Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.070%

Price spread now: Gate against Hyperliquid−0.235%7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$720.721% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now −0.235%, 7d avg −0.138%

Together, before fees+0.030%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.097% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.138%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2978	0.0103	pay 0.0013% / 1h	16m 44s	$19.1M	$13.1M	10x
Short	Gate JUP_USDT	0.2971	0.0048	get 0.0024% / 4h	16m 44s	$740K	$1.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.235%Rate

Funding earned: −$11.55
Price spread: −0.235% → −0.138%: −$9.72
Slippage, 4 orders: −$48.07
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$93.34
Costs to cover: 0.721%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Gate: live order book, 1 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, 6 min ago	0.17 bp	15.3 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.37 bp	24.7 bp −$25	92.7 bp −$927	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	−0.4371%	1h	0.2938	−1.343%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2971	−0.225%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2974	−0.126%	$599K	$597K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2972	−0.193%	$283K	$165K	10x	as long as short
Bybit JUPUSDT	−0.0056%	4h	0.2969	−0.299%	$16.2M	$22.2M	50x	as long as short
01 Exchange JUPUSD	−0.0008%	1h	0.2973	−0.171%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2971	−0.235%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2972	−0.186%	$17K	—	150x	as long as short
Gate JUP_USDTshort	+0.0048%	4h	0.2971	−0.235%	$740K	$1.8M	75x
Reya JUPRUSDPERP	+0.0057%	1h	0.2968	−0.350%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0064%	1h	0.2975	−0.116%	$39K	$33K	5x	as long as short
Variational Omni JUP	+0.0068%	4h	0.2976	−0.064%	$720K	$829K	—	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2973	−0.174%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2975	−0.114%	$795K	$1.4M	10x	as long as short
OKX JUP-USDT-SWAP	+0.0098%	4h	0.2969	−0.302%	$4.0M	$16.2M	50x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2972	−0.201%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2970	−0.277%	$615K	$653K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2973	−0.158%	$115K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2973	−0.175%	$16.3M	$52.3M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2975	−0.097%	$62K	$10K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2973	−0.168%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2974	−0.134%	$4.2M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2972	−0.201%	$5.8M	$7.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2970	−0.269%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2973	−0.178%	$984K	$236K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2977	−0.020%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2974	−0.134%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2976	−0.071%	$94K	$121K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2965	−0.437%	$111K	$62K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2976	−0.067%	$2.9M	$3.9M	50x	as long as short
Hyperliquid JUPlong	+0.0103%	1h	0.2978	long leg	$19.1M	$13.1M	10x
Aevo JUP-PERP	+0.0104%	1h	0.2968	−0.344%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0137%	4h	0.2973	−0.168%	$849K	$302K	50x	as long as short
Phoenix JUP	+0.0162%	1h	0.2975	−0.114%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0192%	1h	0.2970	−0.271%	$2.2M	$507K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2978	0.000%	$74K	$91K	50x	as long as short