Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Phemex against KuCoin−0.067%7-day average +0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1041.041% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.123%+$12 on $10k

Price spread, last 3 days (all we have)+0.235%+$24 · spread now −0.067%, 7d avg +0.129%

Together, before fees+0.359%+$36 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.196% cheaper against KuCoin than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.129%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin JUPUSDTM	0.2984	0.0100	pay 0.0050% / 4h	0m 35s	$4.3M	$6.9M	50x
Short	Phemex JUPUSDT	0.2982	0.0100	get 0.0050% / 4h	0m 35s	$2.9M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → +0.129%: −$19.62
Slippage, 4 orders: −$80.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$123.75
Costs to cover: 1.041%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Phemex: live order book, 3 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, 7 min ago	5.04 bp	28.8 bp −$29	101.4 bp −$1,014	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.68 bp	19.9 bp −$20	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	−0.4371%	1h	0.2938	−1.542%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2980	−0.117%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2982	−0.079%	$601K	$589K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2982	−0.068%	$284K	$165K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0052%	1h	0.2981	−0.101%	$56K	$14K	10x	as long as short
01 Exchange JUPUSD	−0.0048%	1h	0.2983	−0.044%	$26K	$19K	5x	as long as short
Bybit JUPUSDT	−0.0026%	4h	0.2980	−0.134%	$16.2M	$22.0M	50x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2980	−0.118%	$17K	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0045%	4h	0.2979	−0.168%	$4.1M	$16.2M	50x	as long as short
Variational Omni JUP	+0.0052%	4h	0.2976	−0.265%	$719K	$776K	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2977	−0.223%	—	—	20x	as long as short
dYdX JUP-USD	+0.0068%	1h	0.2980	−0.148%	$39K	$32K	5x	as long as short
Gate JUP_USDT	+0.0076%	4h	0.2981	−0.101%	$745K	$1.8M	75x	as long as short
Paradex JUP-USD-PERP	+0.0081%	8h	0.2982	−0.079%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2984	+0.013%	$798K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2981	−0.101%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2978	−0.209%	$617K	$648K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2986	+0.067%	$19.2M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2983	−0.032%	$116K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2981	−0.109%	$16.4M	$51.9M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2972	−0.402%	$62K	$9K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2981	−0.101%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTMlong	+0.0100%	4h	0.2984	long leg	$4.3M	$6.9M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2982	−0.067%	$5.8M	$7.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2980	−0.134%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2983	−0.040%	$987K	$233K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2973	−0.369%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2975	−0.302%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2985	+0.044%	$94K	$119K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2973	−0.369%	$112K	$62K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2982	−0.067%	$2.9M	$3.9M	50x
Extended JUP-USD	+0.0104%	1h	0.2980	−0.137%	$2.2M	$502K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2979	−0.179%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0135%	4h	0.2977	−0.235%	$843K	$304K	50x	as long as short
Phoenix JUP	+0.0162%	1h	0.2977	−0.221%	$97K	$479K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2979	−0.161%	$75K	$91K	50x	as long as short