Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.5061%/8h= +554.2% APRpaid last 24h +0.726%

Price spread now: Bybit against Injective+2.056%7-day average +2.017% · you sell dearer than you buy

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

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+2.510%+$251 on $10k

Price spread, last 4 days (all we have)−1.309%−$131 · spread now +2.056%, 7d avg +2.017%

Together, before fees+1.201%+$120 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$152 a day on $10k at the current rate, and Bybit is 0.040% dearer against Injective than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +2.017%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.510% in total (about 130.9% 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	0.2918	−0.5000	get 0.0625% / 1h	21m 09s	$3K	$206K	5.5x
Short	Bybit JUPUSDT	0.2978	0.0061	get 0.0031% / 4h	1h 21m	$16.0M	$19.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +2.056%Rate

Funding earned: $1,062.82
Price spread: +2.056% → +2.017%: $3.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $1,055.77
Costs to cover: 0.110%
Break-even: 0.0 days

Slippage unknown: Injective: live order book, 43 min ago; Bybit: 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, 43 min ago	78.26 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.68 bp	13.4 bp −$13	39.5 bp −$395	269.6 bp −$27.0K	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	−0.5000%	1h	0.2918	long leg	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2981	+2.144%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2979	+2.073%	$284K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2981	+2.159%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2980	+2.133%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2981	+2.159%	—	—	20x	as long as short
Bybit JUPUSDTshort	+0.0061%	4h	0.2978	+2.056%	$16.0M	$19.0M	50x
OKX JUP-USDT-SWAP	+0.0091%	4h	0.2979	+2.090%	$4.1M	$12.4M	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2984	+2.255%	$788K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2980	+2.130%	$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	0.2979	+2.108%	$602K	$506K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2984	+2.248%	$18.9M	$9.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2981	+2.168%	$115K	$297K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2981	+2.145%	$16.4M	$42.7M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2958	+1.371%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2981	+2.159%	$743K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2980	+2.125%	$7.4M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2981	+2.159%	$4.1M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2981	+2.159%	$5.8M	$5.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2980	+2.125%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2982	+2.186%	$990K	$247K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2954	+1.230%	$721K	$697K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2973	+1.885%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2971	+1.816%	$158K	$266K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+2.231%	$94K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2981	+2.159%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2974	+1.919%	$112K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2985	+2.296%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2979	+2.073%	$41K	—	3x	as long as short
dYdX JUP-USD	+0.0119%	1h	0.2976	+2.002%	$39K	$26K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0199%	1h	0.2980	+2.140%	$596K	$488K	20x	as long as short
01 Exchange JUPUSD	+0.0200%	1h	0.2983	+2.214%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2979	+2.101%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2979	+2.108%	$98K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2978	+2.056%	$845K	$382K	50x	as long as short
Extended JUP-USD	+0.0400%	1h	0.2979	+2.090%	$2.2M	$495K	25x	as long as short