Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.033%

Price spread now: gTrade (Gains Network) against Phemex−0.169%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 gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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 −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.169% cheaper against Phemex than usual: you would sell low and buy high (−$17 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	0.2977	0.0100	pay 0.0050% / 4h	6m 16s	$2.9M	$3.9M	50x
Short	gTrade (Gains Network) JUP/USD	0.2972	L +0.0002% / S −0.0001%	get 0.0000% / 1h	6m 16s	$17K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.169%Rate

Funding earned: −$20.76
Price spread: −0.169% → 0.000%: −$16.86
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$59.63
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; gTrade (Gains Network): 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	3.35 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.4371%	1h	0.2938	−1.310%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2971	−0.186%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2972	−0.166%	$599K	$591K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2970	−0.226%	$283K	$165K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0120%	1h	0.2971	−0.188%	$56K	$14K	10x	as long as short
Bybit JUPUSDT	−0.0065%	4h	0.2968	−0.292%	$16.2M	$22.1M	50x	as long as short
01 Exchange JUPUSD	−0.0040%	1h	0.2970	−0.218%	$26K	$19K	5x	as long as short
gTrade (Gains Network) JUP/USDshort	L +0.0002% / S −0.0001%	1h	0.2972	−0.169%	$17K	—	150x
Variational Omni JUP	+0.0036%	4h	0.2967	−0.349%	$718K	$776K	—	as long as short
OKX JUP-USDT-SWAP	+0.0047%	4h	0.2968	−0.302%	$4.0M	$16.1M	50x	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	0.2968	−0.308%	—	—	20x	as long as short
Gate JUP_USDT	+0.0058%	4h	0.2971	−0.202%	$740K	$1.8M	75x	as long as short
dYdX JUP-USD	+0.0066%	1h	0.2972	−0.151%	$39K	$32K	5x	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2970	−0.247%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2973	−0.124%	$795K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2971	−0.202%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2967	−0.319%	$616K	$647K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2975	−0.050%	$19.1M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2973	−0.145%	$115K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2970	−0.235%	$16.3M	$51.9M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2972	−0.168%	$62K	$9K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2971	−0.202%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2973	−0.134%	$4.2M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2970	−0.235%	$5.8M	$7.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2970	−0.235%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2971	−0.195%	$983K	$233K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2974	−0.101%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2973	−0.134%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2977	−0.010%	$94K	$119K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2963	−0.470%	$111K	$62K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2977	long leg	$2.9M	$3.9M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2968	−0.302%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0128%	1h	0.2968	−0.313%	$2.2M	$507K	25x	as long as short
BloFin JUP-USDT	+0.0134%	4h	0.2971	−0.202%	$637K	$304K	50x	as long as short
Phoenix JUP	+0.0162%	1h	0.2974	−0.114%	$97K	$479K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2978	+0.034%	$74K	$91K	50x	as long as short