JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0118%/8h= +12.9% APRnext payment +$0.15 per $10,000 · paid last 24h +0.004%

Price spread now: Phoenix against Lighter+1.088%104s7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.324% of the position

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 3 days (all we have)−0.785%−$78 · spread now +1.088%, 7d avg +0.032%

Together, before fees−0.777%+ Points / potential airdropLighter: Season 3 · farm board−$78 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 1.056% dearer against Lighter than usual: you sell high and buy low: +$106 more if the spread goes back to its 7-day average of +0.032%. The two prices were read 104 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2949	0.0096	pay 0.0012% / 1h	55m 32s	$780K	$1.3M	10x
Short	Phoenix JUP	0.2982	0.0214	get 0.0027% / 1h	55m 32s	$97K	$402K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +1.088%Rate

Funding earned: $24.83
Price spread: +1.088% → +0.032%: $105.64
Slippage, 4 orders: −$25.39
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $98.08
Costs to cover: 0.324%
Break-even: from the start

Slippage from Lighter: live order book, 6 min ago; Phoenix: live order book, 12 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	0.17 bp	3.7 bp −$4	41.6 bp −$416	doesn't fit	doesn't fit
Sell Phoenix live order book, 12 min ago	2.49 bp	14.3 bp −$14	29.3 bp −$293	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	−0.4347%	1h	0.2943	−0.217%	$3K	$206K	5.5x	as long as short
Backpack JUP_USDC_PERP	−0.0566%	1h	0.2943	−0.210%	$975K	$234K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0429%	1h	0.2945	−0.156%	$54K	$16K	10x	as long as short
Pacifica JUP	−0.0353%	1h	0.2946	−0.115%	$281K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2946	−0.127%	$16K	—	100x	as long as short
01 Exchange JUPUSD	−0.0184%	1h	0.2944	−0.170%	$26K	$19K	5x	as long as short
OKX JUP-USDT-SWAP	−0.0084%	4h	0.2942	−0.251%	$4.0M	$15.0M	50x	as long as short
Bybit JUPUSDT	−0.0058%	4h	0.2940	−0.319%	$15.9M	$20.7M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2947	−0.091%	$592K	$523K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2949	+0.001%	$39K	$31K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2946	−0.106%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2943	−0.216%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0081%	8h	0.2947	−0.078%	$9K	$11K	10x	as long as short
Lighter JUPlong	+0.0096%	1h	0.2949	long leg	$780K	$1.3M	10x
Gate JUP_USDT	+0.0098%	4h	0.2946	−0.115%	$729K	$1.5M	75x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2946	−0.115%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2943	−0.234%	$605K	$633K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2949	−0.003%	$18.9M	$11.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2946	−0.115%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2944	−0.183%	$16.2M	$47.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2971	+0.732%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2947	−0.081%	$7.5M	$6.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2948	−0.047%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2947	−0.081%	$5.7M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2943	−0.217%	—	$20.9M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2938	−0.385%	$713K	$768K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2960	+0.346%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2964	+0.495%	$158K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2951	+0.044%	$93K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2941	−0.285%	$111K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2943	−0.232%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2940	−0.302%	$40K	—	3x	as long as short
Phoenix JUPshort	+0.0214%	1h	0.2982	+1.088%	$97K	$402K	10x
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2962	+0.420%	$74K	$59K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2960	+0.359%	$849K	$365K	50x	as long as short
Phemex JUPUSDT	+0.0652%	4h	0.2949	−0.014%	$2.9M	$3.6M	50x	as long as short