Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0070%/8h= +7.7% APRpaid last 24h +0.078%

Price spread now: Hyperliquid against Gate+0.091%7-day average +0.136% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$690.686% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now +0.091%, 7d avg +0.136%

Together, before fees+0.170%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.045% cheaper against Gate than usual: you would sell low and buy high (spread +0.091% now, against its 7-day average of +0.136%). If the spread goes back, that is −$5 on $10k: about 2.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate JUP_USDT	0.2977	0.0030	pay 0.0015% / 4h	2h 19m	$741K	$1.9M	75x
Short	Hyperliquid JUP	0.2980	0.0100	get 0.0013% / 1h	19m 48s	$19.1M	$14.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.091%Rate

Funding earned: $14.7
Price spread: +0.091% → +0.136%: −$4.55
Slippage, 4 orders: −$44.62
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$58.47
Costs to cover: 0.686%
Break-even: 34.8 days

Slippage from Gate: live order book, 3 min ago; Hyperliquid: live order book, 3 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, 3 min ago	1.68 bp	27.7 bp −$28	129.1 bp −$1,291	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.17 bp	10.7 bp −$11	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	−0.5000%	1h	0.2933	−1.478%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0856% / S +0.0322%	1h	0.2977	+0.005%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0077%	4h	0.2975	−0.077%	$16.3M	$24.1M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0019%	1h	0.2977	−0.003%	$56K	$14K	10x	as long as short
Phoenix JUP	0.0000%	1h	0.2986	+0.312%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2979	+0.056%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2977	+0.013%	$604K	$624K	20x	as long as short
dYdX JUP-USD	+0.0030%	1h	0.2980	+0.096%	$39K	$36K	5x	as long as short
Gate JUP_USDTlong	+0.0030%	4h	0.2977	long leg	$741K	$1.9M	75x
Reya JUPRUSDPERP	+0.0057%	1h	0.2975	−0.072%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0067%	4h	0.2981	+0.134%	$858K	$331K	50x	as long as short
01 Exchange JUPUSD	+0.0072%	1h	0.2978	+0.024%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2975	−0.053%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2979	+0.064%	$869K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2978	+0.034%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2975	−0.067%	$600K	$670K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2980	+0.091%	$19.1M	$14.0M	10x
Aster JUPUSDT	+0.0100%	4h	0.2979	+0.079%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2976	−0.026%	$284K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2977	−0.011%	$16.5M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2975	−0.067%	$4.1M	$16.8M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2977	0.000%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2980	+0.101%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2978	+0.034%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2976	−0.034%	—	$21.0M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2977	−0.017%	$986K	$266K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2979	+0.078%	$729K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2982	+0.182%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2981	+0.134%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.185%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2969	−0.269%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2982	+0.168%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2982	+0.168%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2975	−0.072%	$41K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.420%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0272%	1h	0.2976	−0.042%	$2.2M	$539K	25x	as long as short