Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0198%/8h= −21.7% APRnext payment −$0.25 per $10,000 · paid last 24h —

Price spread now: Reya against Kraken Futures−0.054%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Reya is 0.054% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2960	0.0255	pay 0.0032% / 1h	57m 17s	$588K	$470K	20x
Short	Reya JUPRUSDPERP	0.2959	0.0057	get 0.0007% / 1h	57m 17s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.054%Rate

Funding earned: −$41.66
Price spread: −0.054% → 0.000%: −$5.37
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$63.03
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 56 min ago; Reya: no order-book sample. Net counts fees only.

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, 56 min ago	16.83 bp	26.4 bp −$26	133.8 bp −$1,338	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.4499%	1h	0.2910	−1.701%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2960	−0.001%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2956	−0.153%	$282K	$146K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2953	−0.233%	$39K	$21K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2961	+0.015%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2960	−0.019%	—	—	150x	as long as short
Reya JUPRUSDPERPshort	+0.0057%	1h	0.2959	−0.054%	—	—	20x
Lighter JUP	+0.0096%	1h	0.2962	+0.062%	$781K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2957	−0.107%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2958	−0.071%	$597K	$487K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2961	+0.015%	$18.6M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2959	−0.049%	$110K	$270K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2960	−0.012%	$16.2M	$39.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2957	−0.113%	$15.9M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2961	+0.022%	$4.1M	$11.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2947	−0.451%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2957	−0.113%	$734K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2960	−0.012%	$7.3M	$6.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2959	−0.046%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2960	−0.012%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2958	−0.080%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2948	−0.411%	$973K	$187K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2939	−0.722%	$719K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2944	−0.539%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2945	−0.519%	$162K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2963	+0.096%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2960	−0.012%	$31K	$26K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2949	−0.384%	$111K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2961	+0.022%	$2.9M	$3.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2958	−0.096%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0176%	1h	0.2959	−0.056%	$2.2M	$508K	25x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2961	+0.015%	$26K	$16K	5x	as long as short
Phoenix JUP	+0.0216%	1h	0.2954	−0.208%	$97K	$280K	10x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0255%	1h	0.2960	long leg	$588K	$470K	20x
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2968	+0.251%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2961	+0.022%	$839K	$379K	50x	as long as short