Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: KuCoin against Phemex−0.135%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1191.195% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 4 days (all we have)−0.350%−$35 · spread now −0.135%, 7d avg −0.129%

Together, before fees−0.462%−$46 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2958	0.0100	pay 0.0050% / 4h	1h 39m	$2.9M	$3.3M	50x
Short	KuCoin JUPUSDTM	0.2954	0.0100	get 0.0050% / 4h	1h 39m	$4.0M	$6.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.135%Rate

Funding earned: $0
Price spread: −0.135% → −0.129%: −$0.58
Slippage, 4 orders: −$95.46
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$120.04
Costs to cover: 1.195%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; KuCoin: 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, 4 min ago	8.47 bp	25.9 bp −$26	73.8 bp −$738	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	3.39 bp	34.4 bp −$34	112.5 bp −$1,125	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	−0.5000%	1h	0.2918	−1.352%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2952	−0.198%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2952	−0.191%	$281K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2952	−0.196%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2953	−0.162%	—	—	150x	as long as short
Bybit JUPUSDT	+0.0007%	4h	0.2949	−0.291%	$15.8M	$19.2M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0034%	4h	0.2952	−0.203%	$4.1M	$12.6M	50x	as long as short
Backpack JUP_USDC_PERP	+0.0036%	1h	0.2961	+0.095%	$983K	$255K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2952	−0.203%	—	—	20x	as long as short
Variational Omni JUP	+0.0093%	4h	0.2946	−0.408%	$719K	$698K	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0095%	1h	0.2955	−0.087%	$39K	$27K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2956	−0.081%	$782K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0097%	8h	0.2950	−0.274%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2953	−0.186%	$598K	$511K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2956	−0.064%	$18.8M	$9.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2957	−0.038%	$114K	$298K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2952	−0.203%	$16.3M	$43.4M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2939	−0.655%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2954	−0.135%	$738K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2952	−0.203%	$7.5M	$6.6M	200x	as long as short
KuCoin JUPUSDTMshort	+0.0100%	4h	0.2954	−0.135%	$4.0M	$6.7M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2953	−0.169%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2954	−0.135%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	−0.292%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	−0.406%	$157K	$274K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2956	−0.057%	$93K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2953	−0.169%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.406%	$111K	$47K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2958	long leg	$2.9M	$3.3M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2950	−0.270%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2954	−0.139%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0200%	1h	0.2954	−0.124%	$590K	$496K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2956	−0.078%	$74K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2951	−0.233%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2954	−0.135%	$842K	$370K	50x	as long as short
Extended JUP-USD	+0.0344%	1h	0.2951	−0.247%	$2.2M	$492K	25x	as long as short