Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0364%/8h= +39.8% APRpaid last 24h −0.033%

Price spread now: BloFin against Kraken Futures−0.201%57s7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$760.763% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.345%−$35 on $10k

Price spread, last 3 days (all we have)+0.015%+$2 · spread now −0.201%, 7d avg −0.098%

Together, before fees−0.330%−$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.103% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.201% now, against its 7-day average of −0.098%). If the spread goes back, that is −$10 on $10k: about 23 hours of funding at the current rate (+$11 a day). Mind the row above: over the last 7 days funding on this pair cost −0.345%, so the current rate has only just turned in your favour. The two prices were read 57 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	Kraken Futures PF_JUPUSD	0.2960	−0.0024	get 0.0003% / 1h	49m 41s	$595K	$524K	20x
Short	BloFin JUP-USDT	0.2954	0.0340	get 0.0170% / 4h	2h 49m	$851K	$379K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.201%Rate

Funding earned: $76.38
Price spread: −0.201% → −0.098%: −$10.32
Slippage, 4 orders: −$54.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$10.22
Costs to cover: 0.763%
Break-even: 7.9 days

Slippage from Kraken Futures: live order book, 18 min ago; BloFin: live order book, 17 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, 18 min ago	11.62 bp	19.9 bp −$20	108.2 bp −$1,082	doesn't fit	doesn't fit
Sell BloFin live order book, 17 min ago	8.33 bp	14.3 bp −$14	16.2 bp −$162	54.7 bp −$5,473	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	−0.4347%	1h	0.2904	−1.891%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2961	+0.020%	$282K	$149K	10x	as long as short
Bybit JUPUSDT	−0.0230%	4h	0.2962	+0.082%	$15.9M	$20.7M	50x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2959	−0.036%	$16K	—	100x	as long as short
OKX JUP-USDT-SWAP	−0.0083%	4h	0.2963	+0.103%	$4.1M	$15.0M	50x	as long as short
01 Exchange JUPUSD	−0.0024%	1h	0.2966	+0.204%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSDlong	−0.0024%	1h	0.2960	long leg	$595K	$524K	20x
dYdX JUP-USD	0.0000%	1h	0.2963	+0.088%	$39K	$31K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2959	−0.019%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2959	−0.017%	—	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0050%	4h	0.2961	+0.035%	$744K	$1.5M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2957	−0.115%	—	—	20x	as long as short
Variational Omni JUP	+0.0060%	4h	0.2949	−0.386%	$715K	$768K	—	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2960	+0.012%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2964	+0.133%	$784K	$1.3M	10x	as long as short
Backpack JUP_USDC_PERP	+0.0097%	1h	0.2961	+0.028%	$980K	$235K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2960	+0.001%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2959	−0.049%	$608K	$611K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2964	+0.153%	$18.9M	$11.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2961	+0.037%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2966	+0.187%	$16.4M	$47.5M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2971	+0.373%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2963	+0.103%	$7.5M	$6.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2962	+0.069%	$4.1M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2963	+0.103%	$5.8M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2963	+0.103%	—	$20.9M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	−0.309%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2952	−0.269%	$157K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2965	+0.157%	$93K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.269%	$111K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2962	+0.070%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2956	−0.120%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2941	−0.627%	$96K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2955	−0.161%	$74K	$58K	50x	as long as short
BloFin JUP-USDTshort	+0.0340%	4h	0.2954	−0.201%	$851K	$379K	50x
Phemex JUPUSDT	+0.0544%	4h	0.2963	+0.103%	$2.9M	$3.6M	50x	as long as short