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: BingX against Phemex−0.168%7-day average −0.179% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.168%, 7d avg −0.179%

Together, before fees−0.164%−$16 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2972	0.0100	pay 0.0050% / 4h	2h 39m	$2.9M	$4.1M	50x
Short	BingX JUP-USDT	0.2967	0.0100	get 0.0050% / 4h	2h 39m	—	$21.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → −0.179%: $1.11
Slippage, 4 orders: −$33.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$54.56
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; BingX: live order book, 4 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	3.37 bp	21.7 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	1.69 bp	6.7 bp −$7	9.6 bp −$96	20.3 bp −$2,028	66.2 bp −$33.1K

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	−0.5000%	1h	0.2929	−1.447%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0751% / S +0.0259%	1h	0.2970	−0.077%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0348%	4h	0.2965	−0.236%	$16.3M	$24.1M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0019%	1h	0.2970	−0.074%	$56K	$14K	10x	as long as short
Gate JUP_USDT	−0.0004%	4h	0.2966	−0.202%	$740K	$1.9M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2971	−0.020%	$94K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2970	−0.083%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2971	−0.047%	$603K	$623K	20x	as long as short
dYdX JUP-USD	+0.0014%	1h	0.2970	−0.070%	$39K	$36K	5x	as long as short
01 Exchange JUPUSD	+0.0056%	1h	0.2970	−0.077%	$26K	$19K	5x	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	0.2967	−0.162%	—	—	20x	as long as short
Backpack JUP_USDC_PERP	+0.0063%	1h	0.2969	−0.087%	$985K	$268K	10x	as long as short
Variational Omni JUP	+0.0089%	4h	0.2965	−0.235%	$725K	$1.2M	—	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2968	−0.135%	$9K	$15K	10x	as long as short
BloFin JUP-USDT	+0.0094%	4h	0.2966	−0.202%	$868K	$329K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2972	−0.003%	$894K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2970	−0.067%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2966	−0.185%	$598K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2971	−0.038%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2970	−0.074%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2968	−0.144%	$283K	$185K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2967	−0.163%	$16.5M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2966	−0.202%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2969	−0.101%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2970	−0.067%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2967	−0.168%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2967	−0.168%	—	$21.6M	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	−0.370%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2961	−0.370%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2972	+0.010%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2961	−0.370%	$111K	$69K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2972	long leg	$2.9M	$4.1M	50x
Bulk JUP-USD	+0.0100%	1h	0.2965	−0.219%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2966	−0.202%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0248%	1h	0.2966	−0.213%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.528%	$74K	$95K	50x	as long as short