Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0247%/8h= +27.1% APRpaid last 24h −0.092%

Price spread now: Gate against Kraken Futures−0.096%7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$990.987% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.737%−$74 on $10k

Price spread, last 3 days (all we have)−0.224%−$22 · spread now −0.096%, 7d avg −0.138%

Together, before fees−0.961%−$96 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Gate is 0.042% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.138%. Mind the row above: over the last 7 days funding on this pair cost −0.737%, 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	0.2973	−0.0209	get 0.0026% / 1h	58m 17s	$603K	$618K	20x
Short	Gate JUP_USDT	0.2970	0.0038	get 0.0019% / 4h	58m 17s	$749K	$1.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now −0.096%Rate

Funding earned: $51.89
Price spread: −0.096% → −0.138%: $4.22
Slippage, 4 orders: −$73.7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$42.59
Costs to cover: 0.987%
Break-even: 12.7 days

Slippage from Kraken Futures: live order book, 20 min ago; Gate: live order book, 4 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, 20 min ago	11.84 bp	25.6 bp −$26	100.5 bp −$1,005	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.38 bp	25.8 bp −$26	91.7 bp −$917	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	−0.4371%	1h	0.2935	−1.273%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2973	+0.020%	$15K	—	100x	as long as short
Kraken Futures PF_JUPUSDlong	−0.0209%	1h	0.2973	long leg	$603K	$618K	20x
Pacifica JUP	−0.0199%	1h	0.2971	−0.051%	$283K	$169K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2974	+0.042%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2973	+0.005%	$17K	—	150x	as long as short
Gate JUP_USDTshort	+0.0038%	4h	0.2970	−0.096%	$749K	$1.8M	75x
Reya JUPRUSDPERP	+0.0057%	1h	0.2970	−0.102%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0067%	4h	0.2970	−0.096%	$16.3M	$23.1M	50x	as long as short
Paradex JUP-USD-PERP	+0.0079%	8h	0.2971	−0.063%	$9K	$13K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0080%	4h	0.2971	−0.062%	$846K	$328K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2974	+0.039%	$797K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2969	−0.112%	$613K	$669K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2972	−0.023%	$107K	$356K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2972	−0.028%	$16.4M	$54.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2970	−0.096%	$4.0M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2972	−0.028%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2973	+0.005%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2971	−0.062%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2970	−0.096%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2972	−0.045%	$983K	$252K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2961	−0.395%	$715K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2966	−0.230%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2960	−0.432%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2977	+0.150%	$94K	$130K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2973	+0.005%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2962	−0.365%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2972	−0.028%	$2.9M	$4.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2966	−0.230%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2972	−0.041%	$41K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2974	+0.039%	$26K	$19K	5x	as long as short
Hyperliquid JUP	+0.0166%	1h	0.2978	+0.160%	$19.1M	$13.3M	10x	as long as short
Phoenix JUP	+0.0190%	1h	0.2969	−0.129%	$96K	$440K	10x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2969	−0.116%	$2.2M	$505K	25x	as long as short
dYdX JUP-USD	+0.0219%	1h	0.2973	−0.010%	$39K	$35K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2972	−0.022%	$74K	$94K	50x	as long as short