Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.074%

Price spread now: Hyperliquid against GRVT+0.269%65s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.518% of the position

Long on GRVT Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days−0.286%−$29 · spread now +0.269%, 7d avg +0.019%

Together, before fees−0.284%+ Points / potential airdropGRVT: Active · Hyperliquid: Season 2 · farm board−$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.250% dearer against GRVT than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of +0.019%. The two prices were read 65 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	GRVT JUP_USDT_Perp	0.2961	0.0100	pay 0.0050% / 4h	2h 42m	$1.6M	$4.2M	10x
Short	Hyperliquid JUP	0.2969	0.0100	get 0.0013% / 1h	42m 16s	$19.0M	$14.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.269%Rate

Funding earned: $0
Price spread: +0.269% → +0.019%: $25.03
Slippage, 4 orders: −$33.83
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$26.8
Costs to cover: 0.518%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; Hyperliquid: live order book, 11 min ago.

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, 2 min ago	1.69 bp	17.0 bp −$17	72.5 bp −$725	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	1.18 bp	8.6 bp −$9	doesn't fit	doesn't fit	doesn't fit

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	0.2929	−1.081%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0745% / S +0.0257%	1h	0.2966	+0.166%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0348%	4h	0.2962	+0.047%	$16.3M	$24.1M	50x	as long as short
Gate JUP_USDT	−0.0018%	4h	0.2961	0.000%	$738K	$1.9M	75x	as long as short
Backpack JUP_USDC_PERP	−0.0010%	1h	0.2966	+0.179%	$984K	$270K	10x	as long as short
Phoenix JUP	0.0000%	1h	0.2964	+0.095%	$94K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2966	+0.165%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2967	+0.195%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2966	+0.161%	$602K	$623K	20x	as long as short
dYdX JUP-USD	+0.0016%	1h	0.2965	+0.131%	$39K	$36K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0047%	4h	0.2960	−0.034%	$866K	$330K	50x	as long as short
01 Exchange JUPUSD	+0.0048%	1h	0.2968	+0.223%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2963	+0.064%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2964	+0.112%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2968	+0.233%	$895K	$1.3M	10x	as long as short
Variational Omni JUP	+0.0098%	4h	0.2958	−0.101%	$724K	$1.2M	—	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2966	+0.169%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2962	+0.051%	$598K	$668K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2969	+0.269%	$19.0M	$14.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2965	+0.131%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2965	+0.150%	$283K	$185K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2965	+0.135%	$16.5M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2963	+0.068%	$4.1M	$16.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	+0.124%	$58K	$4K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2965	+0.135%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2966	+0.169%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2965	+0.135%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2963	+0.068%	—	$21.6M	—	as long as short
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.2961	long leg	$1.6M	$4.2M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2961	0.000%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2969	+0.267%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2958	−0.101%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2968	+0.236%	$2.9M	$4.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2963	+0.051%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.902%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2962	+0.043%	$2.2M	$539K	25x	as long as short