Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.024%

Price spread now: ApeX Omni against Hyperliquid−0.247%65s7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.545% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.381%+$38 · spread now −0.247%, 7d avg −0.053%

Together, before fees+0.371%+ Points / potential airdropHyperliquid: Season 2 · farm board+$37 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: ApeX Omni is 0.193% cheaper against Hyperliquid than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.053%. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2956	0.0100	pay 0.0013% / 1h	36m 18s	$18.6M	$9.1M	10x
Short	ApeX Omni JUPUSDT	0.2949	0.0100	get 0.0013% / 1h	36m 18s	$163K	$254K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.247%Rate

Funding earned: $0
Price spread: −0.247% → −0.053%: −$19.35
Slippage, 4 orders: −$35.53
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$73.88
Costs to cover: 0.545%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; ApeX Omni: live order book, 15 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 Hyperliquid live order book, 7 min ago	0.17 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 15 min ago	10.13 bp	17.6 bp −$18	109.3 bp −$1,093	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	0.2918	−1.296%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2952	−0.137%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2956	−0.020%	$282K	$146K	10x	as long as short
Backpack JUP_USDC_PERP	−0.0047%	1h	0.2959	+0.074%	$977K	$187K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2957	+0.037%	$39K	$22K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2952	−0.162%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2953	−0.105%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2952	−0.136%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2958	+0.054%	$780K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2956	−0.024%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2955	−0.052%	$597K	$487K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2956	long leg	$18.6M	$9.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2957	+0.032%	$110K	$286K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2952	−0.145%	$16.2M	$40.0M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2951	−0.166%	$15.9M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2951	−0.179%	$4.0M	$11.1M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2955	−0.044%	$733K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2953	−0.112%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2956	−0.010%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2954	−0.078%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2952	−0.145%	—	$20.7M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2946	−0.349%	$718K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2950	−0.213%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDTshort	+0.0100%	1h	0.2949	−0.247%	$163K	$254K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2956	−0.010%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2952	−0.145%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.382%	$111K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2954	−0.078%	$2.9M	$3.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2959	+0.088%	$62K	−$0	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2950	−0.222%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0168%	1h	0.2956	−0.003%	$26K	$17K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0178%	1h	0.2954	−0.079%	$591K	$467K	20x	as long as short
Phoenix JUP	+0.0216%	1h	0.2954	−0.091%	$97K	$283K	10x	as long as short
Extended JUP-USD	+0.0232%	1h	0.2950	−0.199%	$2.2M	$497K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2961	+0.149%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2959	+0.091%	$833K	$376K	50x	as long as short