Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0043%/8h= +4.7% APRnext payment +$0.05 per $10,000 · paid last 24h —

Price spread now: Backpack against Reya+0.010%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya JUPRUSDPERP	0.2952	0.0057	pay 0.0007% / 1h	0m 42s	—	—	20x
Short	Backpack JUP_USDC_PERP	0.2953	0.0100	get 0.0013% / 1h	0m 42s	$979K	$215K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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 ReyabpFee BackpackbpOrdersPrice spread, now +0.010%Rate

Funding earned: $9.09
Price spread: +0.010% → 0.000%: $1.02
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$5.88
Costs to cover: 0.160%
Break-even: 11.5 days

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 48 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 48 min ago	1.52 bp	7.2 bp −$7	818.3 bp −$8,183	doesn't fit	doesn't fit

Reya: 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	−0.4499%	1h	0.2905	−1.609%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2953	+0.005%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2949	−0.131%	$281K	$143K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2952	−0.014%	—	—	150x	as long as short
dYdX JUP-USD	+0.0010%	1h	0.2948	−0.152%	$39K	$19K	5x	as long as short
Reya JUPRUSDPERPlong	+0.0057%	1h	0.2952	long leg	—	—	20x
Lighter JUP	+0.0096%	1h	0.2953	+0.003%	$766K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2949	−0.103%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2951	−0.034%	$580K	$494K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2951	−0.052%	$18.2M	$9.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JUPUSDT	+0.0100%	4h	0.2949	−0.118%	$107K	$283K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2949	−0.118%	$16.2M	$39.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2947	−0.173%	$16.0M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2949	−0.118%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2953	+0.008%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2950	−0.085%	$723K	$1.5M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2948	−0.152%	$6.8M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2950	−0.085%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2949	−0.118%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2946	−0.220%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERPshort	+0.0100%	1h	0.2953	+0.010%	$979K	$215K	10x
Variational Omni JUP	+0.0100%	4h	0.2949	−0.120%	$715K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2952	−0.009%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2953	+0.017%	$163K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2952	−0.007%	$93K	$103K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2953	+0.017%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.254%	$111K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2951	−0.051%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2952	−0.024%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0216%	1h	0.2947	−0.183%	$2.2M	$570K	25x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0224%	1h	0.2954	+0.037%	$53K	$17K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0256%	1h	0.2954	+0.035%	$583K	$462K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2951	−0.054%	$98K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2953	+0.017%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2948	−0.152%	$825K	$380K	50x	as long as short
Phemex JUPUSDT	+0.0586%	4h	0.2957	+0.152%	$2.9M	$3.1M	50x	as long as short