Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.005%

Price spread now: Paradex against Phemex−0.313%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.313% cheaper against Phemex than usual: you would sell low and buy high (−$31 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	0.2959	0.0100	pay 0.0050% / 4h	1h 38m	$2.9M	$4.1M	50x
Short	Paradex JUP-USD-PERP	0.2950	0.0066	get 0.0066% / 8h	1h 38m	$9K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.313%Rate

Funding earned: −$7.06
Price spread: −0.313% → 0.000%: −$31.31
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$54.37
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 5 min ago; Paradex: 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, 5 min ago	1.69 bp	20.3 bp −$20	72.7 bp −$727	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−1.386%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0539% / S +0.0373%	1h	0.2957	−0.058%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2950	−0.297%	$281K	$172K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0257%	1h	0.2956	−0.105%	$56K	$14K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2957	−0.074%	$599K	$619K	20x	as long as short
01 Exchange JUPUSD	−0.0088%	1h	0.2951	−0.274%	$26K	$19K	5x	as long as short
Gate JUP_USDT	−0.0010%	4h	0.2948	−0.372%	$734K	$1.9M	75x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2959	−0.014%	$17K	—	150x	as long as short
Bybit JUPUSDT	+0.0049%	4h	0.2947	−0.395%	$16.1M	$23.8M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2957	−0.078%	—	—	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-PERPshort	+0.0066%	8h	0.2950	−0.313%	$9K	$15K	10x
dYdX JUP-USD	+0.0068%	1h	0.2953	−0.215%	$39K	$35K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2954	−0.186%	$792K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2950	−0.296%	$612K	$673K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	−0.129%	$18.9M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2954	−0.184%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2949	−0.335%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2950	−0.304%	$4.0M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2949	−0.338%	$7.9M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	−0.203%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	−0.304%	$5.7M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2949	−0.338%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2956	−0.098%	$978K	$260K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2955	−0.130%	$714K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2957	−0.069%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2959	0.000%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2963	+0.122%	$93K	$136K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	−0.068%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2951	−0.270%	$111K	$69K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2959	long leg	$2.9M	$4.1M	50x
Bulk JUP-USD	+0.0100%	1h	0.2957	−0.068%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2950	−0.313%	$2.2M	$540K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2955	−0.124%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0160%	4h	0.2954	−0.169%	$848K	$328K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.030%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.031%	$74K	$94K	50x	as long as short