JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0201%/8h= −22.0% APRnext payment −$0.25 per $10,000 · paid last 24h −0.002%

Price spread now: Kraken Futures against Hyperliquid−0.102%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.644%+$64 on $10k

Price spread, last 3 days (all we have)+0.224%+$22 · spread now −0.102%, 7d avg −0.006%

Together, before fees+0.868%+ Points / potential airdropHyperliquid: Season 2 · farm board+$87 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.096% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.006%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.644%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2990	0.0100	pay 0.0013% / 1h	44m 09s	$19.2M	$13.0M	10x
Short	Kraken Futures PF_JUPUSD	0.2987	−0.0101	pay 0.0013% / 1h	44m 09s	$601K	$542K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.102%Rate

Funding earned: −$42.27
Price spread: −0.102% → −0.006%: −$9.55
Slippage, 4 orders: −$44.33
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$115.15
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Kraken Futures: live order book, 29 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, 9 min ago	2.51 bp	10.5 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 29 min ago	11.77 bp	24.3 bp −$24	93.5 bp −$935	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	−0.4634%	1h	0.2959	−1.031%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.2987	−0.108%	$285K	$150K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0219%	1h	0.2985	−0.148%	$55K	$16K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2986	−0.131%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0101%	1h	0.2987	−0.102%	$601K	$542K	20x
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2987	−0.097%	$17K	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0011%	4h	0.2988	−0.061%	$4.1M	$16.1M	50x	as long as short
01 Exchange JUPUSD	+0.0024%	1h	0.2988	−0.055%	$26K	$19K	5x	as long as short
dYdX JUP-USD	+0.0032%	1h	0.2990	+0.004%	$39K	$32K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2983	−0.244%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0076%	4h	0.2985	−0.160%	$723K	$776K	—	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.2986	−0.114%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2987	−0.105%	$751K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2986	−0.128%	$31K	$47K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2985	−0.145%	$619K	$639K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2990	long leg	$19.2M	$13.0M	10x
Aster JUPUSDT	+0.0100%	4h	0.2986	−0.112%	$115K	$340K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2987	−0.095%	$16.4M	$50.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2985	−0.162%	$16.3M	$21.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2987	−0.089%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2984	−0.195%	$753K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2984	−0.195%	$8.1M	$7.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2987	−0.095%	$4.2M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2988	−0.061%	$5.8M	$7.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2984	−0.195%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2986	−0.135%	$988K	$232K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2992	+0.083%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2991	+0.039%	$159K	$312K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2990	+0.006%	$94K	$117K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2979	−0.362%	$112K	$57K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2991	+0.039%	$2.9M	$3.8M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2983	−0.224%	$41K	—	3x	as long as short
Extended JUP-USD	+0.0112%	1h	0.2983	−0.224%	$2.2M	$492K	25x	as long as short
BloFin JUP-USDT	+0.0116%	4h	0.2987	−0.095%	$846K	$310K	50x	as long as short
Phoenix JUP	+0.0214%	1h	0.2991	+0.039%	$97K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2996	+0.213%	$75K	$88K	50x	as long as short