Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0039%/8h= −4.3% APRnext payment −$0.05 per $10,000 · paid last 24h —

Price spread now: Reya against Lighter−0.081%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Reya is 0.081% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2941	0.0096	pay 0.0012% / 1h	52m 10s	$778K	$1.0M	10x
Short	Reya JUPRUSDPERP	0.2939	0.0057	get 0.0007% / 1h	52m 10s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.081%Rate

Funding earned: −$8.25
Price spread: −0.081% → 0.000%: −$8.08
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$22.34
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 3 min ago; Reya: no order-book sample. Net counts fees only.

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, 3 min ago	3.54 bp	8.5 bp −$8	45.4 bp −$454	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.4661%	1h	0.2910	−1.068%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2940	−0.036%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2941	−0.007%	$280K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0124%	1h	0.2940	−0.058%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2941	−0.006%	—	—	150x	as long as short
dYdX JUP-USD	+0.0002%	1h	0.2942	+0.037%	$38K	$26K	5x	as long as short
Reya JUPRUSDPERPshort	+0.0057%	1h	0.2939	−0.081%	—	—	20x
Lighter JUPlong	+0.0096%	1h	0.2941	long leg	$778K	$1.0M	10x
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2940	−0.049%	$588K	$489K	20x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2939	−0.087%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2938	−0.099%	$593K	$502K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2942	+0.017%	$18.7M	$9.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2942	+0.025%	$114K	$288K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2939	−0.095%	$16.2M	$42.4M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2935	−0.204%	$15.7M	$18.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2939	−0.082%	$4.0M	$12.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+0.530%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2939	−0.082%	$730K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2939	−0.082%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2940	−0.048%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2940	−0.048%	$5.7M	$5.8M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2940	−0.048%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2939	−0.065%	$975K	$245K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2960	+0.633%	$722K	$693K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2955	+0.478%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2945	+0.122%	$156K	$265K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2942	+0.007%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2940	−0.048%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2934	−0.252%	$110K	$49K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2944	+0.088%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2938	−0.101%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2939	−0.095%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2944	+0.092%	$74K	$49K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2965	+0.799%	$99K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2945	+0.122%	$844K	$382K	50x	as long as short
Extended JUP-USD	+0.0400%	1h	0.2938	−0.126%	$2.2M	$502K	25x	as long as short