Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.025%

Price spread now: GRVT against Lighter+0.162%7-day average −0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$600.605% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−0.336%−$34 · spread now +0.162%, 7d avg −0.068%

Together, before fees−0.354%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$35 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: GRVT is 0.230% dearer against Lighter than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2974	0.0096	pay 0.0012% / 1h	15m 19s	$861K	$1.3M	10x
Short	GRVT JUP_USDT_Perp	0.2979	0.0100	get 0.0050% / 4h	2h 15m	$1.6M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.162%Rate

Funding earned: $0.84
Price spread: +0.162% → −0.068%: $23.04
Slippage, 4 orders: −$51.48
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$36.6
Costs to cover: 0.605%
Break-even: 312.0 days

Slippage from Lighter: live order book, 6 min ago; GRVT: 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, 6 min ago	2.52 bp	9.2 bp −$9	49.4 bp −$494	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.68 bp	20.7 bp −$21	104.7 bp −$1,047	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	−0.5000%	1h	0.2978	+0.145%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0876% / S +0.0328%	1h	0.2973	−0.039%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0119%	4h	0.2968	−0.192%	$16.2M	$24.0M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0019%	1h	0.2973	−0.040%	$56K	$14K	10x	as long as short
Phoenix JUP	0.0000%	1h	0.2979	+0.182%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2973	−0.036%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0002%	4h	0.2968	−0.192%	$739K	$2.0M	75x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2972	−0.050%	$603K	$624K	20x	as long as short
dYdX JUP-USD	+0.0027%	1h	0.2975	+0.039%	$39K	$36K	5x	as long as short
01 Exchange JUPUSD	+0.0048%	1h	0.2971	−0.101%	$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
Reya JUPRUSDPERP	+0.0057%	1h	0.2970	−0.121%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2971	−0.097%	$9K	$15K	10x	as long as short
Lighter JUPlong	+0.0096%	1h	0.2974	long leg	$861K	$1.3M	10x
BloFin JUP-USDT	+0.0100%	4h	0.2975	+0.044%	$859K	$334K	50x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2972	−0.057%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2970	−0.116%	$598K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2976	+0.080%	$19.1M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2975	+0.029%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2972	−0.067%	$283K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2971	−0.091%	$16.4M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2970	−0.124%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2971	−0.091%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2975	+0.044%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2971	−0.091%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2969	−0.158%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2974	−0.007%	$984K	$266K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2971	−0.078%	$727K	$1.2M	—	as long as short
GRVT JUP_USDT_Perpshort	+0.0100%	4h	0.2979	+0.162%	$1.6M	$4.2M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2978	+0.145%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2979	+0.172%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2965	−0.293%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2977	+0.111%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2982	+0.279%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2970	−0.131%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.531%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2970	−0.129%	$2.2M	$539K	25x	as long as short