Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.049%

Price spread now: OKX against Hyperliquid−0.091%7-day average −0.115% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 7 days+0.079%+$8 · spread now −0.091%, 7d avg −0.115%

Together, before fees−0.001%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.024% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.091% now, against its 7-day average of −0.115%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.8 days. At the pace of the last 7 days (−0.080% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2976	0.0100	pay 0.0013% / 1h	22m 43s	$18.9M	$9.7M	10x
Short	OKX JUP-USDT-SWAP	0.2973	0.0083	get 0.0042% / 4h	1h 22m	$4.1M	$12.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$3.54
Price spread: −0.091% → −0.115%: $2.45
Slippage, 4 orders: −$35.71
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$55.81
Costs to cover: 0.547%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; OKX: 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, 10 min ago	0.17 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	3.37 bp	15.0 bp −$15	58.7 bp −$587	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	−1.939%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2972	−0.110%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2970	−0.183%	$283K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2973	−0.081%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2971	−0.151%	—	—	150x	as long as short
Bybit JUPUSDT	+0.0044%	4h	0.2970	−0.192%	$15.9M	$19.1M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2971	−0.167%	—	—	20x	as long as short
OKX JUP-USDT-SWAPshort	+0.0083%	4h	0.2973	−0.091%	$4.1M	$12.4M	50x
Lighter JUP	+0.0096%	1h	0.2976	+0.013%	$786K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2972	−0.140%	$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	0.2968	−0.242%	$600K	$507K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2976	long leg	$18.9M	$9.7M	10x
Aster JUPUSDT	+0.0100%	4h	0.2972	−0.125%	$115K	$297K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2972	−0.110%	$16.4M	$42.7M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2958	−0.595%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2969	−0.225%	$741K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2972	−0.124%	$7.4M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2971	−0.158%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2972	−0.124%	$5.8M	$5.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2973	−0.091%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2972	−0.131%	$987K	$247K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2954	−0.733%	$721K	$697K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2955	−0.696%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2960	−0.528%	$157K	$266K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2974	−0.047%	$94K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2972	−0.124%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2965	−0.360%	$112K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2975	−0.024%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2970	−0.175%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0109%	1h	0.2968	−0.245%	$39K	$26K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0199%	1h	0.2972	−0.109%	$595K	$488K	20x	as long as short
01 Exchange JUPUSD	+0.0200%	1h	0.2973	−0.077%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2972	−0.121%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2961	−0.497%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2973	−0.091%	$850K	$382K	50x	as long as short
Extended JUP-USD	+0.0384%	1h	0.2971	−0.168%	$2.2M	$495K	25x	as long as short