JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0289%/8h= −31.6% APRnext payment −$0.36 per $10,000 · paid last 24h −0.042%

Price spread now: Backpack against Kraken Futures−0.039%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.630%−$63 on $10k

Price spread, last 4 days (all we have)−0.211%−$21 · spread now −0.039%, 7d avg −0.066%

Together, before fees−0.841%−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.027% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.039% now, against its 7-day average of −0.066%): +$3 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2972	0.0389	pay 0.0049% / 1h	22m 01s	$585K	$387K	20x
Short	Backpack JUP_USDC_PERP	0.2971	0.0100	get 0.0013% / 1h	22m 01s	$987K	$232K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$60.63
Price spread: −0.039% → −0.066%: $2.69
Slippage, 4 orders: −$48.79
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$126.73
Costs to cover: 0.688%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 29 min ago; Backpack: live order book, 30 min ago.

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 Kraken Futures live order book, 29 min ago	16.76 bp	25.3 bp −$25	111.5 bp −$1,115	doesn't fit	doesn't fit
Sell Backpack live order book, 30 min ago	1.01 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit

JUP on 36 exchanges

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 PERP	−0.3614%	1h	0.3020	+1.623%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2970	−0.058%	$16K	—	100x	as long as short
Pacifica JUP	−0.0028%	1h	0.2964	−0.268%	$282K	$131K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2958	−0.449%	$39K	$13K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.2969	−0.089%	$18K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2969	−0.080%	—	—	20x	as long as short
ApeX Omni JUPUSDT	+0.0065%	1h	0.2961	−0.362%	$163K	$234K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2972	+0.001%	$763K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2966	−0.191%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2968	−0.135%	$577K	$482K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2973	+0.055%	$18.3M	$8.6M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2968	−0.126%	$101K	$294K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2969	−0.108%	$16.3M	$37.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2968	−0.117%	$16.1M	$16.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2968	−0.127%	$4.1M	$10.0M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2968	−0.127%	$710K	$1.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2970	−0.059%	$8.1M	$5.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2969	−0.093%	$4.0M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2971	−0.026%	$5.9M	$4.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2969	−0.093%	—	$21.5M	—	as long as short
Backpack JUP_USDC_PERPshort	+0.0100%	1h	0.2971	−0.039%	$987K	$232K	10x
Variational Omni JUP	+0.0100%	4h	0.2960	−0.399%	$715K	$463K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2966	−0.178%	$1.6M	$4.0M	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2972	−0.002%	$94K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2970	−0.059%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2958	−0.463%	$112K	$50K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2964	−0.244%	$61K	$2K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2968	−0.140%	$2.2M	$545K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2970	−0.059%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0192%	1h	0.2966	−0.201%	$26K	$2K	5x	as long as short
Phemex JUPUSDT	+0.0245%	4h	0.2971	−0.026%	$2.9M	$2.9M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0289%	1h	0.2972	+0.001%	$55K	$9K	10x	as long as short
Phoenix JUP	+0.0318%	1h	0.2966	−0.201%	$97K	$265K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	−0.699%	$828K	$371K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0360%	1h	0.2972	+0.015%	$82K	$57K	50x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0389%	1h	0.2972	long leg	$585K	$387K	20x