Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.058%

Price spread now: Orderly against Hyperliquid−0.034%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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: Orderly is 0.034% cheaper against Hyperliquid than usual: you would sell low and buy high, −$3 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	0.2967	0.0100	pay 0.0013% / 1h	42m 02s	$19.0M	$14.1M	10x
Short	Orderly PERP_JUP_USDC	0.2966	0.0099	get 0.0050% / 4h	2h 42m	$31K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.034%Rate

Funding earned: −$0.15
Price spread: −0.034% → 0.000%: −$3.37
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$18.52
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; Orderly: 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, 11 min ago	1.18 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	0.2929	−1.281%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0745% / S +0.0257%	1h	0.2966	−0.036%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0348%	4h	0.2961	−0.189%	$16.2M	$24.1M	50x	as long as short
Gate JUP_USDT	−0.0018%	4h	0.2961	−0.202%	$738K	$1.9M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2964	−0.108%	$94K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2966	−0.037%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2967	−0.008%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2966	−0.041%	$602K	$623K	20x	as long as short
dYdX JUP-USD	+0.0016%	1h	0.2965	−0.071%	$39K	$36K	5x	as long as short
Backpack JUP_USDC_PERP	+0.0025%	1h	0.2964	−0.091%	$983K	$268K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0047%	4h	0.2960	−0.236%	$866K	$330K	50x	as long as short
01 Exchange JUPUSD	+0.0048%	1h	0.2968	+0.020%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2963	−0.138%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2964	−0.090%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2968	+0.030%	$895K	$1.3M	10x	as long as short
Variational Omni JUP	+0.0098%	4h	0.2958	−0.303%	$724K	$1.2M	—	as long as short
Orderly PERP_JUP_USDCshort	+0.0099%	4h	0.2966	−0.034%	$31K	$51K	10x
Nado JUP-PERP	+0.0100%	1h	0.2962	−0.152%	$598K	$668K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2967	long leg	$19.0M	$14.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2966	−0.050%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2965	−0.052%	$283K	$185K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2964	−0.101%	$16.4M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2963	−0.135%	$4.1M	$16.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	−0.078%	$58K	$4K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2965	−0.067%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2965	−0.067%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2965	−0.067%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2963	−0.135%	—	$21.6M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	−0.202%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2961	−0.202%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2969	+0.064%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2958	−0.303%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2968	+0.034%	$2.9M	$4.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2963	−0.152%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.698%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2962	−0.160%	$2.2M	$539K	25x	as long as short