Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Binance against Phemex−0.067%7-day average −0.158% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 3 days (all we have)−0.193%−$19 · spread now −0.067%, 7d avg −0.158%

Together, before fees−0.287%−$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.091% dearer against Phemex than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.158%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2969	0.0100	pay 0.0050% / 4h	1h 55m	$2.9M	$4.1M	50x
Short	Binance JUPUSDT	0.2967	0.0100	get 0.0050% / 4h	1h 55m	$16.4M	$56.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → −0.158%: $9.06
Slippage, 4 orders: −$37.37
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$50.31
Costs to cover: 0.594%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 2 min ago.

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 Phemex live order book, 4 min ago	1.69 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.69 bp	11.4 bp −$11	27.2 bp −$272	137.2 bp −$13.7K	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	−1.583%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0970% / S +0.0358%	1h	0.2967	−0.062%	$13K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2964	−0.156%	$282K	$177K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0175%	1h	0.2968	−0.049%	$602K	$623K	20x	as long as short
01 Exchange JUPUSD	−0.0144%	1h	0.2970	+0.034%	$26K	$19K	5x	as long as short
Bybit JUPUSDT	−0.0103%	4h	0.2965	−0.135%	$16.2M	$23.9M	50x	as long as short
Gate JUP_USDT	−0.0036%	4h	0.2965	−0.135%	$737K	$1.9M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2956	−0.434%	$95K	$441K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2968	−0.034%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2967	−0.066%	$17K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2966	−0.091%	—	—	20x	as long as short
dYdX JUP-USD	+0.0067%	1h	0.2965	−0.144%	$39K	$35K	5x	as long as short
Paradex JUP-USD-PERP	+0.0069%	8h	0.2965	−0.151%	$9K	$15K	10x	as long as short
Variational Omni JUP	+0.0074%	4h	0.2956	−0.429%	$721K	$1.1M	—	as long as short
Lighter JUP	+0.0096%	1h	0.2968	−0.037%	$816K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2965	−0.118%	$614K	$677K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2971	+0.079%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2964	−0.155%	$106K	$367K	10x	as long as short
Binance JUPUSDTshort	+0.0100%	4h	0.2967	−0.067%	$16.4M	$56.0M	75x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2967	−0.067%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2967	−0.067%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2967	−0.067%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2966	−0.101%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2966	−0.101%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2961	−0.280%	$980K	$263K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2953	−0.544%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2951	−0.606%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2971	+0.077%	$94K	$139K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2968	−0.034%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2960	−0.303%	$111K	$69K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2969	long leg	$2.9M	$4.1M	50x
Bulk JUP-USD	+0.0100%	1h	0.2954	−0.505%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2965	−0.142%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2965	−0.118%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0107%	4h	0.2968	−0.034%	$854K	$333K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+0.690%	$74K	$94K	50x	as long as short