Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0440%/8h= +48.2% APRpaid last 24h +0.209%

Price spread now: Bitget against GMX+0.120%54s7-day average — · you sell dearer than you buy

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

Long on GMX Short on Bitget

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 +$13 a day on $10k at the current rate, and Bitget is 0.120% dearer against GMX than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX JUP/USD [WBTC.b-USDC]	0.2972	L −0.0340% / S +0.0664%	get 0.0043% / 1h	22m 31s	$16K	—	100x
Short	Bitget JUPUSDT	0.2976	0.0100	get 0.0050% / 4h	1h 22m	$5.8M	$5.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GMX. 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 GMXbpFee BitgetbpOrdersPrice spread, now +0.120%Rate

Funding earned: $92.41
Price spread: +0.120% → 0.000%: $12.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $80.42
Costs to cover: 0.240%
Break-even: 0.9 days

Slippage unknown: GMX: no order-book sample; Bitget: 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 6 min ago	3.38 bp	12.8 bp −$13	22.1 bp −$221	doesn't fit	doesn't fit

GMX: 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	−0.5000%	1h	0.2918	−1.831%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]long	L −0.0340% / S +0.0664%	1h	0.2972	long leg	$16K	—	100x
Pacifica JUP	−0.0224%	1h	0.2973	+0.030%	$283K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2973	+0.029%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2976	+0.129%	—	—	150x	as long as short
Bybit JUPUSDT	+0.0056%	4h	0.2974	+0.036%	$15.9M	$19.1M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2974	+0.061%	—	—	20x	as long as short
OKX JUP-USDT-SWAP	+0.0087%	4h	0.2975	+0.086%	$4.1M	$12.4M	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2976	+0.123%	$786K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2977	+0.138%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2976	+0.137%	$601K	$507K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2979	+0.208%	$18.9M	$9.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2976	+0.125%	$115K	$297K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2975	+0.091%	$16.4M	$42.7M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2958	−0.485%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2976	+0.120%	$743K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2974	+0.053%	$7.4M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2976	+0.120%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDTshort	+0.0100%	4h	0.2976	+0.120%	$5.8M	$5.9M	75x
BingX JUP-USDT	+0.0100%	4h	0.2975	+0.086%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2972	−0.021%	$987K	$247K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2954	−0.624%	$721K	$697K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2955	−0.586%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2960	−0.418%	$157K	$266K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2979	+0.208%	$94K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2972	−0.014%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2965	−0.250%	$112K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2975	+0.086%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2970	−0.065%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0116%	1h	0.2972	−0.001%	$39K	$26K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0199%	1h	0.2972	+0.001%	$595K	$488K	20x	as long as short
01 Exchange JUPUSD	+0.0200%	1h	0.2979	+0.208%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2972	−0.011%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2961	−0.388%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2973	+0.019%	$850K	$382K	50x	as long as short
Extended JUP-USD	+0.0384%	1h	0.2974	+0.043%	$2.2M	$495K	25x	as long as short