Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h +0.088%

Price spread now: Kraken Futures against GRVT−0.019%7-day average +0.120% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$840.840% of the position

Long on GRVT Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.648%+$65 on $10k

Price spread, last 3 days (all we have)+0.223%+$22 · spread now −0.019%, 7d avg +0.120%

Together, before fees+0.871%+ Points / potential airdropGRVT: Active · farm board+$87 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.139% cheaper against GRVT than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.120%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.648%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT JUP_USDT_Perp	0.2955	0.0100	pay 0.0050% / 4h	1h 11m	$1.6M	$4.0M	10x
Short	Kraken Futures PF_JUPUSD	0.2954	−0.0176	pay 0.0022% / 1h	11m 35s	$598K	$616K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$57.96
Price spread: −0.019% → +0.120%: −$13.93
Slippage, 4 orders: −$64.98
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$155.87
Costs to cover: 0.840%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; Kraken Futures: live order book, 6 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	17.2 bp −$17	71.6 bp −$716	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	11.84 bp	21.0 bp −$21	69.6 bp −$696	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	−0.3508%	1h	0.2911	−1.487%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2955	−0.012%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2953	−0.052%	$281K	$171K	10x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0176%	1h	0.2954	−0.019%	$598K	$616K	20x
01 Exchange JUPUSD	−0.0008%	1h	0.2953	−0.055%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2955	+0.019%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2956	+0.019%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0004%	4h	0.2952	−0.099%	$745K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2953	−0.079%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0063%	4h	0.2950	−0.154%	$16.1M	$23.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0076%	8h	0.2953	−0.059%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2956	+0.036%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2952	−0.091%	$610K	$669K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2959	+0.124%	$19.0M	$13.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2956	+0.033%	$106K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2953	−0.072%	$16.3M	$54.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2952	−0.099%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2959	+0.137%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2952	−0.099%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2956	+0.036%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2953	−0.066%	$5.6M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2953	−0.066%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2953	−0.052%	$977K	$254K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2952	−0.112%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.2955	long leg	$1.6M	$4.0M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	+0.036%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2958	+0.110%	$93K	$131K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	+0.002%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.303%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2958	+0.104%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2952	−0.098%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0126%	1h	0.2957	+0.058%	$39K	$35K	5x	as long as short
BloFin JUP-USDT	+0.0148%	4h	0.2954	−0.032%	$844K	$327K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.164%	$95K	$441K	10x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2952	−0.112%	$2.2M	$504K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2957	+0.083%	$74K	$94K	50x	as long as short