Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h +0.086%

Price spread now: Kraken Futures against OKX+0.111%7-day average +0.149% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$850.845% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.726%+$73 on $10k

Price spread, last 3 days (all we have)+0.171%+$17 · spread now +0.111%, 7d avg +0.149%

Together, before fees+0.897%+$90 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.038% cheaper against OKX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.149%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.726%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX JUP-USDT-SWAP	0.2947	0.0100	pay 0.0050% / 4h	1h 38m	$4.0M	$16.6M	50x
Short	Kraken Futures PF_JUPUSD	0.2950	−0.0176	pay 0.0022% / 1h	38m 15s	$598K	$619K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$58.01
Price spread: +0.111% → +0.149%: −$3.8
Slippage, 4 orders: −$64.5
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$146.31
Costs to cover: 0.845%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Kraken Futures: live order book, 45 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 OKX live order book, 5 min ago	1.69 bp	15.5 bp −$16	63.9 bp −$639	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 45 min ago	20.13 bp	27.1 bp −$27	230.5 bp −$2,305	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	−0.3508%	1h	0.2918	−0.984%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0540% / S +0.0374%	1h	0.2952	+0.166%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2950	+0.109%	$281K	$172K	10x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0176%	1h	0.2950	+0.111%	$598K	$619K	20x
01 Exchange JUPUSD	−0.0088%	1h	0.2951	+0.132%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0055%	1h	0.2951	+0.136%	$56K	$14K	10x	as long as short
Gate JUP_USDT	−0.0010%	4h	0.2948	+0.034%	$734K	$1.9M	75x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2951	+0.151%	$17K	—	150x	as long as short
Bybit JUPUSDT	+0.0049%	4h	0.2947	−0.007%	$16.1M	$23.8M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2948	+0.048%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0066%	8h	0.2950	+0.093%	$9K	$15K	10x	as long as short
dYdX JUP-USD	+0.0068%	1h	0.2953	+0.192%	$39K	$35K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2951	+0.149%	$791K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2950	+0.110%	$612K	$673K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	+0.265%	$18.9M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2953	+0.197%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2948	+0.047%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAPlong	+0.0100%	4h	0.2947	long leg	$4.0M	$16.6M	50x
MEXC JUP_USDT	+0.0100%	4h	0.2950	+0.102%	$7.9M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	+0.204%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	+0.102%	$5.7M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2949	+0.068%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2950	+0.095%	$976K	$260K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2955	+0.277%	$714K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2957	+0.338%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2959	+0.407%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2955	+0.258%	$93K	$136K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2951	+0.136%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2943	−0.136%	$110K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2956	+0.305%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+0.339%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2948	+0.050%	$2.2M	$541K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2947	−0.002%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0160%	4h	0.2954	+0.238%	$848K	$328K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.438%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.442%	$74K	$94K	50x	as long as short