Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.004%

Price spread now: BingX against Lighter−0.144%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.144%, 7d avg −0.105%

Together, before fees+0.037%+ Points / potential airdropLighter: Season 3 · farm board+$4 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: BingX is 0.038% cheaper against Lighter than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2988	0.0096	pay 0.0012% / 1h	34m 46s	$800K	$1.4M	10x
Short	BingX JUP-USDT	0.2984	0.0100	get 0.0050% / 4h	34m 46s	—	$20.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.144%Rate

Funding earned: $0.84
Price spread: −0.144% → −0.105%: −$3.84
Slippage, 4 orders: −$23.77
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$36.77
Costs to cover: 0.338%
Break-even: 313.4 days

Slippage from Lighter: live order book, 1 min ago; BingX: live order book, 4 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 Lighter live order book, 1 min ago	3.01 bp	11.8 bp −$12	50.2 bp −$502	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	1.68 bp	6.7 bp −$7	9.2 bp −$92	19.5 bp −$1,948	70.0 bp −$35.0K

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	0.2950	−1.282%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2986	−0.062%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2988	−0.015%	$602K	$609K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2985	−0.100%	$284K	$168K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0051%	1h	0.2987	−0.054%	$56K	$14K	10x	as long as short
Bybit JUPUSDT	0.0000%	4h	0.2982	−0.211%	$16.3M	$22.9M	50x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2988	−0.025%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0052%	4h	0.2983	−0.177%	$747K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2983	−0.173%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0064%	1h	0.2986	−0.074%	$26K	$19K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0072%	4h	0.2984	−0.144%	$850K	$329K	50x	as long as short
dYdX JUP-USD	+0.0079%	1h	0.2987	−0.056%	$39K	$34K	5x	as long as short
Paradex JUP-USD-PERP	+0.0085%	8h	0.2985	−0.111%	$9K	$13K	10x	as long as short
Lighter JUPlong	+0.0096%	1h	0.2988	long leg	$800K	$1.4M	10x
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2987	−0.044%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2984	−0.161%	$615K	$662K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2987	−0.030%	$116K	$363K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2986	−0.077%	$16.4M	$53.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2982	−0.211%	$4.1M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2985	−0.110%	$58K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2986	−0.077%	$8.2M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2987	−0.044%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2987	−0.044%	$5.8M	$8.1M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2984	−0.144%	—	$20.9M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2986	−0.070%	$988K	$244K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2984	−0.155%	$722K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2989	+0.023%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2989	+0.023%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2989	+0.023%	$94K	$129K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2978	−0.345%	$112K	$66K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2992	+0.124%	$2.9M	$3.9M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2983	−0.177%	$41K	—	3x	as long as short
Phoenix JUP	+0.0162%	1h	0.2990	+0.047%	$97K	$479K	10x	as long as short
Hyperliquid JUP	+0.0177%	1h	0.2991	+0.080%	$19.2M	$13.1M	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3000	+0.405%	$75K	$95K	50x	as long as short
Extended JUP-USD	+0.0272%	1h	0.2983	−0.161%	$2.2M	$507K	25x	as long as short