Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0637%/8h= +69.7% APRpaid last 24h +0.165%

Price spread now: Orderly against GMX−0.021%7-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 Orderly

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. Orderly is 0.021% cheaper against GMX than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 3 hours of funding at the current rate (+$19 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX JUP/USD [WBTC.b-USDC]	0.2958	L −0.0537% / S +0.0372%	get 0.0067% / 1h	40m 35s	$15K	—	100x
Short	Orderly PERP_JUP_USDC	0.2957	0.0100	get 0.0050% / 4h	1h 40m	$31K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.021%Rate

Funding earned: $133.71
Price spread: −0.021% → 0.000%: −$2.06
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $113.65
Costs to cover: 0.180%
Break-even: 1.1 days

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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	−0.3508%	1h	0.2918	−1.339%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]long	L −0.0537% / S +0.0372%	1h	0.2958	long leg	$15K	—	100x
Pacifica JUP	−0.0335%	1h	0.2957	−0.026%	$282K	$173K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2957	−0.024%	$599K	$619K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0122%	1h	0.2956	−0.048%	$56K	$14K	10x	as long as short
01 Exchange JUPUSD	−0.0088%	1h	0.2958	+0.013%	$26K	$19K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2958	+0.012%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0012%	4h	0.2956	−0.054%	$737K	$1.9M	75x	as long as short
Bybit JUPUSDT	+0.0048%	4h	0.2955	−0.088%	$16.2M	$23.8M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2956	−0.060%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0067%	8h	0.2957	−0.033%	$9K	$15K	10x	as long as short
dYdX JUP-USD	+0.0075%	1h	0.2958	+0.001%	$39K	$35K	5x	as long as short
BloFin JUP-USDT	+0.0092%	4h	0.2956	−0.054%	$849K	$329K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2959	+0.061%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2956	−0.046%	$613K	$673K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2962	+0.145%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2958	+0.026%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	−0.038%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2956	−0.054%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2956	−0.054%	$7.9M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2960	+0.081%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	−0.021%	$5.6M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2956	−0.054%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2957	−0.027%	$978K	$260K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2947	−0.351%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2954	−0.123%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2954	−0.122%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2962	+0.138%	$93K	$137K	10x	as long as short
Orderly PERP_JUP_USDCshort	+0.0100%	4h	0.2957	−0.021%	$31K	$51K	10x
HTX JUP-USDT	+0.0100%	4h	0.2950	−0.257%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2958	+0.013%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	−0.021%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2955	−0.100%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2955	−0.071%	$40K	—	3x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.077%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.078%	$74K	$94K	50x	as long as short