Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: GRVT against Polymarket Perps−0.176%63s7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as 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−$620.616% of the position

Long on Polymarket Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.269%+$27 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.176%, 7d avg −0.093%

Together, before fees+0.209%+ Points / potential airdropGRVT: Active · farm board+$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.084% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.093%. The two prices were read 63 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	0.2972	0.0100	pay 0.0013% / 1h	21m 54s	$94K	$105K	10x
Short	GRVT JUP_USDT_Perp	0.2966	0.0100	get 0.0050% / 4h	2h 21m	$1.6M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GRVTbpOrdersPrice spread, now −0.176%Rate

Funding earned: $0
Price spread: −0.176% → −0.093%: −$8.35
Slippage, 4 orders: −$44.59
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$69.94
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 28 min ago; GRVT: live order book, 5 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, 28 min ago	3.02 bp	15.0 bp −$15	15.7 bp −$157	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	1.69 bp	13.1 bp −$13	39.0 bp −$390	doesn't fit	doesn't fit

JUP on 36 exchanges

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	−0.3614%	1h	0.3020	+1.625%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2970	−0.056%	$16K	—	100x	as long as short
Pacifica JUP	−0.0028%	1h	0.2964	−0.266%	$282K	$131K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2958	−0.447%	$39K	$13K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.2969	−0.086%	$18K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2969	−0.078%	—	—	20x	as long as short
ApeX Omni JUPUSDT	+0.0065%	1h	0.2961	−0.360%	$163K	$234K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2972	+0.003%	$763K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2966	−0.189%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2968	−0.133%	$577K	$482K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2973	+0.057%	$18.3M	$8.6M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2968	−0.121%	$101K	$294K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2969	−0.096%	$16.3M	$37.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2968	−0.118%	$16.1M	$16.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2968	−0.125%	$4.1M	$10.0M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2967	−0.158%	$710K	$1.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2968	−0.125%	$8.0M	$5.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2969	−0.091%	$4.0M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2970	−0.057%	$5.9M	$4.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2969	−0.091%	—	$21.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2971	−0.037%	$987K	$232K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2960	−0.397%	$715K	$463K	—	as long as short
GRVT JUP_USDT_Perpshort	+0.0100%	4h	0.2966	−0.176%	$1.6M	$4.0M	10x
Polymarket Perps JUP-USDlong	+0.0100%	1h	0.2972	long leg	$94K	$105K	10x
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2970	−0.057%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2958	−0.461%	$112K	$50K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2964	−0.242%	$61K	$2K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2967	−0.171%	$2.2M	$545K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2970	−0.057%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0192%	1h	0.2966	−0.199%	$26K	$2K	5x	as long as short
Phemex JUPUSDT	+0.0245%	4h	0.2971	−0.024%	$2.9M	$2.9M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0289%	1h	0.2972	+0.003%	$55K	$9K	10x	as long as short
Phoenix JUP	+0.0318%	1h	0.2966	−0.199%	$97K	$265K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	−0.697%	$828K	$371K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0360%	1h	0.2972	+0.017%	$82K	$57K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0389%	1h	0.2972	+0.002%	$585K	$387K	20x	as long as short