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 +0.973%

Price spread now: Orderly against Injective+0.826%58s7-day average — · you sell dearer than you buy

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

Long on Injective 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—needs both histories

Both sides work for this trade now. Funding pays +$153 a day on $10k at the current rate, and Orderly is 0.826% dearer against Injective than usual: you sell high and buy low: +$83 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective JUP/USDC PERP	0.2904	−0.5000	get 0.0625% / 1h	4m 01s	$3K	$206K	5.5x
Short	Orderly PERP_JUP_USDC	0.2928	0.0100	get 0.0050% / 4h	1h 04m	$33K	$29K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.826%Rate

Funding earned: $1,071
Price spread: +0.826% → 0.000%: $82.64
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1,147.62
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: live order book, 40 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 Injective live order book, 40 min ago	104.11 bp	doesn't fit	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 PERPlong	−0.5000%	1h	0.2904	long leg	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2928	+0.810%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2928	+0.815%	$279K	$138K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2929	+0.851%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2928	+0.817%	—	—	150x	as long as short
dYdX JUP-USD	+0.0033%	1h	0.2931	+0.944%	$39K	$16K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2926	+0.767%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2931	+0.919%	$758K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2928	+0.812%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2929	+0.878%	$571K	$490K	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	0.2930	+0.885%	$18.1M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2929	+0.860%	$106K	$280K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2927	+0.805%	$16.1M	$38.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2926	+0.744%	$15.9M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2928	+0.826%	$4.0M	$10.3M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2930	+0.895%	$700K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2927	+0.792%	$6.7M	$5.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2930	+0.895%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2929	+0.861%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2929	+0.861%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2928	+0.837%	$969K	$226K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2934	+1.033%	$711K	$531K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2937	+1.136%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2936	+1.102%	$162K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2931	+0.916%	$92K	$105K	10x	as long as short
Orderly PERP_JUP_USDCshort	+0.0100%	4h	0.2928	+0.826%	$33K	$29K	10x
HTX JUP-USDT	+0.0100%	4h	0.2926	+0.758%	$110K	$43K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2934	+1.050%	$61K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2926	+0.769%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0208%	1h	0.2928	+0.833%	$26K	$6K	5x	as long as short
Phoenix JUP	+0.0244%	1h	0.2938	+1.174%	$98K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2940	+1.257%	$74K	$48K	50x	as long as short
Extended JUP-USD	+0.0320%	1h	0.2926	+0.763%	$2.2M	$572K	25x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2933	+0.999%	$823K	$373K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0376%	1h	0.2929	+0.866%	$578K	$418K	20x	as long as short
Phemex JUPUSDT	+0.0515%	4h	0.2931	+0.930%	$2.9M	$3.0M	50x	as long as short