Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.4471%/8h= −489.5% APRpaid last 24h −0.519%

Price spread now: Injective against GRVT−1.305%7-day average −1.761% · you buy dearer than you sell

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.357%−$236 on $10k

Price spread, last 3 days (all we have)+0.589%+$59 · spread now −1.305%, 7d avg −1.761%

Together, before fees−1.768%+ Points / potential airdropGRVT: Active · farm board−$177 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.456% dearer against GRVT than usual: you sell high and buy low (spread −1.305% now, against its 7-day average of −1.761%): +$46 on $10k if it goes back. Holding the pair costs −$134 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−2.357% in total) that is about 33 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.357% in total (about -122.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT JUP_USDT_Perp	0.2989	0.0100	pay 0.0050% / 4h	35m 20s	$1.6M	$3.9M	10x
Short	Injective JUP/USDC PERP	0.2950	−0.4371	pay 0.0546% / 1h	35m 20s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −1.305%Rate

Funding earned: −$938.82
Price spread: −1.305% → −1.761%: $45.63
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$902.21
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 4 min ago; Injective: live order book, 43 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 GRVT live order book, 4 min ago	1.67 bp	14.0 bp −$14	52.5 bp −$525	doesn't fit	doesn't fit
Sell Injective live order book, 43 min ago	71.28 bp	doesn't fit	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 PERPshort	−0.4371%	1h	0.2950	−1.305%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2986	−0.086%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2988	−0.039%	$602K	$609K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2985	−0.134%	$284K	$168K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0051%	1h	0.2987	−0.077%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2988	−0.049%	$17K	—	150x	as long as short
Bybit JUPUSDT	+0.0007%	4h	0.2982	−0.224%	$16.3M	$22.9M	50x	as long as short
Gate JUP_USDT	+0.0052%	4h	0.2984	−0.167%	$748K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2983	−0.196%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0064%	1h	0.2986	−0.097%	$26K	$19K	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	+0.0072%	4h	0.2984	−0.167%	$850K	$329K	50x	as long as short
dYdX JUP-USD	+0.0083%	1h	0.2987	−0.080%	$39K	$34K	5x	as long as short
Paradex JUP-USD-PERP	+0.0086%	8h	0.2985	−0.125%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2988	−0.040%	$800K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2987	−0.067%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2984	−0.184%	$615K	$662K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2988	−0.046%	$116K	$363K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2985	−0.134%	$16.4M	$53.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2982	−0.234%	$4.1M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2985	−0.134%	$58K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2985	−0.134%	$8.2M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2987	−0.067%	$4.2M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2987	−0.067%	$5.8M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2983	−0.201%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2989	−0.013%	$989K	$244K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2984	−0.179%	$722K	$1.0M	—	as long as short
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.2989	long leg	$1.6M	$3.9M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2989	0.000%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2989	0.000%	$94K	$129K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2978	−0.368%	$112K	$66K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2992	+0.100%	$2.9M	$3.9M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2983	−0.201%	$41K	—	3x	as long as short
Phoenix JUP	+0.0162%	1h	0.2990	+0.023%	$97K	$479K	10x	as long as short
Hyperliquid JUP	+0.0175%	1h	0.2991	+0.051%	$19.2M	$13.1M	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3000	+0.381%	$75K	$95K	50x	as long as short
Extended JUP-USD	+0.0272%	1h	0.2983	−0.199%	$2.2M	$507K	25x	as long as short