Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0410%/8h= +44.9% APRpaid last 24h +0.043%

Price spread now: Variational Omni against Pacifica+0.043%7-day average +0.004% · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.070%+$7 on $10k

Price spread, last 3 days (all we have)+0.308%+$31 · spread now +0.043%, 7d avg +0.004%

Together, before fees+0.377%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Variational Omni is 0.039% dearer against Pacifica than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.004%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.070% in total (about 7.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica JUP	0.2951	−0.0335	get 0.0042% / 1h	57m 33s	$281K	$177K	10x
Short	Variational Omni JUP	0.2952	0.0076	get 0.0038% / 4h	1h 57m	$722K	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now +0.043%Rate

Funding earned: $86.2
Price spread: +0.043% → +0.004%: $3.9
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $82.1
Costs to cover: 0.080%
Break-even: 0.3 days

Slippage unknown: Pacifica: live order book, 26 min ago; Variational Omni: RFQ quote, 2 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 Pacifica live order book, 26 min ago	1.68 bp	14.0 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	6.78 bp	doesn't fit	37.3 bp −$373	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	0.2922	−0.987%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0962% / S +0.0355%	1h	0.2954	+0.098%	$13K	—	100x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0597%	1h	0.2950	−0.041%	$56K	$14K	10x	as long as short
Pacifica JUPlong	−0.0335%	1h	0.2951	long leg	$281K	$177K	10x
01 Exchange JUPUSD	−0.0312%	1h	0.2951	−0.018%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2950	−0.022%	$598K	$623K	20x	as long as short
Bybit JUPUSDT	−0.0139%	4h	0.2949	−0.072%	$16.1M	$23.9M	50x	as long as short
Gate JUP_USDT	−0.0054%	4h	0.2950	−0.038%	$734K	$1.9M	75x	as long as short
Backpack JUP_USDC_PERP	−0.0052%	1h	0.2951	−0.018%	$976K	$263K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2954	+0.091%	$39K	$35K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix JUP	0.0000%	1h	0.2956	+0.169%	$95K	$441K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2954	+0.085%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2952	+0.032%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0068%	8h	0.2950	−0.022%	$9K	$15K	10x	as long as short
Variational Omni JUPshort	+0.0076%	4h	0.2952	+0.043%	$722K	$1.1M	—
Lighter JUP	+0.0096%	1h	0.2953	+0.067%	$816K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2949	−0.063%	$610K	$677K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	+0.145%	$18.9M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2953	+0.059%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.036%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2950	−0.038%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2953	+0.064%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	+0.064%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	−0.038%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2950	−0.038%	—	$20.9M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2956	+0.179%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	+0.165%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2955	+0.135%	$93K	$139K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2950	−0.038%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2942	−0.309%	$110K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2955	+0.131%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2954	+0.098%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2950	−0.053%	$2.2M	$541K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.089%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0141%	4h	0.2950	−0.038%	$854K	$336K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.301%	$74K	$94K	50x	as long as short