Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h −0.075%

Price spread now: Bitget against Kraken Futures−0.124%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$800.804% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.678%−$68 on $10k

Price spread, last 3 days (all we have)−0.232%−$23 · spread now −0.124%, 7d avg −0.129%

Together, before fees−0.910%−$91 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.129%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.678%, 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	0.2975	0.0009	pay 0.0001% / 1h	15m 39s	$603K	$624K	20x
Short	Bitget JUPUSDT	0.2971	0.0100	get 0.0050% / 4h	2h 15m	$5.7M	$8.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.124%Rate

Funding earned: $19.2
Price spread: −0.124% → −0.129%: $0.49
Slippage, 4 orders: −$58.36
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$60.67
Costs to cover: 0.804%
Break-even: 29.1 days

Slippage from Kraken Futures: live order book, 7 min ago; Bitget: live order book, 3 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, 7 min ago	20.13 bp	28.1 bp −$28	223.8 bp −$2,238	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.68 bp	16.0 bp −$16	28.5 bp −$285	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 PERP	−0.5000%	1h	0.2978	+0.111%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0872% / S +0.0327%	1h	0.2975	+0.004%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0119%	4h	0.2969	−0.191%	$16.2M	$24.0M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0019%	1h	0.2975	+0.017%	$56K	$14K	10x	as long as short
Phoenix JUP	0.0000%	1h	0.2979	+0.148%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2976	+0.032%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0002%	4h	0.2969	−0.191%	$739K	$2.0M	75x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0009%	1h	0.2975	long leg	$603K	$624K	20x
dYdX JUP-USD	+0.0027%	1h	0.2975	+0.006%	$39K	$36K	5x	as long as short
BloFin JUP-USDT	+0.0043%	4h	0.2979	+0.145%	$859K	$334K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0048%	1h	0.2971	−0.134%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2973	−0.070%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2971	−0.130%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2975	−0.003%	$868K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2974	−0.023%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2973	−0.065%	$598K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2976	+0.054%	$19.1M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2976	+0.041%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2972	−0.100%	$283K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2971	−0.129%	$16.4M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2972	−0.090%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2971	−0.124%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2975	+0.011%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDTshort	+0.0100%	4h	0.2971	−0.124%	$5.7M	$8.5M	75x
BingX JUP-USDT	+0.0100%	4h	0.2971	−0.124%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2974	−0.040%	$984K	$266K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2979	+0.156%	$729K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2978	+0.112%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2979	+0.145%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2981	+0.202%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2970	−0.157%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2979	+0.145%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2982	+0.246%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2972	−0.085%	$41K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.498%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2970	−0.162%	$2.2M	$539K	25x	as long as short