Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0718%/8h= −78.7% APRpaid last 24h −0.073%

Price spread now: GMX against Phemex+0.006%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 GMX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$22 a day on $10k at the current rate.

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	8m 05s	$2.9M	$3.9M	50x
Short	GMX JUP/USD [WBTC.b-USDC]	0.2977	L −0.0275% / S +0.0618%	pay 0.0077% / 1h	8m 05s	$16K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$150.85
Price spread: +0.006% → 0.000%: $0.6
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$174.24
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 6 min ago; GMX: 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, 6 min ago	1.68 bp	19.9 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.0275% / S +0.0618%	1h	0.2977	+0.006%	$16K	—	100x
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2977	+0.001%	$600K	$591K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2975	−0.058%	$283K	$165K	10x	as long as short
Bybit JUPUSDT	−0.0057%	4h	0.2973	−0.134%	$16.2M	$22.1M	50x	as long as short
01 Exchange JUPUSD	−0.0040%	1h	0.2978	+0.020%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2977	−0.003%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2976	−0.034%	$17K	—	150x	as long as short
Variational Omni JUP	+0.0044%	4h	0.2964	−0.451%	$718K	$777K	—	as long as short
dYdX JUP-USD	+0.0054%	1h	0.2976	−0.048%	$39K	$33K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0054%	4h	0.2973	−0.134%	$741K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2974	−0.115%	—	—	20x	as long as short
OKX JUP-USDT-SWAP	+0.0058%	4h	0.2971	−0.202%	$4.1M	$16.1M	50x	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2974	−0.084%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2978	+0.017%	$796K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2977	0.000%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2974	−0.101%	$617K	$647K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2980	+0.116%	$19.2M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2976	−0.025%	$115K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2976	−0.034%	$16.4M	$52.0M	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	0.2976	−0.034%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2976	−0.034%	$4.2M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2975	−0.067%	$5.8M	$7.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2975	−0.067%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2977	−0.010%	$985K	$234K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2968	−0.301%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2967	−0.336%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.188%	$94K	$119K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2970	−0.235%	$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	0.2974	−0.117%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0134%	4h	0.2973	−0.134%	$637K	$304K	50x	as long as short
Extended JUP-USD	+0.0144%	1h	0.2973	−0.120%	$2.2M	$507K	25x	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