Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0375%/8h= +41.0% APRpaid last 24h +0.185%

Price spread now: Phemex against GMX+0.182%7-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 Phemex

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 +$11 a day on $10k at the current rate, and Phemex is 0.182% dearer against GMX than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX JUP/USD [WBTC.b-USDC]	0.2982	L −0.0275% / S +0.0618%	get 0.0034% / 1h	29m 02s	$16K	—	100x
Short	Phemex JUPUSDT	0.2987	0.0100	get 0.0050% / 4h	29m 02s	$2.9M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.182%Rate

Funding earned: $78.65
Price spread: +0.182% → 0.000%: $18.21
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: $72.87
Costs to cover: 0.240%
Break-even: 0.5 days

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago	1.67 bp	20.1 bp −$20	70.0 bp −$700	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	−0.4371%	1h	0.2950	−1.059%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]long	L −0.0275% / S +0.0618%	1h	0.2982	long leg	$16K	—	100x
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2984	+0.085%	$601K	$601K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2980	−0.038%	$284K	$167K	10x	as long as short
Bybit JUPUSDT	−0.0029%	4h	0.2979	−0.086%	$16.3M	$22.6M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2984	+0.085%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2982	+0.014%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0024%	1h	0.2980	−0.036%	$26K	$19K	5x	as long as short
Gate JUP_USDT	+0.0050%	4h	0.2979	−0.086%	$746K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2979	−0.098%	—	—	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	+0.0069%	1h	0.2984	+0.083%	$39K	$33K	5x	as long as short
Paradex JUP-USD-PERP	+0.0086%	8h	0.2980	−0.037%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2985	+0.122%	$798K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2983	+0.048%	$31K	$48K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2978	−0.114%	$721K	$941K	—	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2979	−0.086%	$614K	$658K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2984	+0.070%	$116K	$361K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2982	+0.023%	$16.4M	$53.5M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2980	−0.053%	$4.1M	$16.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2981	−0.016%	$58K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2984	+0.082%	$8.2M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2983	+0.048%	$4.2M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2983	+0.048%	$5.8M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2981	−0.019%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2983	+0.055%	$987K	$244K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2984	+0.082%	$1.7M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2987	+0.182%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.058%	$94K	$128K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2973	−0.287%	$112K	$66K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2987	+0.182%	$2.9M	$3.9M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2980	−0.049%	$41K	—	3x	as long as short
Hyperliquid JUP	+0.0147%	1h	0.2987	+0.189%	$19.2M	$13.1M	10x	as long as short
BloFin JUP-USDT	+0.0149%	4h	0.2981	−0.019%	$846K	$327K	50x	as long as short
Phoenix JUP	+0.0162%	1h	0.2986	+0.145%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0248%	1h	0.2981	−0.029%	$2.2M	$507K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3000	+0.632%	$75K	$93K	50x	as long as short