Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0077%/8h= −8.5% APRpaid last 24h −0.026%

Price spread now: BingX against Kraken Futures+0.003%7-day average −0.116% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.658%−$66 on $10k

Price spread, last 4 days (all we have)−0.273%−$27 · spread now +0.003%, 7d avg −0.116%

Together, before fees−0.930%−$93 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.119% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.003% now, against its 7-day average of −0.116%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.1 days. At the pace of the last 7 days (−0.658% in total) that is about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2959	0.0177	pay 0.0022% / 1h	31m 38s	$592K	$467K	20x
Short	BingX JUP-USDT	0.2959	0.0100	get 0.0050% / 4h	3h 31m	—	$20.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$16.23
Price spread: +0.003% → −0.116%: $11.93
Slippage, 4 orders: −$46.36
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$70.67
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 21 min ago; BingX: live order book, 7 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, 21 min ago	16.83 bp	26.4 bp −$26	133.8 bp −$1,338	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	3.38 bp	8.4 bp −$8	12.0 bp −$120	22.0 bp −$2,199	64.9 bp −$32.5K

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	−0.5000%	1h	0.2918	−1.383%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2958	−0.018%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2959	+0.002%	$282K	$146K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2957	−0.052%	$39K	$21K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2959	−0.011%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2957	−0.060%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0021%	1h	0.2958	−0.027%	$977K	$187K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2956	−0.107%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2962	+0.108%	$781K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2957	−0.072%	$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	0.2956	−0.082%	$598K	$488K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2961	+0.085%	$18.6M	$9.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2959	−0.009%	$110K	$286K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2959	−0.005%	$16.2M	$39.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2957	−0.065%	$15.9M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2959	+0.003%	$4.0M	$11.1M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2958	−0.031%	$733K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2958	−0.031%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2958	−0.031%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2962	+0.104%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2959	+0.003%	—	$20.7M	—
Variational Omni JUP	+0.0100%	4h	0.2951	−0.268%	$721K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2957	−0.079%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2955	−0.132%	$163K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2960	+0.037%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	−0.065%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2950	−0.301%	$111K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2959	+0.003%	$2.9M	$3.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2954	−0.166%	$61K	−$0	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2957	−0.082%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0168%	1h	0.2960	+0.023%	$26K	$17K	5x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0177%	1h	0.2959	long leg	$592K	$467K	20x
Phoenix JUP	+0.0216%	1h	0.2955	−0.125%	$97K	$283K	10x	as long as short
Extended JUP-USD	+0.0232%	1h	0.2961	+0.084%	$2.2M	$498K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2961	+0.060%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	−0.267%	$833K	$375K	50x	as long as short