Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.027%

Price spread now: Kraken Futures against KuCoin−0.036%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1251.253% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.720%+$72 on $10k

Price spread, last 4 days (all we have)+0.223%+$22 · spread now −0.036%, 7d avg +0.064%

Together, before fees+0.943%+$94 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.100% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.064%). If the spread goes back, that is −$10 on $10k: about 2.1 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.720% in total) that is about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin JUPUSDTM	0.2932	0.0100	pay 0.0050% / 4h	2h 14m	$4.0M	$6.6M	50x
Short	Kraken Futures PF_JUPUSD	0.2931	0.0258	get 0.0032% / 1h	14m 39s	$578K	$464K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.036%Rate

Funding earned: $33.11
Price spread: −0.036% → +0.064%: −$10
Slippage, 4 orders: −$103.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$102.22
Costs to cover: 1.253%
Break-even: 28.6 days

Slippage from KuCoin: live order book, 3 min ago; Kraken Futures: live order book, 33 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 KuCoin live order book, 3 min ago	5.12 bp	31.1 bp −$31	207.3 bp −$2,073	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 33 min ago	20.33 bp	27.7 bp −$28	108.2 bp −$1,082	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	−0.4499%	1h	0.2882	−1.705%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2928	−0.120%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2933	+0.035%	$279K	$141K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2929	−0.111%	—	—	150x	as long as short
dYdX JUP-USD	+0.0009%	1h	0.2932	+0.015%	$39K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0023%	1h	0.2930	−0.061%	$53K	$17K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2929	−0.118%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2936	+0.130%	$762K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2934	+0.054%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2928	−0.145%	$580K	$494K	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	0.2934	+0.058%	$18.1M	$9.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2932	+0.009%	$107K	$281K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2934	+0.059%	$16.1M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2931	−0.038%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2935	+0.102%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2899	−1.126%	$60K	$280	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2929	−0.102%	$720K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2933	+0.034%	$6.8M	$6.1M	200x	as long as short
KuCoin JUPUSDTMlong	+0.0100%	4h	0.2932	long leg	$4.0M	$6.6M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2934	+0.068%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2932	0.000%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2931	−0.020%	$968K	$192K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2924	−0.272%	$709K	$626K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2929	−0.102%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2926	−0.205%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2931	−0.020%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2930	−0.068%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2921	−0.375%	$110K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2930	−0.067%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0136%	1h	0.2930	−0.072%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0152%	1h	0.2930	−0.069%	$2.2M	$556K	25x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0258%	1h	0.2931	−0.036%	$578K	$464K	20x
Phoenix JUP	+0.0271%	1h	0.2926	−0.205%	$98K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2933	+0.048%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2928	−0.136%	$817K	$377K	50x	as long as short
Phemex JUPUSDT	+0.0605%	4h	0.2934	+0.068%	$2.9M	$3.1M	50x	as long as short