Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.4760%/8h= −521.2% APRpaid last 24h −0.793%

Price spread now: Injective against Paradex−1.438%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Injective

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 against this trade now: funding costs −$143 a day on $10k at the current rate, and Injective is 1.438% cheaper against Paradex than usual: you would sell low and buy high (−$144 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex JUP-USD-PERP	0.2949	0.0099	pay 0.0099% / 8h	4h 29m	$9K	$11K	10x
Short	Injective JUP/USDC PERP	0.2907	−0.4661	pay 0.0583% / 1h	29m 44s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.438%Rate

Funding earned: −$999.57
Price spread: −1.438% → 0.000%: −$143.77
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,147.36
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Injective: live order book, 29 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 Injective live order book, 29 min ago	101.69 bp	doesn't fit	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 PERPshort	−0.4661%	1h	0.2907	−1.438%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2948	−0.043%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2948	−0.055%	$281K	$147K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2949	−0.006%	—	—	150x	as long as short
dYdX JUP-USD	+0.0015%	1h	0.2947	−0.067%	$38K	$25K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0021%	1h	0.2950	+0.027%	$54K	$16K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	−0.081%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2952	+0.082%	$591K	$487K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2955	+0.190%	$780K	$1.0M	10x	as long as short
Paradex JUP-USD-PERPlong	+0.0099%	8h	0.2949	long leg	$9K	$11K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2948	−0.065%	$592K	$497K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2954	+0.166%	$18.6M	$9.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2952	+0.100%	$110K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2953	+0.123%	$16.3M	$41.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2950	+0.030%	$15.9M	$18.5M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2952	+0.088%	$4.0M	$11.8M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.454%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2950	+0.020%	$731K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2954	+0.156%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	+0.122%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2953	+0.122%	$5.8M	$5.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2953	+0.122%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2952	+0.091%	$979K	$237K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2941	−0.285%	$718K	$643K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2938	−0.380%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2944	−0.183%	$156K	$253K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2951	+0.061%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2948	−0.048%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2941	−0.285%	$110K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2952	+0.088%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	+0.003%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0168%	1h	0.2951	+0.047%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2954	+0.163%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2959	+0.308%	$97K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2945	−0.149%	$837K	$383K	50x	as long as short
Extended JUP-USD	+0.0464%	1h	0.2951	+0.070%	$2.2M	$502K	25x	as long as short