Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0308%/8h= +33.8% APRpaid last 24h −0.057%

Price spread now: Binance against Kraken Futures−0.041%7-day average −0.101% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$680.684% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.711%−$71 on $10k

Price spread, last 3 days (all we have)−0.151%−$15 · spread now −0.041%, 7d avg −0.101%

Together, before fees−0.861%−$86 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Binance is 0.060% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.101%. Mind the row above: over the last 7 days funding on this pair cost −0.711%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2982	−0.0208	get 0.0026% / 1h	29m 26s	$601K	$601K	20x
Short	Binance JUPUSDT	0.2981	0.0100	get 0.0050% / 4h	29m 26s	$16.4M	$53.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.041%Rate

Funding earned: $64.78
Price spread: −0.041% → −0.101%: $5.99
Slippage, 4 orders: −$48.38
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $2.39
Costs to cover: 0.684%
Break-even: 6.7 days

Slippage from Kraken Futures: live order book, 49 min ago; Binance: live order book, 13 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, 49 min ago	11.84 bp	25.6 bp −$26	100.5 bp −$1,005	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	1.67 bp	12.1 bp −$12	26.7 bp −$267	136.4 bp −$13.6K	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 PERP	−0.4371%	1h	0.2950	−1.080%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2982	−0.020%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSDlong	−0.0208%	1h	0.2982	long leg	$601K	$601K	20x
Pacifica JUP	−0.0199%	1h	0.2980	−0.060%	$284K	$167K	10x	as long as short
Bybit JUPUSDT	−0.0029%	4h	0.2977	−0.175%	$16.2M	$22.6M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2982	−0.011%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2983	+0.026%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0024%	1h	0.2980	−0.058%	$26K	$19K	5x	as long as short
Gate JUP_USDT	+0.0050%	4h	0.2979	−0.108%	$746K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2979	−0.120%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0069%	1h	0.2984	+0.061%	$39K	$33K	5x	as long as short
Paradex JUP-USD-PERP	+0.0086%	8h	0.2980	−0.059%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2984	+0.046%	$797K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2982	−0.007%	$31K	$48K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2978	−0.136%	$721K	$941K	—	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2979	−0.108%	$614K	$658K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2982	+0.007%	$116K	$361K	10x	as long as short
Binance JUPUSDTshort	+0.0100%	4h	0.2981	−0.041%	$16.4M	$53.5M	75x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2978	−0.141%	$4.1M	$16.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2981	−0.038%	$58K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2981	−0.041%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2983	+0.026%	$4.2M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2980	−0.074%	$5.8M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2979	−0.108%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2980	−0.058%	$986K	$244K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2984	+0.060%	$1.7M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2987	+0.160%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.036%	$94K	$128K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2974	−0.276%	$112K	$66K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2987	+0.160%	$2.9M	$3.9M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2978	−0.133%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0131%	4h	0.2980	−0.074%	$846K	$329K	50x	as long as short
Hyperliquid JUP	+0.0147%	1h	0.2985	+0.093%	$19.2M	$13.1M	10x	as long as short
Phoenix JUP	+0.0162%	1h	0.2986	+0.123%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2979	−0.110%	$2.2M	$507K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3000	+0.610%	$75K	$93K	50x	as long as short