Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.024%

Price spread now: Lighter against GRVT+0.208%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.196%−$20 · spread now +0.208%, 7d avg +0.066%

Together, before fees−0.178%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board−$18 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: Lighter is 0.142% dearer against GRVT than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT JUP_USDT_Perp	0.3005	0.0100	pay 0.0050% / 4h	3h 19m	$1.7M	$3.8M	10x
Short	Lighter JUP	0.3012	0.0096	get 0.0012% / 1h	19m 22s	$755K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.208%Rate

Funding earned: −$0.84
Price spread: +0.208% → +0.066%: $14.18
Slippage, 4 orders: −$43.7
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$39.36
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Lighter: live order book, 2 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, 5 min ago	1.66 bp	17.8 bp −$18	63.2 bp −$632	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	3.82 bp	10.8 bp −$11	52.6 bp −$526	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	−0.4634%	1h	0.2976	−0.977%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.3009	+0.135%	$287K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.3009	+0.121%	$17K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0101%	1h	0.3010	+0.161%	$606K	$526K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0082%	1h	0.3010	+0.141%	$55K	$16K	10x	as long as short
01 Exchange JUPUSD	−0.0064%	1h	0.3012	+0.211%	$27K	$19K	5x	as long as short
OKX JUP-USDT-SWAP	−0.0017%	4h	0.3007	+0.055%	$4.1M	$15.7M	50x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3011	+0.199%	$1K	—	150x	as long as short
dYdX JUP-USD	+0.0037%	1h	0.3010	+0.168%	$39K	$32K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.3009	+0.114%	—	—	20x	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	0.3009	+0.121%	$9K	$13K	10x	as long as short
Lighter JUPshort	+0.0096%	1h	0.3012	+0.208%	$755K	$1.3M	10x
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3010	+0.155%	$32K	$45K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.3008	+0.088%	$624K	$627K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.3014	+0.294%	$19.4M	$11.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3011	+0.187%	$116K	$334K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3009	+0.134%	$16.6M	$49.0M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.3007	+0.068%	$16.5M	$20.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.3007	+0.062%	$63K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3009	+0.121%	$752K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3009	+0.121%	$7.9M	$7.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3010	+0.155%	$4.1M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3009	+0.121%	$5.9M	$6.8M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3008	+0.088%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3011	+0.178%	$996K	$229K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.3002	−0.112%	$727K	$770K	—	as long as short
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.3005	long leg	$1.7M	$3.8M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.3004	−0.045%	$160K	$308K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3014	+0.278%	$95K	$112K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.3006	+0.021%	$113K	$54K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3013	+0.254%	$3.0M	$3.7M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.3006	+0.032%	$2.2M	$488K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.3035	+0.998%	$41K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.3016	+0.344%	$98K	$469K	10x	as long as short
BloFin JUP-USDT	+0.0247%	4h	0.3005	−0.012%	$848K	$349K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3008	+0.085%	$75K	$60K	50x	as long as short