JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0152%/8h= −16.6% APRnext payment −$0.19 per $10,000 · paid last 24h −0.012%

Price spread now: Backpack against Polymarket Perps−0.102%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on Polymarket Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.316%+$32 on $10k

Price spread, last 3 days (all we have)−0.425%−$42 · spread now −0.102%, 7d avg −0.085%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.085%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.316%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps JUP-USD	0.2954	0.0100	pay 0.0013% / 1h	57m 54s	$93K	$139K	10x
Short	Backpack JUP_USDC_PERP	0.2951	−0.0052	pay 0.0006% / 1h	57m 54s	$976K	$263K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Polymarket Perps. 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 Polymarket PerpsbpFee BackpackbpOrdersPrice spread, now −0.102%Rate

Funding earned: −$31.85
Price spread: −0.102% → −0.085%: −$1.62
Slippage, 4 orders: −$32.2
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$83.67
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 24 min ago; Backpack: live order book, 26 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 Polymarket Perps live order book, 24 min ago	11.22 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 26 min ago	0.17 bp	7.2 bp −$7	doesn't fit	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	−1.070%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0957% / S +0.0354%	1h	0.2951	−0.080%	$13K	—	100x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0597%	1h	0.2950	−0.125%	$56K	$14K	10x	as long as short
Pacifica JUP	−0.0335%	1h	0.2950	−0.109%	$281K	$177K	10x	as long as short
01 Exchange JUPUSD	−0.0296%	1h	0.2949	−0.173%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2950	−0.106%	$598K	$623K	20x	as long as short
Bybit JUPUSDT	−0.0158%	4h	0.2948	−0.190%	$16.1M	$23.9M	50x	as long as short
Gate JUP_USDT	−0.0058%	4h	0.2948	−0.190%	$733K	$1.9M	75x	as long as short
Backpack JUP_USDC_PERPshort	−0.0052%	1h	0.2951	−0.102%	$976K	$263K	10x
dYdX JUP-USD	0.0000%	1h	0.2954	+0.007%	$39K	$35K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix JUP	0.0000%	1h	0.2954	+0.024%	$94K	$440K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2952	−0.069%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	−0.213%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0069%	8h	0.2948	−0.183%	$9K	$15K	10x	as long as short
Variational Omni JUP	+0.0076%	4h	0.2952	−0.041%	$722K	$1.1M	—	as long as short
Lighter JUP	+0.0096%	1h	0.2951	−0.085%	$818K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2949	−0.147%	$610K	$678K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	+0.034%	$18.9M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2952	−0.043%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2949	−0.156%	$16.3M	$56.1M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2950	−0.122%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2950	−0.122%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2952	−0.054%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2949	−0.156%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2948	−0.190%	—	$20.9M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2956	+0.095%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	+0.081%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USDlong	+0.0100%	1h	0.2954	long leg	$93K	$139K	10x
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2950	−0.122%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2942	−0.393%	$110K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2955	+0.047%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2954	+0.014%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2949	−0.163%	$2.2M	$541K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.173%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0141%	4h	0.2950	−0.122%	$854K	$336K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.215%	$74K	$94K	50x	as long as short