Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.012%

Price spread now: Backpack against HTX+0.348%7-day average +0.247% · you sell dearer than you buy

Net, funding: paid 7d − costs−$248as in the Funding arb table

Net, price: spread back to 7d avg − costs−$241as in the Price arb table

costs, in and out, $10k−$2522.516% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 3 days (all we have)−0.225%−$22 · spread now +0.348%, 7d avg +0.247%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.101% dearer against HTX than usual: you sell high and buy low (spread +0.348% now, against its 7-day average of +0.247%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX JUP-USDT	0.2956	0.0100	pay 0.0050% / 4h	2h 42m	$111K	$69K	20x
Short	Backpack JUP_USDC_PERP	0.2966	−0.0010	pay 0.0001% / 1h	42m 29s	$984K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now +0.348%Rate

Funding earned: −$23.08
Price spread: +0.348% → +0.247%: $10.15
Slippage, 4 orders: −$229.55
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$264.48
Costs to cover: 2.516%
Break-even: never at this rate

Slippage from HTX: live order book, 43 min ago; Backpack: live order book, 46 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 HTX live order book, 43 min ago	11.76 bp	123.4 bp −$123	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 46 min ago	2.01 bp	8.8 bp −$9	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 PERP	−0.5000%	1h	0.2929	−0.913%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0742% / S +0.0256%	1h	0.2965	+0.308%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0348%	4h	0.2962	+0.210%	$16.3M	$24.1M	50x	as long as short
Gate JUP_USDT	−0.0018%	4h	0.2961	+0.169%	$738K	$1.9M	75x	as long as short
Backpack JUP_USDC_PERPshort	−0.0010%	1h	0.2966	+0.348%	$984K	$270K	10x
Phoenix JUP	0.0000%	1h	0.2964	+0.264%	$94K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2967	+0.379%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2967	+0.364%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2966	+0.352%	$602K	$623K	20x	as long as short
dYdX JUP-USD	+0.0016%	1h	0.2965	+0.300%	$39K	$36K	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	+0.0047%	4h	0.2960	+0.135%	$866K	$330K	50x	as long as short
01 Exchange JUPUSD	+0.0048%	1h	0.2968	+0.392%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2963	+0.233%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2964	+0.282%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2968	+0.416%	$896K	$1.3M	10x	as long as short
Variational Omni JUP	+0.0098%	4h	0.2958	+0.068%	$724K	$1.2M	—	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2967	+0.372%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2962	+0.220%	$598K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2969	+0.438%	$19.0M	$14.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2965	+0.312%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2965	+0.320%	$283K	$185K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2965	+0.320%	$16.5M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2963	+0.237%	$4.1M	$16.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	+0.294%	$58K	$4K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2965	+0.304%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2966	+0.338%	$4.5M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2965	+0.304%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2963	+0.237%	—	$21.6M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	+0.169%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2961	+0.169%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2969	+0.436%	$94K	$137K	10x	as long as short
HTX JUP-USDTlong	+0.0100%	4h	0.2956	long leg	$111K	$69K	20x
Phemex JUPUSDT	+0.0100%	4h	0.2968	+0.406%	$2.9M	$4.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2963	+0.232%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+1.072%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2962	+0.209%	$2.2M	$539K	25x	as long as short