Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h −0.068%

Price spread now: MEXC against Kraken Futures−0.127%51s7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as 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−$540.539% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.709%−$71 on $10k

Price spread, last 3 days (all we have)−0.130%−$13 · spread now −0.127%, 7d avg −0.105%

Together, before fees−0.839%−$84 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.022% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.127% now, against its 7-day average of −0.105%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.709%, so the current rate has only just turned in your favour. The two prices were read 51 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	0.2955	−0.0176	get 0.0022% / 1h	10m 24s	$598K	$616K	20x
Short	MEXC JUP_USDT	0.2951	0.0100	get 0.0050% / 4h	1h 10m	$8.1M	$8.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.127%Rate

Funding earned: $57.96
Price spread: −0.127% → −0.105%: −$2.23
Slippage, 4 orders: −$43.88
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $1.85
Costs to cover: 0.539%
Break-even: 6.8 days

Slippage from Kraken Futures: live order book, 8 min ago; MEXC: live order book, 2 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, 8 min ago	11.84 bp	25.6 bp −$26	100.5 bp −$1,005	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.69 bp	4.7 bp −$5	12.0 bp −$120	79.9 bp −$7,993	235.4 bp −$117.7K

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	−0.3508%	1h	0.2911	−1.481%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2953	−0.074%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2953	−0.049%	$281K	$171K	10x	as long as short
Kraken Futures PF_JUPUSDlong	−0.0176%	1h	0.2955	long leg	$598K	$616K	20x
01 Exchange JUPUSD	−0.0008%	1h	0.2952	−0.104%	$26K	$19K	5x	as long as short
Gate JUP_USDT	−0.0002%	4h	0.2952	−0.093%	$745K	$1.9M	75x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2956	+0.039%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2954	−0.028%	$17K	—	150x	as long as short
Bybit JUPUSDT	+0.0052%	4h	0.2949	−0.178%	$16.1M	$23.2M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2949	−0.191%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0075%	8h	0.2951	−0.123%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2956	+0.035%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2950	−0.144%	$610K	$669K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2957	+0.062%	$19.0M	$13.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2955	+0.024%	$106K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2951	−0.118%	$16.3M	$54.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2950	−0.161%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2953	−0.060%	$57K	$2K	10x	as long as short
MEXC JUP_USDTshort	+0.0100%	4h	0.2951	−0.127%	$8.1M	$8.1M	200x
KuCoin JUPUSDTM	+0.0100%	4h	0.2955	+0.008%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2952	−0.093%	$5.6M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2952	−0.093%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2955	+0.015%	$978K	$254K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2952	−0.106%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2955	+0.006%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	+0.042%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2956	+0.039%	$93K	$131K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2956	+0.042%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2947	−0.263%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2961	+0.211%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.042%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0124%	1h	0.2957	+0.064%	$39K	$35K	5x	as long as short
BloFin JUP-USDT	+0.0159%	4h	0.2952	−0.093%	$844K	$326K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.171%	$95K	$441K	10x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2950	−0.156%	$2.2M	$505K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2958	+0.096%	$74K	$94K	50x	as long as short