Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.024%

Price spread now: GRVT against Phemex+0.391%7-day average −0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$780.779% of the position

Long on Phemex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 3 days (all we have)−0.549%−$55 · spread now +0.391%, 7d avg −0.166%

Together, before fees−0.583%+ Points / potential airdropGRVT: Active · farm board−$58 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.557% dearer against Phemex than usual: you sell high and buy low, +$56 on $10k if it goes back to its 7-day average of −0.166%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2955	0.0100	pay 0.0050% / 4h	1h 50m	$2.9M	$4.1M	50x
Short	GRVT JUP_USDT_Perp	0.2967	0.0100	get 0.0050% / 4h	1h 50m	$1.6M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.391%Rate

Funding earned: $0
Price spread: +0.391% → −0.166%: $55.73
Slippage, 4 orders: −$56.89
Fee Phemex: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$22.16
Costs to cover: 0.779%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; GRVT: live order book, 4 min ago.

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, 3 min ago	1.69 bp	17.0 bp −$17	66.6 bp −$666	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.69 bp	9.3 bp −$9	70.1 bp −$701	doesn't fit	doesn't fit

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	0.2922	−1.117%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0994% / S +0.0365%	1h	0.2950	−0.184%	$13K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2951	−0.119%	$281K	$177K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0326%	1h	0.2947	−0.264%	$56K	$14K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2950	−0.158%	$598K	$623K	20x	as long as short
01 Exchange JUPUSD	−0.0096%	1h	0.2950	−0.173%	$26K	$19K	5x	as long as short
Bybit JUPUSDT	−0.0040%	4h	0.2945	−0.349%	$16.1M	$23.9M	50x	as long as short
Gate JUP_USDT	−0.0030%	4h	0.2948	−0.237%	$733K	$1.9M	75x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2950	−0.186%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	−0.269%	—	—	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	+0.0065%	8h	0.2951	−0.145%	$9K	$15K	10x	as long as short
dYdX JUP-USD	+0.0079%	1h	0.2953	−0.078%	$39K	$35K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2954	−0.051%	$805K	$1.3M	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2951	−0.127%	$721K	$1.1M	—	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2948	−0.220%	$610K	$672K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2953	−0.074%	$18.9M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2954	−0.046%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2947	−0.278%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2945	−0.338%	$4.0M	$16.6M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2952	−0.102%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2949	−0.203%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2954	−0.034%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2946	−0.305%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2945	−0.338%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2951	−0.139%	$977K	$263K	10x	as long as short
GRVT JUP_USDT_Perpshort	+0.0100%	4h	0.2967	+0.391%	$1.6M	$4.1M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2955	0.000%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2953	−0.074%	$93K	$138K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2948	−0.237%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.102%	$111K	$69K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2955	long leg	$2.9M	$4.1M	50x
Extended JUP-USD	+0.0104%	1h	0.2945	−0.346%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2946	−0.300%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0149%	4h	0.2955	0.000%	$851K	$331K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2958	+0.091%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.168%	$74K	$94K	50x	as long as short