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 +0.018%

Price spread now: Variational Omni against GRVT−0.214%7-day average −0.019% · you buy dearer than you sell

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

Long on GRVT Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 3 days (all we have)+0.147%+$15 · spread now −0.214%, 7d avg −0.019%

Together, before fees+0.164%+ Points / potential airdropGRVT: Active · Variational Omni: Active · farm board+$16 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: Variational Omni is 0.194% cheaper against GRVT than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT JUP_USDT_Perp	0.2978	0.0100	pay 0.0050% / 4h	2h 57m	$1.6M	$3.8M	10x
Short	Variational Omni JUP	0.2972	0.0100	get 0.0050% / 4h	2h 57m	$720K	$768K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.214%Rate

Funding earned: $0
Price spread: −0.214% → −0.019%: −$19.45
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$28.45
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 2 min ago; Variational Omni: RFQ quote, 27 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, 2 min ago	3.37 bp	31.8 bp −$32	149.4 bp −$1,494	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 27 min ago	8.30 bp	doesn't fit	31.5 bp −$315	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	−0.4347%	1h	0.2943	−1.187%	$3K	$206K	5.5x	as long as short
Backpack JUP_USDC_PERP	−0.0479%	1h	0.2957	−0.717%	$980K	$234K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0425%	1h	0.2960	−0.623%	$54K	$16K	10x	as long as short
Pacifica JUP	−0.0353%	1h	0.2967	−0.376%	$283K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2963	−0.499%	$16K	—	100x	as long as short
01 Exchange JUPUSD	−0.0152%	1h	0.2962	−0.539%	$26K	$19K	5x	as long as short
OKX JUP-USDT-SWAP	−0.0073%	4h	0.2953	−0.851%	$4.0M	$15.1M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2959	−0.644%	$595K	$523K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2969	−0.297%	$39K	$31K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2963	−0.521%	—	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JUPUSDT	+0.0039%	4h	0.2952	−0.878%	$16.1M	$20.4M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2962	−0.564%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0080%	8h	0.2965	−0.446%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2961	−0.596%	$783K	$1.3M	10x	as long as short
Gate JUP_USDT	+0.0096%	4h	0.2952	−0.884%	$732K	$1.4M	75x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2960	−0.616%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2963	−0.507%	$610K	$629K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2960	−0.626%	$19.0M	$11.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2966	−0.428%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2958	−0.683%	$16.3M	$47.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2971	−0.246%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2958	−0.683%	$7.7M	$6.8M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2959	−0.649%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2959	−0.649%	$5.8M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2954	−0.817%	—	$20.8M	—	as long as short
Variational Omni JUPshort	+0.0100%	4h	0.2972	−0.214%	$720K	$768K	—
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.2978	long leg	$1.6M	$3.8M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2977	−0.045%	$158K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2970	−0.287%	$93K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2964	−0.482%	$112K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2957	−0.707%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.834%	$40K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.2982	+0.106%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2962	−0.555%	$74K	$59K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2960	−0.616%	$849K	$365K	50x	as long as short
Phemex JUPUSDT	+0.0470%	4h	0.2959	−0.649%	$2.9M	$3.6M	50x	as long as short