Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0314%/8h= +34.4% APRpaid last 24h +0.028%

Price spread now: Kraken Futures against Orderly−0.052%7-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 Kraken Futures

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. Kraken Futures is 0.052% cheaper against Orderly than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_JUP_USDC	0.2927	0.0100	pay 0.0050% / 4h	46m 49s	$33K	$29K	10x
Short	Kraken Futures PF_JUPUSD	0.2925	0.0414	get 0.0052% / 1h	46m 49s	$577K	$415K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.052%Rate

Funding earned: $65.9
Price spread: −0.052% → 0.000%: −$5.21
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $44.69
Costs to cover: 0.160%
Break-even: 2.3 days

Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 56 min ago. 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 Kraken Futures live order book, 56 min ago	15.36 bp	26.6 bp −$27	83.6 bp −$836	doesn't fit	doesn't fit

Orderly: 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	−1.298%	$3K	$207K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2927	+0.002%	$16K	—	100x	as long as short
Pacifica JUP	−0.0058%	1h	0.2927	+0.007%	$279K	$138K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2927	−0.003%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2927	+0.007%	—	—	150x	as long as short
dYdX JUP-USD	+0.0046%	1h	0.2927	+0.014%	$39K	$15K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2927	0.000%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2928	+0.017%	$759K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2928	+0.031%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2926	−0.034%	$572K	$491K	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	0.2926	−0.025%	$18.0M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2927	−0.013%	$99K	$295K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2927	0.000%	$16.0M	$38.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2926	−0.034%	$15.9M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2928	+0.034%	$4.0M	$10.2M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2913	−0.461%	$60K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2924	−0.102%	$700K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2923	−0.137%	$6.7M	$5.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2926	−0.034%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2928	+0.034%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2926	−0.034%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2924	−0.092%	$968K	$223K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2912	−0.515%	$706K	$531K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2917	−0.341%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2921	−0.205%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2930	+0.106%	$93K	$106K	10x	as long as short
Orderly PERP_JUP_USDClong	+0.0100%	4h	0.2927	long leg	$33K	$29K	10x
HTX JUP-USDT	+0.0100%	4h	0.2920	−0.239%	$110K	$42K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2925	−0.071%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0136%	1h	0.2930	+0.106%	$26K	$6K	5x	as long as short
Extended JUP-USD	+0.0192%	1h	0.2922	−0.181%	$2.2M	$573K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2927	+0.014%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2924	−0.102%	$822K	$371K	50x	as long as short
Phoenix JUP	+0.0355%	1h	0.2929	+0.068%	$105K	$284K	10x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0414%	1h	0.2925	−0.052%	$577K	$415K	20x
Phemex JUPUSDT	+0.0424%	4h	0.2928	+0.034%	$2.9M	$3.0M	50x	as long as short