Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0718%/8h= −78.6% APRpaid last 24h −0.065%

Price spread now: GMX against Orderly+0.030%7-day average — · you sell dearer than you buy

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

Long on Orderly 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 0.030% dearer against Orderly than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 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	Orderly PERP_JUP_USDC	0.2986	0.0099	pay 0.0050% / 4h	33m 10s	$31K	$48K	10x
Short	GMX JUP/USD [WBTC.b-USDC]	0.2987	L −0.0275% / S +0.0618%	pay 0.0077% / 1h	33m 10s	$16K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$150.7
Price spread: +0.030% → 0.000%: $2.98
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$165.72
Costs to cover: 0.180%
Break-even: never at this rate

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

Orderly and 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	−0.4371%	1h	0.2950	−1.206%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0275% / S +0.0618%	1h	0.2987	+0.030%	$16K	—	100x
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2987	+0.034%	$602K	$604K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2987	+0.028%	$285K	$168K	10x	as long as short
Bybit JUPUSDT	0.0000%	4h	0.2981	−0.167%	$16.3M	$22.8M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2986	−0.003%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2988	+0.051%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0056%	1h	0.2986	+0.010%	$26K	$19K	5x	as long as short
Gate JUP_USDT	+0.0056%	4h	0.2985	−0.033%	$748K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2984	−0.071%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0076%	1h	0.2987	+0.020%	$39K	$34K	5x	as long as short
Paradex JUP-USD-PERP	+0.0085%	8h	0.2985	−0.026%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2987	+0.017%	$798K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDClong	+0.0099%	4h	0.2986	long leg	$31K	$48K	10x
Nado JUP-PERP	+0.0100%	1h	0.2985	−0.025%	$615K	$659K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2987	+0.033%	$116K	$363K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2984	−0.067%	$16.4M	$53.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2981	−0.167%	$4.1M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2985	−0.033%	$58K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2985	−0.033%	$8.2M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2987	+0.033%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2986	0.000%	$5.8M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2983	−0.100%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2985	−0.044%	$988K	$244K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2984	−0.078%	$722K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2989	+0.100%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2988	+0.067%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2989	+0.117%	$95K	$129K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2983	−0.100%	$112K	$66K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2991	+0.167%	$2.9M	$3.9M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2982	−0.119%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0139%	4h	0.2987	+0.033%	$851K	$329K	50x	as long as short
Phoenix JUP	+0.0162%	1h	0.2989	+0.094%	$97K	$479K	10x	as long as short
Hyperliquid JUP	+0.0167%	1h	0.2988	+0.064%	$19.2M	$13.1M	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3000	+0.482%	$75K	$95K	50x	as long as short
Extended JUP-USD	+0.0264%	1h	0.2982	−0.118%	$2.2M	$507K	25x	as long as short