Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.029%

Price spread now: Bulk against Hyperliquid+0.273%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.273% dearer against Hyperliquid than usual: you sell high and buy low, +$27 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2937	0.0100	pay 0.0013% / 1h	47m 27s	$18.6M	$10.1M	10x
Short	Bulk JUP-USD	0.2945	0.0100	get 0.0013% / 1h	47m 27s	$61K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.273%Rate

Funding earned: $0
Price spread: +0.273% → 0.000%: $27.27
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $11.27
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 5 min ago; Bulk: no order-book sample. 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 Hyperliquid live order book, 5 min ago	0.85 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

JUP on 35 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	0.2904	−1.113%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2936	−0.036%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2935	−0.064%	$280K	$147K	10x	as long as short
Backpack JUP_USDC_PERP	−0.0105%	1h	0.2936	−0.020%	$974K	$231K	10x	as long as short
Bybit JUPUSDT	−0.0029%	4h	0.2930	−0.228%	$15.7M	$19.3M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2935	−0.041%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2934	−0.084%	—	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0004%	4h	0.2935	−0.058%	$4.0M	$12.5M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2933	−0.126%	—	—	20x	as long as short
dYdX JUP-USD	+0.0070%	1h	0.2937	+0.004%	$38K	$27K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0094%	4h	0.2946	+0.314%	$719K	$698K	—	as long as short
Paradex JUP-USD-PERP	+0.0096%	8h	0.2934	−0.105%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2938	+0.034%	$777K	$1.1M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2933	−0.109%	$593K	$509K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2937	long leg	$18.6M	$10.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2937	+0.005%	$113K	$299K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2933	−0.126%	$16.2M	$43.5M	75x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2934	−0.092%	$728K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2934	−0.092%	$7.4M	$6.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2934	−0.092%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2934	−0.092%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2933	−0.126%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+0.487%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2936	−0.024%	$156K	$275K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2938	+0.048%	$93K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2936	−0.024%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2931	−0.194%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2941	+0.146%	$2.9M	$3.4M	50x	as long as short
Bulk JUP-USDshort	+0.0100%	1h	0.2945	+0.273%	$61K	$8K	10x
Aevo JUP-PERP	+0.0104%	1h	0.2935	−0.058%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2935	−0.054%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0202%	1h	0.2937	+0.024%	$586K	$497K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2938	+0.051%	$74K	$49K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2943	+0.211%	$97K	$329K	10x	as long as short
Extended JUP-USD	+0.0368%	1h	0.2933	−0.118%	$2.2M	$490K	25x	as long as short