Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0763%/8h= −83.6% APRpaid last 24h −0.038%

Price spread now: GMX against GRVT+0.098%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on GMX

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

The price spread pays, funding is against you. GMX is 0.098% dearer against GRVT than usual: you sell high and buy low (spread +0.098% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT JUP_USDT_Perp	0.2966	0.0100	pay 0.0050% / 4h	58m 54s	$1.6M	$4.0M	10x
Short	GMX JUP/USD [WBTC.b-USDC]	0.2969	L −0.0398% / S +0.0663%	pay 0.0083% / 1h	58m 54s	$15K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$160.31
Price spread: +0.098% → 0.000%: $9.78
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$171.53
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 5 min ago; GMX: 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, 5 min ago	1.69 bp	16.3 bp −$16	88.9 bp −$889	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	0.2935	−1.045%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0398% / S +0.0663%	1h	0.2969	+0.098%	$15K	—	100x
Pacifica JUP	−0.0335%	1h	0.2967	+0.021%	$283K	$169K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2970	+0.120%	$602K	$618K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2969	+0.108%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2969	+0.101%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0034%	4h	0.2970	+0.135%	$749K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2965	−0.022%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0077%	4h	0.2970	+0.135%	$16.3M	$23.1M	50x	as long as short
Paradex JUP-USD-PERP	+0.0079%	8h	0.2967	+0.023%	$9K	$13K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0080%	1h	0.2969	+0.105%	$26K	$19K	5x	as long as short
BloFin JUP-USDT	+0.0080%	4h	0.2971	+0.169%	$846K	$328K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2971	+0.172%	$796K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2965	−0.042%	$612K	$669K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2975	+0.320%	$19.1M	$13.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2973	+0.221%	$107K	$356K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2972	+0.198%	$16.4M	$54.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2969	+0.101%	$4.0M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2972	+0.202%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2973	+0.236%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2971	+0.169%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2969	+0.101%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2972	+0.185%	$983K	$252K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2961	−0.165%	$715K	$1.0M	—	as long as short
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.2966	long leg	$1.6M	$4.0M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2960	−0.202%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2971	+0.172%	$94K	$130K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2969	+0.101%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2962	−0.135%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2972	+0.202%	$2.9M	$4.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2966	0.000%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2968	+0.057%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0123%	1h	0.2969	+0.086%	$39K	$35K	5x	as long as short
Phoenix JUP	+0.0190%	1h	0.2969	+0.101%	$96K	$440K	10x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2969	+0.115%	$2.2M	$505K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2972	+0.212%	$74K	$94K	50x	as long as short