Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0718%/8h= −78.7% APRpaid last 24h −0.091%

Price spread now: GMX against OKX+0.023%7-day average — · you sell dearer than you buy

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. GMX is 0.023% dearer against OKX than usual: you sell high and buy low (spread +0.023% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX JUP-USDT-SWAP	0.2915	0.0100	pay 0.0050% / 4h	53m 11s	$4.0M	$10.2M	50x
Short	GMX JUP/USD [WBTC.b-USDC]	0.2916	L −0.0275% / S +0.0618%	pay 0.0077% / 1h	53m 11s	$16K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$150.85
Price spread: +0.023% → 0.000%: $2.3
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$170.55
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; GMX: 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 OKX live order book, 5 min ago	1.72 bp	13.8 bp −$14	56.4 bp −$564	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.3836%	1h	0.2889	−0.892%	$3K	$207K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0275% / S +0.0618%	1h	0.2916	+0.023%	$16K	—	100x
Pacifica JUP	−0.0058%	1h	0.2918	+0.111%	$278K	$138K	10x	as long as short
ApeX Omni JUPUSDT	−0.0014%	1h	0.2913	−0.069%	$161K	$254K	50x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2918	+0.117%	$39K	$16K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2916	+0.027%	$52K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2917	+0.062%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0049%	1h	0.2920	+0.182%	$966K	$225K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2915	+0.008%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0088%	1h	0.2919	+0.127%	$26K	$6K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter JUP	+0.0096%	1h	0.2919	+0.123%	$757K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2919	+0.141%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2918	+0.120%	$570K	$491K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2919	+0.141%	$18.0M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2919	+0.129%	$104K	$293K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2915	+0.010%	$16.0M	$39.0M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2915	+0.003%	$15.8M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAPlong	+0.0100%	4h	0.2915	long leg	$4.0M	$10.2M	50x
Bulk JUP-USD	+0.0100%	1h	0.2926	+0.377%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2916	+0.034%	$699K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2916	+0.034%	$6.7M	$5.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2918	+0.103%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2918	+0.103%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2917	+0.069%	—	$20.5M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2910	−0.173%	$705K	$531K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2919	+0.150%	$1.6M	$4.0M	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2922	+0.230%	$92K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2916	+0.034%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2911	−0.137%	$109K	$43K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2914	−0.034%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0224%	1h	0.2914	−0.035%	$2.2M	$575K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2923	+0.278%	$74K	$48K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2916	+0.034%	$820K	$370K	50x	as long as short
Phoenix JUP	+0.0355%	1h	0.2922	+0.247%	$104K	$284K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0415%	1h	0.2917	+0.072%	$575K	$418K	20x	as long as short
Phemex JUPUSDT	+0.0484%	4h	0.2918	+0.103%	$2.9M	$3.0M	50x	as long as short