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: Variational Omni against Kraken Futures+0.032%7-day average −0.111% · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.478%−$48 on $10k

Price spread, last 3 days (all we have)−0.328%−$33 · spread now +0.032%, 7d avg −0.111%

Together, before fees−0.806%+ Points / potential airdropVariational Omni: Active · farm board−$81 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Variational Omni is 0.143% dearer against Kraken Futures than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.111%. Mind the row above: over the last 3 days funding on this pair cost −0.478%, 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	0.2950	−0.0176	get 0.0022% / 1h	50m 12s	$598K	$623K	20x
Short	Variational Omni JUP	0.2951	0.0100	get 0.0050% / 4h	1h 50m	$721K	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.032%Rate

Funding earned: $58.01
Price spread: +0.032% → −0.111%: $14.26
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $62.27
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 33 min ago; Variational Omni: RFQ quote, 4 min ago. 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, 33 min ago	20.13 bp	28.1 bp −$28	223.8 bp −$2,238	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	6.75 bp	doesn't fit	40.5 bp −$405	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	−0.3508%	1h	0.2922	−0.960%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0994% / S +0.0365%	1h	0.2950	−0.026%	$13K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2951	+0.039%	$281K	$177K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0326%	1h	0.2947	−0.106%	$56K	$14K	10x	as long as short
Kraken Futures PF_JUPUSDlong	−0.0176%	1h	0.2950	long leg	$598K	$623K	20x
01 Exchange JUPUSD	−0.0096%	1h	0.2950	−0.014%	$26K	$19K	5x	as long as short
Bybit JUPUSDT	−0.0040%	4h	0.2946	−0.146%	$16.1M	$23.9M	50x	as long as short
Gate JUP_USDT	−0.0030%	4h	0.2945	−0.180%	$732K	$1.9M	75x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2950	−0.027%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	−0.111%	—	—	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	+0.0065%	8h	0.2951	+0.013%	$9K	$15K	10x	as long as short
dYdX JUP-USD	+0.0079%	1h	0.2953	+0.081%	$39K	$35K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2950	+0.003%	$803K	$1.3M	10x	as long as short
Variational Omni JUPshort	+0.0100%	4h	0.2951	+0.032%	$721K	$1.1M	—
Nado JUP-PERP	+0.0100%	1h	0.2948	−0.062%	$610K	$672K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2952	+0.067%	$18.9M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2951	+0.019%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2947	−0.112%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2947	−0.112%	$4.0M	$16.6M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2952	+0.057%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2947	−0.112%	$7.8M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2949	−0.045%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2946	−0.146%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2947	−0.112%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2948	−0.072%	$976K	$263K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2967	+0.550%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2955	+0.159%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2953	+0.084%	$93K	$138K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2948	−0.079%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.146%	$110K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2953	+0.091%	$2.9M	$4.1M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2945	−0.188%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2946	−0.142%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0149%	4h	0.2955	+0.159%	$851K	$331K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2958	+0.250%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.328%	$74K	$94K	50x	as long as short