Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0221%/8h= −24.2% APRpaid last 24h 0.000%

Price spread now: Bybit against Polymarket Perps+0.030%47s7-day average −0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.617% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.243%+$24 on $10k

Price spread, last 3 days (all we have)−0.594%−$59 · spread now +0.030%, 7d avg −0.145%

Together, before fees−0.351%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.176% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.145%): +$18 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.7 days. Mind the row above: over the last 7 days funding on this pair paid +0.243%, so the current rate has only just turned against you. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps JUP-USD	0.2955	0.0100	pay 0.0013% / 1h	56m 40s	$93K	$139K	10x
Short	Bybit JUPUSDT	0.2956	−0.0121	pay 0.0060% / 4h	1h 56m	$16.2M	$23.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$46.41
Price spread: +0.030% → −0.145%: $17.57
Slippage, 4 orders: −$42.69
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$90.53
Costs to cover: 0.617%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 25 min ago; Bybit: live order book, 2 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, 25 min ago	11.22 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.70 bp	11.8 bp −$12	34.9 bp −$349	238.5 bp −$23.9K	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	−1.120%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0962% / S +0.0355%	1h	0.2954	−0.037%	$13K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2958	+0.093%	$282K	$177K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0325%	1h	0.2953	−0.061%	$56K	$14K	10x	as long as short
01 Exchange JUPUSD	−0.0312%	1h	0.2951	−0.152%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2953	−0.084%	$599K	$623K	20x	as long as short
Bybit JUPUSDTshort	−0.0121%	4h	0.2956	+0.030%	$16.2M	$23.9M	50x
Gate JUP_USDT	−0.0054%	4h	0.2950	−0.173%	$734K	$1.9M	75x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2959	+0.122%	$39K	$35K	5x	as long as short
Phoenix JUP	0.0000%	1h	0.2956	+0.034%	$95K	$441K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2954	−0.050%	$17K	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0017%	1h	0.2954	−0.024%	$978K	$263K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2952	−0.103%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0068%	8h	0.2958	+0.110%	$9K	$15K	10x	as long as short
Variational Omni JUP	+0.0076%	4h	0.2952	−0.091%	$722K	$1.1M	—	as long as short
Lighter JUP	+0.0096%	1h	0.2959	+0.125%	$816K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2949	−0.198%	$610K	$677K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2961	+0.195%	$18.9M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2956	+0.030%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2958	+0.102%	$16.3M	$56.0M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2957	+0.064%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2958	+0.098%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2958	+0.098%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2956	+0.030%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2954	−0.037%	—	$20.9M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2956	+0.045%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	+0.030%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USDlong	+0.0100%	1h	0.2955	long leg	$93K	$139K	10x
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2953	−0.071%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.342%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2957	+0.064%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2954	−0.037%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2954	−0.035%	$2.2M	$541K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2951	−0.139%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0104%	4h	0.2953	−0.071%	$855K	$331K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.164%	$74K	$94K	50x	as long as short