JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0091%/8h= +10.0% APRnext payment +$0.11 per $10,000 · paid last 24h −0.021%

Price spread now: Hyperliquid against Kraken Futures+0.046%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.643%−$64 on $10k

Price spread, last 3 days (all we have)−0.201%−$20 · spread now +0.046%, 7d avg +0.002%

Together, before fees−0.844%+ Points / potential airdropHyperliquid: Season 2 · farm board−$84 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.044% 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 +0.002%. Mind the row above: over the last 7 days funding on this pair cost −0.643%, 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	0.2970	0.0009	pay 0.0001% / 1h	41m 05s	$603K	$623K	20x
Short	Hyperliquid JUP	0.2972	0.0100	get 0.0013% / 1h	41m 05s	$19.1M	$14.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.046%Rate

Funding earned: $19.2
Price spread: +0.046% → +0.002%: $4.35
Slippage, 4 orders: −$42.44
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$37.9
Costs to cover: 0.614%
Break-even: 20.8 days

Slippage from Kraken Futures: live order book, 47 min ago; Hyperliquid: live order book, 12 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, 47 min ago	6.68 bp	18.4 bp −$18	103.1 bp −$1,031	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	1.18 bp	8.6 bp −$9	doesn't fit	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	0.2929	−1.388%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0748% / S +0.0258%	1h	0.2969	−0.030%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0365%	4h	0.2965	−0.176%	$16.3M	$24.1M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0053%	1h	0.2970	−0.005%	$56K	$14K	10x	as long as short
Gate JUP_USDT	−0.0018%	4h	0.2965	−0.176%	$740K	$1.9M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2971	+0.039%	$94K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2969	−0.040%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0009%	1h	0.2970	long leg	$603K	$623K	20x
dYdX JUP-USD	+0.0015%	1h	0.2970	−0.011%	$39K	$36K	5x	as long as short
Backpack JUP_USDC_PERP	+0.0044%	1h	0.2969	−0.042%	$984K	$268K	10x	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	+0.0056%	1h	0.2969	−0.052%	$26K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2966	−0.143%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2967	−0.105%	$9K	$15K	10x	as long as short
BloFin JUP-USDT	+0.0094%	4h	0.2966	−0.143%	$868K	$329K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2972	+0.046%	$896K	$1.3M	10x	as long as short
Variational Omni JUP	+0.0098%	4h	0.2958	−0.412%	$724K	$1.2M	—	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2970	−0.008%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2966	−0.143%	$598K	$668K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2972	+0.046%	$19.1M	$14.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2968	−0.063%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2968	−0.089%	$283K	$185K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2968	−0.090%	$16.5M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2967	−0.109%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2968	−0.075%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2969	−0.042%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2967	−0.109%	$5.7M	$8.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2966	−0.143%	—	$21.6M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	−0.311%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2961	−0.311%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2971	+0.036%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2960	−0.345%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2972	+0.059%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	−0.160%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2966	−0.148%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.588%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2966	−0.141%	$2.2M	$539K	25x	as long as short