Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.024%

Price spread now: Phemex against GRVT+0.502%7-day average +0.168% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$830.835% of the position

Long on GRVT Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 3 days (all we have)−0.307%−$31 · spread now +0.502%, 7d avg +0.168%

Together, before fees−0.274%+ Points / potential airdropGRVT: Active · farm board−$27 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: Phemex is 0.334% dearer against GRVT than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of +0.168%.

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	3h 42m	$1.6M	$3.7M	10x
Short	Phemex JUPUSDT	0.3004	0.0100	get 0.0050% / 4h	3h 42m	$2.9M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.502%Rate

Funding earned: $0
Price spread: +0.502% → +0.168%: $33.4
Slippage, 4 orders: −$62.47
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$50.07
Costs to cover: 0.835%
Break-even: never at this rate

Slippage from GRVT: live order book, 1 min ago; Phemex: 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, 1 min ago	1.67 bp	23.4 bp −$23	50.2 bp −$502	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	5.01 bp	24.1 bp −$24	79.0 bp −$790	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	0.2959	−1.004%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.3003	+0.484%	$286K	$150K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.3002	+0.429%	$17K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0101%	1h	0.3002	+0.422%	$604K	$542K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.3002	+0.438%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3001	+0.416%	$17K	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0015%	4h	0.3001	+0.401%	$4.1M	$16.1M	50x	as long as short
01 Exchange JUPUSD	+0.0024%	1h	0.2995	+0.214%	$26K	$19K	5x	as long as short
dYdX JUP-USD	+0.0029%	1h	0.3005	+0.519%	$39K	$32K	5x	as long as short
BloFin JUP-USDT	+0.0052%	4h	0.3003	+0.468%	$851K	$318K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.3000	+0.353%	—	—	20x	as long as short
Variational Omni JUP	+0.0076%	4h	0.2985	−0.133%	$723K	$776K	—	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.3003	+0.471%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.3005	+0.525%	$756K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3002	+0.435%	$31K	$47K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.3000	+0.360%	$622K	$639K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.3008	+0.639%	$19.3M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3004	+0.503%	$116K	$336K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3003	+0.483%	$16.5M	$50.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.3002	+0.435%	$16.4M	$21.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2987	−0.062%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3002	+0.435%	$755K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3001	+0.401%	$8.2M	$7.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3005	+0.535%	$4.2M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3003	+0.468%	$5.9M	$7.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3002	+0.435%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3003	+0.482%	$994K	$232K	10x	as long as short
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.2989	long leg	$1.6M	$3.7M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2984	−0.167%	$159K	$312K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3003	+0.468%	$95K	$116K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2982	−0.234%	$112K	$57K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.3004	+0.502%	$2.9M	$3.8M	50x
Aevo JUP-PERP	+0.0104%	1h	0.3001	+0.401%	$41K	—	3x	as long as short
Extended JUP-USD	+0.0112%	1h	0.3000	+0.364%	$2.2M	$492K	25x	as long as short
Phoenix JUP	+0.0214%	1h	0.2989	+0.010%	$97K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3000	+0.375%	$75K	$89K	50x	as long as short