JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.08 per $10,000 · paid last 24h −0.006%

Price spread now: Lighter against Phoenix+0.084%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)−0.470%−$47 · spread now +0.084%, 7d avg −0.035%

Together, before fees−0.476%+ Points / potential airdropLighter: Season 3 · farm board−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.120% dearer against Phoenix than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of −0.035%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.1 days. At the pace of the last 7 days (−0.006% in total) that is about 5 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix JUP	0.2971	0.0162	pay 0.0020% / 1h	10m 25s	$97K	$479K	10x
Short	Lighter JUP	0.2974	0.0096	get 0.0012% / 1h	10m 25s	$795K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$13.78
Price spread: +0.084% → −0.035%: $11.96
Slippage, 4 orders: −$38.97
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$47.8
Costs to cover: 0.460%
Break-even: never at this rate

Slippage from Phoenix: live order book, 66 min ago; Lighter: live order book, 6 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 Phoenix live order book, 66 min ago	2.53 bp	14.4 bp −$14	29.0 bp −$290	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	2.19 bp	7.4 bp −$7	53.4 bp −$534	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	−0.4371%	1h	0.2938	−1.121%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2974	+0.078%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2968	−0.112%	$598K	$591K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2971	+0.003%	$283K	$165K	10x	as long as short
Bybit JUPUSDT	−0.0057%	4h	0.2972	+0.024%	$16.2M	$22.1M	50x	as long as short
01 Exchange JUPUSD	−0.0032%	1h	0.2974	+0.088%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0020%	1h	0.2967	−0.145%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2974	+0.107%	$17K	—	150x	as long as short
Variational Omni JUP	+0.0044%	4h	0.2964	−0.260%	$718K	$777K	—	as long as short
Gate JUP_USDT	+0.0046%	4h	0.2972	+0.024%	$741K	$1.8M	75x	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	+0.0056%	1h	0.2972	+0.009%	$39K	$33K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2971	−0.025%	—	—	20x	as long as short
OKX JUP-USDT-SWAP	+0.0059%	4h	0.2972	+0.024%	$4.0M	$16.2M	50x	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2973	+0.052%	$9K	$13K	10x	as long as short
Lighter JUPshort	+0.0096%	1h	0.2974	+0.084%	$795K	$1.4M	10x
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2967	−0.145%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2971	−0.002%	$615K	$647K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2978	+0.222%	$19.1M	$13.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2972	+0.030%	$115K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2974	+0.100%	$16.3M	$52.0M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2975	+0.128%	$62K	$10K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2974	+0.091%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2974	+0.091%	$4.2M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2974	+0.091%	$5.8M	$7.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2972	+0.024%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2968	−0.128%	$982K	$234K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2970	−0.044%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2967	−0.145%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2981	+0.340%	$94K	$120K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2961	−0.347%	$111K	$62K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2970	−0.044%	$2.9M	$3.9M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2965	−0.212%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0131%	4h	0.2965	−0.212%	$635K	$303K	50x	as long as short
Phoenix JUPlong	+0.0162%	1h	0.2971	long leg	$97K	$479K	10x
Extended JUP-USD	+0.0168%	1h	0.2973	+0.063%	$2.2M	$507K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2978	+0.225%	$74K	$91K	50x	as long as short