Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0680%/8h= +74.5% APRpaid last 24h +0.208%

Price spread now: BloFin against GMX−0.112%51s7-day average — · you buy dearer than you sell

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

Long on GMX Short on BloFin

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

Funding pays, the price is against you. BloFin is 0.112% cheaper against GMX than usual: you would sell low and buy high (spread −0.112% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 13 hours of funding at the current rate (+$20 a day). The two prices were read 51 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]	0.2982	L −0.0340% / S +0.0664%	get 0.0043% / 1h	15m 36s	$16K	—	100x
Short	BloFin JUP-USDT	0.2979	0.0340	get 0.0170% / 4h	1h 15m	$644K	$388K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.112%Rate

Funding earned: $142.81
Price spread: −0.112% → 0.000%: −$11.23
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $107.58
Costs to cover: 0.240%
Break-even: 1.7 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 26 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 BloFin live order book, 26 min ago	3.40 bp	9.4 bp −$9	22.2 bp −$222	82.0 bp −$8,195	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	0.2941	−1.386%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]long	L −0.0340% / S +0.0664%	1h	0.2982	long leg	$16K	—	100x
Pacifica JUP	−0.0224%	1h	0.2974	−0.283%	$283K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2981	−0.045%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2982	−0.011%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2974	−0.272%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0066%	4h	0.2972	−0.344%	$15.9M	$19.0M	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2977	−0.186%	$786K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2974	−0.264%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2974	−0.297%	$601K	$504K	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	0.2978	−0.143%	$18.9M	$9.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2978	−0.162%	$115K	$290K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2975	−0.246%	$16.4M	$42.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2976	−0.213%	$4.1M	$12.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2958	−0.816%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2975	−0.246%	$742K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2974	−0.280%	$7.4M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2976	−0.213%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2976	−0.213%	$5.8M	$5.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2975	−0.246%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2979	−0.122%	$986K	$247K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2978	−0.132%	$727K	$694K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2981	−0.045%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2980	−0.079%	$158K	$266K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2978	−0.163%	$94K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2981	−0.045%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2974	−0.280%	$112K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2986	+0.122%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2977	−0.179%	$41K	—	3x	as long as short
dYdX JUP-USD	+0.0135%	1h	0.2976	−0.199%	$39K	$26K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0199%	1h	0.2979	−0.101%	$596K	$488K	20x	as long as short
01 Exchange JUPUSD	+0.0208%	1h	0.2977	−0.179%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2983	+0.025%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2986	+0.116%	$98K	$329K	10x	as long as short
BloFin JUP-USDTshort	+0.0340%	4h	0.2979	−0.112%	$644K	$388K	50x
Extended JUP-USD	+0.0416%	1h	0.2974	−0.290%	$2.2M	$496K	25x	as long as short