Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.4447%/8h= +487.0% APRpaid last 24h +0.653%

Price spread now: Binance against Injective+1.569%7-day average +2.067% · you sell dearer than you buy

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+2.418%+$242 on $10k

Price spread, last 3 days (all we have)−1.182%−$118 · spread now +1.569%, 7d avg +2.067%

Together, before fees+1.236%+$124 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.498% cheaper against Injective than usual: you would sell low and buy high (spread +1.569% now, against its 7-day average of +2.067%). If the spread goes back, that is −$50 on $10k: about 9 hours of funding at the current rate (+$133 a day). At the pace of the last 7 days (+2.418% in total) that is about 35 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.418% in total (about 126.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective JUP/USDC PERP	0.2901	−0.4347	get 0.0543% / 1h	33m 14s	$3K	$206K	5.5x
Short	Binance JUPUSDT	0.2947	0.0100	get 0.0050% / 4h	2h 33m	$16.3M	$46.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +1.569%Rate

Funding earned: $933.97
Price spread: +1.569% → +2.067%: −$49.79
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $874.16
Costs to cover: 0.100%
Break-even: 0.4 days

Slippage unknown: Injective: live order book, 36 min ago; Binance: live order book, 9 min ago. 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 Injective live order book, 36 min ago	86.38 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	1.70 bp	11.4 bp −$11	28.4 bp −$284	133.1 bp −$13.3K	doesn't fit

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 PERPlong	−0.4347%	1h	0.2901	long leg	$3K	$206K	5.5x
Pacifica JUP	−0.0353%	1h	0.2948	+1.612%	$281K	$149K	10x	as long as short
Bybit JUPUSDT	−0.0309%	4h	0.2945	+1.527%	$15.8M	$20.4M	50x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2946	+1.568%	$16K	—	100x	as long as short
OKX JUP-USDT-SWAP	−0.0077%	4h	0.2945	+1.517%	$4.0M	$14.6M	50x	as long as short
Gate JUP_USDT	−0.0028%	4h	0.2947	+1.586%	$727K	$1.5M	75x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2948	+1.603%	$590K	$526K	20x	as long as short
Variational Omni JUP	−0.0015%	4h	0.2943	+1.432%	$718K	$766K	—	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2947	+1.589%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2947	+1.594%	—	—	150x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0020%	1h	0.2952	+1.742%	$39K	$29K	5x	as long as short
01 Exchange JUPUSD	+0.0056%	1h	0.2948	+1.627%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2946	+1.536%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0088%	8h	0.2948	+1.612%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2950	+1.675%	$780K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2948	+1.620%	$31K	$43K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2946	+1.551%	$599K	$605K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2950	+1.679%	$18.8M	$11.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2947	+1.597%	$114K	$323K	10x	as long as short
Binance JUPUSDTshort	+0.0100%	4h	0.2947	+1.569%	$16.3M	$46.9M	75x
Bulk JUP-USD	+0.0100%	1h	0.2936	+1.211%	$61K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2946	+1.551%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2948	+1.620%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2947	+1.586%	$5.7M	$6.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2948	+1.620%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2952	+1.741%	$977K	$236K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2950	+1.685%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2948	+1.620%	$157K	$302K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2950	+1.682%	$93K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2942	+1.413%	$111K	$55K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2944	+1.499%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2937	+1.224%	$97K	$402K	10x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2945	+1.533%	$2.2M	$486K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2949	+1.668%	$74K	$53K	50x	as long as short
Phemex JUPUSDT	+0.0323%	4h	0.2951	+1.724%	$2.9M	$3.6M	50x	as long as short