Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h +1.218%

Price spread now: dYdX against Phemex−0.113%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and dYdX is 0.113% cheaper against Phemex than usual: you would sell low and buy high (−$11 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	Phemex JUPUSDT	0.2961	0.0100	pay 0.0050% / 4h	1h 42m	$2.9M	$4.1M	50x
Short	dYdX JUP-USD	0.2958	0.0074	get 0.0009% / 1h	42m 08s	$39K	$35K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$5.48
Price spread: −0.113% → 0.000%: −$11.33
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$38.82
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; dYdX: 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, 2 min ago	1.69 bp	20.3 bp −$20	72.7 bp −$727	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.3508%	1h	0.2918	−1.452%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0536% / S +0.0371%	1h	0.2957	−0.134%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2956	−0.172%	$282K	$173K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2955	−0.199%	$599K	$619K	20x	as long as short
01 Exchange JUPUSD	−0.0104%	1h	0.2959	−0.081%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0021%	1h	0.2957	−0.152%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2958	−0.118%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0008%	4h	0.2955	−0.203%	$735K	$1.9M	75x	as long as short
Bybit JUPUSDT	+0.0040%	4h	0.2956	−0.182%	$16.2M	$23.8M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2955	−0.202%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0066%	8h	0.2956	−0.166%	$9K	$15K	10x	as long as short
dYdX JUP-USDshort	+0.0074%	1h	0.2958	−0.113%	$39K	$35K	5x
BloFin JUP-USDT	+0.0076%	4h	0.2954	−0.236%	$851K	$331K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2957	−0.122%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2956	−0.169%	$613K	$673K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2961	−0.010%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2957	−0.134%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	−0.178%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2955	−0.203%	$4.1M	$16.6M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2952	−0.304%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2955	−0.203%	$7.9M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2958	−0.101%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	−0.203%	$5.6M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2955	−0.203%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2957	−0.138%	$979K	$260K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2947	−0.465%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2954	−0.238%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2954	−0.236%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2961	−0.010%	$93K	$137K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	−0.135%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2949	−0.405%	$111K	$69K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2961	long leg	$2.9M	$4.1M	50x
Extended JUP-USD	+0.0104%	1h	0.2953	−0.254%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2955	−0.186%	$40K	—	3x	as long as short
Phoenix JUP	+0.0190%	1h	0.2956	−0.165%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+0.963%	$74K	$94K	50x	as long as short