Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.010%

Price spread now: gTrade (Gains Network) against GRVT−0.372%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on gTrade (Gains Network)

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.372% cheaper against GRVT than usual: you would sell low and buy high (−$37 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT JUP_USDT_Perp	0.2977	0.0100	pay 0.0050% / 4h	2h 53m	$1.6M	$4.3M	10x
Short	gTrade (Gains Network) JUP/USD	0.2966	L +0.0002% / S −0.0001%	get 0.0000% / 1h	53m 25s	$17K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against GRVT. 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 GRVTbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.372%Rate

Funding earned: −$20.76
Price spread: −0.372% → 0.000%: −$37.23
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$77
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 6 min ago; gTrade (Gains Network): 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 GRVT live order book, 6 min ago	1.68 bp	23.0 bp −$23	103.7 bp −$1,037	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−1.221%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0709% / S +0.0246%	1h	0.2967	−0.344%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0451%	4h	0.2963	−0.482%	$16.3M	$24.1M	50x	as long as short
01 Exchange JUPUSD	−0.0184%	1h	0.2971	−0.227%	$26K	$19K	5x	as long as short
ApeX Omni JUPUSDT	−0.0172%	1h	0.2970	−0.247%	$158K	$319K	50x	as long as short
Backpack JUP_USDC_PERP	−0.0132%	1h	0.2967	−0.347%	$984K	$272K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0087%	1h	0.2969	−0.297%	$56K	$14K	10x	as long as short
Gate JUP_USDT	−0.0038%	4h	0.2963	−0.482%	$739K	$1.9M	75x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2967	−0.347%	$39K	$36K	5x	as long as short
Phoenix JUP	0.0000%	1h	0.2974	−0.112%	$95K	$447K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) JUP/USDshort	L +0.0002% / S −0.0001%	1h	0.2966	−0.372%	$17K	—	150x
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2968	−0.305%	$602K	$624K	20x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2965	−0.429%	—	—	20x	as long as short
BloFin JUP-USDT	+0.0082%	4h	0.2976	−0.045%	$873K	$332K	50x	as long as short
Paradex JUP-USD-PERP	+0.0087%	8h	0.2965	−0.408%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2968	−0.321%	$905K	$1.2M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2966	−0.381%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2963	−0.473%	$598K	$676K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2970	−0.247%	$19.1M	$14.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2967	−0.347%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2965	−0.430%	$282K	$184K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2966	−0.381%	$16.5M	$56.5M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2964	−0.448%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2966	−0.381%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2967	−0.347%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2963	−0.482%	$5.7M	$8.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2964	−0.448%	—	$21.5M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2970	−0.230%	$726K	$1.2M	—	as long as short
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.2977	long leg	$1.6M	$4.3M	10x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2972	−0.196%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2963	−0.482%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2971	−0.213%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2978	+0.019%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2936	−1.403%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2963	−0.483%	$2.2M	$540K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.348%	$74K	$95K	50x	as long as short