Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.011%

Price spread now: Backpack against Paradex+0.079%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.079% dearer against Paradex than usual: you sell high and buy low: +$8 more if the spread 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	Paradex JUP-USD-PERP	0.2958	0.0068	pay 0.0068% / 8h	1h 55m	$9K	$15K	10x
Short	Backpack JUP_USDC_PERP	0.2961	0.0100	get 0.0013% / 1h	55m 58s	$980K	$263K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now +0.079%Rate

Funding earned: $6.67
Price spread: +0.079% → 0.000%: $7.91
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: $0.57
Costs to cover: 0.140%
Break-even: 6.4 days

Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 28 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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 28 min ago	0.17 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit

Paradex: 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	−0.3508%	1h	0.2922	−1.229%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0966% / S +0.0357%	1h	0.2961	+0.085%	$13K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2958	−0.017%	$282K	$177K	10x	as long as short
01 Exchange JUPUSD	−0.0240%	1h	0.2961	+0.076%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2960	+0.059%	$600K	$623K	20x	as long as short
Bybit JUPUSDT	−0.0121%	4h	0.2956	−0.080%	$16.2M	$23.9M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0088%	1h	0.2961	+0.079%	$56K	$14K	10x	as long as short
Gate JUP_USDT	−0.0044%	4h	0.2954	−0.147%	$735K	$1.9M	75x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2959	+0.012%	$39K	$35K	5x	as long as short
Phoenix JUP	0.0000%	1h	0.2956	−0.076%	$95K	$441K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2961	+0.074%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2958	−0.010%	—	—	20x	as long as short
Paradex JUP-USD-PERPlong	+0.0068%	8h	0.2958	long leg	$9K	$15K	10x
Variational Omni JUP	+0.0076%	4h	0.2952	−0.202%	$722K	$1.1M	—	as long as short
Lighter JUP	+0.0096%	1h	0.2961	+0.079%	$816K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2958	−0.021%	$612K	$677K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2964	+0.174%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2958	−0.002%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2960	+0.040%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2959	+0.022%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	+0.022%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2959	+0.022%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2958	−0.012%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2958	−0.012%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERPshort	+0.0100%	1h	0.2961	+0.079%	$980K	$263K	10x
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2956	−0.066%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	−0.080%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2963	+0.153%	$93K	$139K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2960	+0.055%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.215%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2961	+0.089%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2954	−0.147%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2958	−0.011%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2958	0.000%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0104%	4h	0.2953	−0.181%	$855K	$331K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.053%	$74K	$94K	50x	as long as short