.165%	$94K	$121K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2965	−0.202%	$111K	$62K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2976	+0.168%	$2.9M	$3.9M	50x	as long as short
Hyperliquid JUP	+0.0103%	1h	0.2978	+0.236%	$19.1M	$13.1M	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2968	−0.109%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0137%	4h	0.2973	+0.067%	$849K	$302K	50x	as long as short
Phoenix JUP	+0.0162%	1h	0.2975	+0.121%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0192%	1h	0.2970	−0.036%	$2.2M	$507K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2978	+0.236%	$74K	$91K	50x	as long as short