Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.052%

Price spread now: BingX against Hyperliquid−0.260%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$370.366% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days+0.219%+$22 · spread now −0.260%, 7d avg −0.097%

Together, before fees+0.217%+ Points / potential airdropHyperliquid: Season 2 · farm board+$22 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: BingX is 0.163% cheaper against Hyperliquid than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2962	0.0100	pay 0.0013% / 1h	24m 42s	$19.0M	$13.5M	10x
Short	BingX JUP-USDT	0.2954	0.0100	get 0.0050% / 4h	1h 24m	—	$20.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.260%Rate

Funding earned: $0
Price spread: −0.260% → −0.097%: −$16.27
Slippage, 4 orders: −$17.63
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$52.89
Costs to cover: 0.366%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; BingX: live order book, 4 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, 8 min ago	1.36 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	1.70 bp	6.7 bp −$7	11.0 bp −$110	24.5 bp −$2,448	81.6 bp −$40.8K

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	−0.3508%	1h	0.2911	−1.712%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2953	−0.303%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2949	−0.417%	$281K	$171K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2954	−0.270%	$600K	$617K	20x	as long as short
01 Exchange JUPUSD	−0.0064%	1h	0.2953	−0.290%	$26K	$19K	5x	as long as short
Gate JUP_USDT	−0.0020%	4h	0.2950	−0.395%	$746K	$1.9M	75x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2953	−0.287%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2953	−0.294%	$17K	—	150x	as long as short
BloFin JUP-USDT	+0.0053%	4h	0.2954	−0.260%	$849K	$324K	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2949	−0.416%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JUPUSDT	+0.0064%	4h	0.2953	−0.294%	$16.1M	$23.4M	50x	as long as short
Paradex JUP-USD-PERP	+0.0068%	8h	0.2949	−0.445%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2958	−0.128%	$793K	$1.3M	10x	as long as short
dYdX JUP-USD	+0.0098%	1h	0.2953	−0.308%	$39K	$35K	5x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2950	−0.378%	$612K	$672K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2962	long leg	$19.0M	$13.5M	10x
Aster JUPUSDT	+0.0100%	4h	0.2955	−0.226%	$106K	$365K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2955	−0.224%	$16.3M	$55.2M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2953	−0.294%	$4.1M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2956	−0.192%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2954	−0.260%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	−0.226%	$5.6M	$8.2M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2954	−0.260%	—	$20.9M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2954	−0.250%	$978K	$257K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2948	−0.458%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	−0.376%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2949	−0.429%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2955	−0.219%	$93K	$133K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2953	−0.294%	$31K	$50K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2944	−0.598%	$110K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2956	−0.192%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2941	−0.684%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2955	−0.236%	$2.2M	$503K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2952	−0.344%	$40K	—	3x	as long as short
Phoenix JUP	+0.0190%	1h	0.2955	−0.233%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2952	−0.328%	$73K	$92K	50x	as long as short