Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.039%

Price spread now: Coinbase International against Orderly−0.119%54s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Coinbase International is 0.119% cheaper against Orderly than usual: you would sell low and buy high (spread −0.119% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 3.7 days of funding at the current rate (+$3 a day). The two prices were read 54 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	Orderly PERP_JUP_USDC	0.2945	0.0100	pay 0.0050% / 4h	31m 23s	$31K	$42K	10x
Short	Coinbase International JUP-PERP-INTX	0.2942	0.0208	get 0.0026% / 1h	31m 23s	$74K	$50K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now −0.119%Rate

Funding earned: $22.68
Price spread: −0.119% → 0.000%: −$11.88
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$5.2
Costs to cover: 0.160%
Break-even: 8.6 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International no order-book sample	—	—	—	—	—

Orderly and Coinbase International: 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	0.2901	−1.494%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2945	−0.006%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2961	+0.531%	$282K	$147K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2945	−0.008%	—	—	150x	as long as short
dYdX JUP-USD	+0.0016%	1h	0.2960	+0.525%	$39K	$25K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2944	−0.050%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2961	+0.534%	$592K	$482K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2963	+0.604%	$783K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2962	+0.563%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2943	−0.051%	$592K	$497K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2946	+0.044%	$18.6M	$9.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2960	+0.511%	$110K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2946	+0.046%	$16.2M	$41.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2943	−0.085%	$15.8M	$18.5M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2944	−0.034%	$4.0M	$11.8M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.306%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2944	−0.034%	$729K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2942	−0.102%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2944	−0.034%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2942	−0.102%	$5.7M	$5.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2946	+0.034%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2959	+0.489%	$981K	$237K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2927	−0.612%	$715K	$659K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2938	−0.231%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2944	−0.034%	$156K	$253K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2945	+0.014%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDClong	+0.0100%	4h	0.2945	long leg	$31K	$42K	10x
HTX JUP-USDT	+0.0100%	4h	0.2952	+0.238%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2961	+0.543%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	+0.323%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2946	+0.048%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTXshort	+0.0208%	1h	0.2942	−0.119%	$74K	$50K	50x
Phoenix JUP	+0.0271%	1h	0.2959	+0.458%	$97K	$304K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0325%	1h	0.2958	+0.431%	$54K	$16K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2944	−0.034%	$837K	$383K	50x	as long as short
Extended JUP-USD	+0.0440%	1h	0.2961	+0.534%	$2.2M	$502K	25x	as long as short