Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.5100%/8h= +558.5% APRpaid last 24h +0.974%

Price spread now: GRVT against Injective+0.860%7-day average +1.638% · you sell dearer than you buy

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

Long on Injective Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+2.811%+$281 on $10k

Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.860%, 7d avg +1.638%

Together, before fees+2.667%+ Points / potential airdropGRVT: Active · farm board+$267 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.778% cheaper against Injective than usual: you would sell low and buy high (spread +0.860% now, against its 7-day average of +1.638%). If the spread goes back, that is −$78 on $10k: about 12 hours of funding at the current rate (+$153 a day). At the pace of the last 7 days (+2.811% in total) that is about 46 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.811% in total (about 146.6% 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	0.2911	−0.5000	get 0.0625% / 1h	50m 52s	$3K	$206K	5.5x
Short	GRVT JUP_USDT_Perp	0.2936	0.0100	get 0.0050% / 4h	1h 50m	$1.6M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.860%Rate

Funding earned: $1,071
Price spread: +0.860% → +1.638%: −$77.81
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $984.17
Costs to cover: 0.090%
Break-even: 0.6 days

Slippage unknown: Injective: live order book, 58 min ago; GRVT: live order book, 3 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, 58 min ago	67.91 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	1.70 bp	28.4 bp −$28	119.8 bp −$1,198	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	−0.5000%	1h	0.2911	long leg	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2935	+0.836%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2930	+0.642%	$279K	$143K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2934	+0.794%	$39K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2935	+0.824%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2934	+0.799%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2933	+0.757%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2937	+0.903%	$761K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2931	+0.672%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2933	+0.756%	$575K	$494K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2938	+0.934%	$18.1M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2935	+0.834%	$107K	$282K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2935	+0.834%	$16.1M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2933	+0.756%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2936	+0.859%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2934	+0.790%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2932	+0.721%	$711K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2934	+0.790%	$6.8M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2934	+0.790%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2935	+0.824%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2933	+0.756%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2936	+0.866%	$971K	$233K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2932	+0.722%	$711K	$625K	—	as long as short
GRVT JUP_USDT_Perpshort	+0.0100%	4h	0.2936	+0.860%	$1.6M	$4.0M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2935	+0.824%	$162K	$256K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2936	+0.859%	$92K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2934	+0.790%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2926	+0.515%	$110K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2933	+0.745%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0112%	1h	0.2931	+0.694%	$26K	$8K	5x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2934	+0.797%	$2.2M	$570K	25x	as long as short
Phoenix JUP	+0.0244%	1h	0.2936	+0.852%	$98K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2936	+0.859%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2935	+0.824%	$831K	$379K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0375%	1h	0.2936	+0.859%	$579K	$462K	20x	as long as short
Phemex JUPUSDT	+0.0568%	4h	0.2939	+0.962%	$2.9M	$3.1M	50x	as long as short