Funding arb · Price arb /

JUP

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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: Bitget against Injective+1.653%111s7-day average +2.055% · you sell dearer than you buy

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+2.437%+$244 on $10k

Price spread, last 3 days (all we have)−1.210%−$121 · spread now +1.653%, 7d avg +2.055%

Together, before fees+1.227%+$123 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.403% cheaper against Injective than usual: you would sell low and buy high (spread +1.653% now, against its 7-day average of +2.055%). If the spread goes back, that is −$40 on $10k: about 7 hours of funding at the current rate (+$133 a day). At the pace of the last 7 days (+2.437% in total) that is about 28 hours. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.437% in total (about 127.1% 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	0.2904	−0.4347	get 0.0543% / 1h	51m 23s	$3K	$206K	5.5x
Short	Bitget JUPUSDT	0.2952	0.0100	get 0.0050% / 4h	2h 51m	$5.7M	$6.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpOrdersPrice spread, now +1.653%Rate

Funding earned: $933.97
Price spread: +1.653% → +2.055%: −$40.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $881.7
Costs to cover: 0.120%
Break-even: 0.4 days

Slippage unknown: Injective: live order book, 17 min ago; Bitget: live order book, 2 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, 17 min ago	86.38 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	3.39 bp	14.7 bp −$15	45.4 bp −$454	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 PERPlong	−0.4347%	1h	0.2904	long leg	$3K	$206K	5.5x
Pacifica JUP	−0.0353%	1h	0.2952	+1.668%	$281K	$147K	10x	as long as short
Bybit JUPUSDT	−0.0274%	4h	0.2950	+1.584%	$15.9M	$20.7M	50x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2957	+1.837%	$16K	—	100x	as long as short
OKX JUP-USDT-SWAP	−0.0090%	4h	0.2952	+1.653%	$4.0M	$15.0M	50x	as long as short
Backpack JUP_USDC_PERP	−0.0071%	1h	0.2958	+1.863%	$979K	$235K	10x	as long as short
01 Exchange JUPUSD	−0.0048%	1h	0.2954	+1.739%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2958	+1.866%	$595K	$524K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2955	+1.750%	$39K	$31K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	+1.811%	$54K	$16K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2953	+1.699%	—	—	150x	as long as short
Gate JUP_USDT	+0.0024%	4h	0.2952	+1.653%	$742K	$1.5M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2951	+1.603%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.2951	+1.626%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2955	+1.763%	$782K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2953	+1.687%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2951	+1.618%	$606K	$611K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	+1.742%	$18.9M	$11.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2954	+1.724%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2953	+1.687%	$16.3M	$47.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2971	+2.307%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2951	+1.618%	$7.5M	$6.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	+1.687%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDTshort	+0.0100%	4h	0.2952	+1.653%	$5.7M	$6.7M	75x
BingX JUP-USDT	+0.0100%	4h	0.2951	+1.618%	—	$20.8M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2938	+1.172%	$713K	$768K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+1.612%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2950	+1.584%	$157K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2958	+1.842%	$93K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	+1.653%	$111K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2951	+1.610%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	+1.705%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2941	+1.288%	$96K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2960	+1.925%	$74K	$58K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	+1.618%	$854K	$380K	50x	as long as short
Phemex JUPUSDT	+0.0537%	4h	0.2961	+1.963%	$2.9M	$3.6M	50x	as long as short