Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h +0.056%

Price spread now: Hyperliquid against Paradex+0.257%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 Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.257% dearer against Paradex than usual: you sell high and buy low, +$26 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	Paradex JUP-USD-PERP	0.3006	0.0094	pay 0.0094% / 8h	3h 29m	$9K	$15K	10x
Short	Hyperliquid JUP	0.3014	0.0100	get 0.0013% / 1h	29m 56s	$19.3M	$14.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.257%Rate

Funding earned: $1.17
Price spread: +0.257% → 0.000%: $25.74
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $13.92
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	0.83 bp	10.7 bp −$11	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	−0.4049%	1h	0.3006	+0.008%	$3K	$110K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0608% / S +0.0214%	1h	0.3008	+0.066%	$13K	—	100x	as long as short
Gate JUP_USDT	−0.0118%	4h	0.3005	−0.025%	$754K	$2.0M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.3003	−0.099%	$45K	$396K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.3009	+0.118%	$58K	$13K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3008	+0.070%	$17K	—	150x	as long as short
dYdX JUP-USD	+0.0048%	1h	0.3008	+0.071%	$39K	$41K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.3004	−0.055%	—	—	20x	as long as short
Paradex JUP-USD-PERPlong	+0.0094%	8h	0.3006	long leg	$9K	$15K	10x
Lighter JUP	+0.0096%	1h	0.3013	+0.247%	$937K	$1.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_JUP_USDC	+0.0099%	4h	0.3009	+0.108%	$31K	$52K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.3005	−0.025%	$602K	$667K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.3014	+0.257%	$19.3M	$14.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.3008	+0.069%	$109K	$368K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.3006	+0.014%	$288K	$165K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3009	+0.101%	$16.7M	$56.6M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.3006	+0.018%	$16.9M	$23.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.3007	+0.041%	$4.1M	$16.9M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3010	+0.141%	$8.3M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3009	+0.108%	$4.2M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3007	+0.041%	$5.8M	$8.8M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3007	+0.041%	—	$21.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3010	+0.144%	$993K	$271K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2997	−0.293%	$736K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.3001	−0.158%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2997	−0.292%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3011	+0.188%	$95K	$141K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2999	−0.225%	$113K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3011	+0.174%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.3003	−0.105%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.3011	+0.178%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0124%	4h	0.3003	−0.092%	$869K	$277K	50x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.3010	+0.154%	$27K	$19K	5x	as long as short
Extended JUP-USD	+0.0200%	1h	0.3007	+0.031%	$2.2M	$542K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3009	+0.118%	$75K	$95K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0283%	1h	0.3009	+0.109%	$608K	$623K	20x	as long as short