Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Lighter against Orderly−0.041%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 Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.041% cheaper against Orderly than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_JUP_USDC	0.2937	0.0100	pay 0.0050% / 4h	2h 42m	$30K	$26K	10x
Short	Lighter JUP	0.2936	0.0096	get 0.0012% / 1h	42m 36s	$774K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$0.84
Price spread: −0.041% → 0.000%: −$4.09
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.93
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 3 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 Lighter live order book, 3 min ago	2.89 bp	9.6 bp −$10	50.8 bp −$508	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	−0.4499%	1h	0.2910	−0.919%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2937	−0.014%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2932	−0.159%	$279K	$146K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0022%	1h	0.2936	−0.027%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2938	+0.031%	—	—	150x	as long as short
dYdX JUP-USD	+0.0024%	1h	0.2936	−0.050%	$38K	$20K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2929	−0.269%	—	—	20x	as long as short
Lighter JUPshort	+0.0096%	1h	0.2936	−0.041%	$774K	$1.0M	10x
Paradex JUP-USD-PERP	+0.0100%	8h	0.2932	−0.187%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2932	−0.179%	$591K	$487K	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	0.2938	+0.024%	$18.5M	$8.8M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2934	−0.119%	$108K	$270K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2930	−0.223%	$16.1M	$39.2M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2928	−0.313%	$15.8M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2930	−0.238%	$4.1M	$10.8M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2938	+0.034%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2930	−0.238%	$729K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2932	−0.170%	$7.3M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2934	−0.102%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2931	−0.204%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2931	−0.204%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2934	−0.099%	$971K	$188K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2940	+0.102%	$719K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2941	+0.136%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2944	+0.238%	$162K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2933	−0.133%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDClong	+0.0100%	4h	0.2937	long leg	$30K	$26K	10x
HTX JUP-USDT	+0.0100%	4h	0.2930	−0.238%	$110K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2938	+0.034%	$2.9M	$3.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2934	−0.085%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0168%	1h	0.2933	−0.119%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2931	−0.220%	$2.2M	$505K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0257%	1h	0.2936	−0.029%	$583K	$458K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2951	+0.470%	$99K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2968	+1.049%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2935	−0.068%	$829K	$376K	50x	as long as short