Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.004%

Price spread now: Bulk against Phemex+0.513%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Bulk

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—needs both histories

The price spread pays, funding is against you. Bulk is 0.513% dearer against Phemex than usual: you sell high and buy low (spread +0.513% now, against zero (this spread has no 7-day history yet)): +$51 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 36 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2923	0.0148	pay 0.0074% / 4h	2h 39m	$2.9M	$3.0M	50x
Short	Bulk JUP-USD	0.2938	0.0100	get 0.0013% / 1h	39m 09s	$61K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.513%Rate

Funding earned: −$10.01
Price spread: +0.513% → 0.000%: $51.32
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $22.3
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Phemex: live order book, 5 min ago; Bulk: no order-book sample. 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 Phemex live order book, 5 min ago	3.40 bp	21.8 bp −$22	68.3 bp −$683	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: 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	−0.4499%	1h	0.2910	−0.445%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2919	−0.154%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2917	−0.217%	$278K	$145K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2919	−0.123%	$52K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2919	−0.125%	—	—	150x	as long as short
dYdX JUP-USD	+0.0020%	1h	0.2919	−0.152%	$39K	$20K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2916	−0.229%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2918	−0.164%	$769K	$1.0M	10x	as long as short
Bybit JUPUSDT	+0.0097%	4h	0.2913	−0.342%	$15.7M	$17.7M	50x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2917	−0.194%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2913	−0.325%	$577K	$494K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2919	−0.123%	$18.3M	$8.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2917	−0.190%	$108K	$270K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2916	−0.237%	$16.0M	$39.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2914	−0.308%	$4.0M	$10.7M	50x	as long as short
Bulk JUP-USDshort	+0.0100%	1h	0.2938	+0.513%	$61K	−$0	10x
Gate JUP_USDT	+0.0100%	4h	0.2917	−0.205%	$717K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2916	−0.239%	$7.0M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2917	−0.205%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2917	−0.205%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2915	−0.274%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2917	−0.202%	$964K	$189K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2921	−0.068%	$715K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2926	+0.113%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2926	+0.103%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2917	−0.209%	$92K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2919	−0.137%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2912	−0.376%	$109K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2917	−0.190%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2915	−0.284%	$26K	$10K	5x	as long as short
Phemex JUPUSDTlong	+0.0148%	4h	0.2923	long leg	$2.9M	$3.0M	50x
Extended JUP-USD	+0.0184%	1h	0.2916	−0.239%	$2.2M	$509K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0259%	1h	0.2918	−0.187%	$579K	$458K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2920	−0.113%	$98K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2968	+1.533%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2916	−0.239%	$827K	$376K	50x	as long as short