Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.038%

Price spread now: Coinbase International against Phemex+0.698%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 Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.698% dearer against Phemex than usual: you sell high and buy low: +$70 more if the spread 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	Phemex JUPUSDT	0.2967	0.0100	pay 0.0050% / 4h	2h 38m	$2.9M	$4.1M	50x
Short	Coinbase International JUP-PERP-INTX	0.2988	0.0248	get 0.0031% / 1h	38m 25s	$74K	$95K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.698%Rate

Funding earned: $31.08
Price spread: +0.698% → 0.000%: $69.77
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $78.85
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Phemex: live order book, 5 min ago; Coinbase International: 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	3.37 bp	21.7 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.5000%	1h	0.2929	−1.281%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0751% / S +0.0259%	1h	0.2964	−0.113%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0326%	4h	0.2961	−0.202%	$16.2M	$24.2M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0256%	1h	0.2960	−0.233%	$56K	$14K	10x	as long as short
Gate JUP_USDT	0.0000%	4h	0.2960	−0.236%	$738K	$1.9M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2971	+0.148%	$94K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2963	−0.144%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2960	−0.240%	$601K	$623K	20x	as long as short
dYdX JUP-USD	+0.0013%	1h	0.2961	−0.207%	$39K	$36K	5x	as long as short
01 Exchange JUPUSD	+0.0056%	1h	0.2962	−0.175%	$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	0.2958	−0.289%	—	—	20x	as long as short
Backpack JUP_USDC_PERP	+0.0067%	1h	0.2959	−0.266%	$981K	$268K	10x	as long as short
BloFin JUP-USDT	+0.0085%	4h	0.2962	−0.169%	$863K	$328K	50x	as long as short
Variational Omni JUP	+0.0089%	4h	0.2965	−0.067%	$725K	$1.2M	—	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2959	−0.257%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2962	−0.165%	$891K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2963	−0.135%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2957	−0.345%	$597K	$667K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2963	−0.128%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2960	−0.228%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2959	−0.254%	$282K	$183K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2961	−0.202%	$16.4M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2961	−0.202%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2961	−0.202%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2962	−0.169%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2958	−0.303%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2960	−0.236%	—	$21.6M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2970	+0.090%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2966	−0.034%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2963	−0.128%	$94K	$137K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2960	−0.236%	$111K	$69K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2967	long leg	$2.9M	$4.1M	50x
Bulk JUP-USD	+0.0100%	1h	0.2965	−0.051%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2959	−0.284%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0248%	1h	0.2961	−0.213%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTXshort	+0.0248%	1h	0.2988	+0.698%	$74K	$95K	50x