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: Bulk against Reya+0.628%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 Bulk

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bulk is 0.628% dearer against Reya than usual: you sell high and buy low: +$63 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya JUPRUSDPERP	0.2936	0.0057	pay 0.0007% / 1h	42m 44s	—	—	20x
Short	Bulk JUP-USD	0.2954	0.0100	get 0.0013% / 1h	42m 44s	$61K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.628%Rate

Funding earned: $9.09
Price spread: +0.628% → 0.000%: $62.83
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $58.93
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Bulk: no order-book sample. 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 Bulk no order-book sample	—	—	—	—	—

Reya and Bulk: 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	0.2910	−0.887%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2937	+0.018%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2932	−0.126%	$279K	$146K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0022%	1h	0.2936	+0.005%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2938	+0.063%	—	—	150x	as long as short
dYdX JUP-USD	+0.0024%	1h	0.2936	−0.018%	$38K	$20K	5x	as long as short
Reya JUPRUSDPERPlong	+0.0057%	1h	0.2936	long leg	—	—	20x
Lighter JUP	+0.0096%	1h	0.2936	−0.009%	$774K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2932	−0.155%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2938	+0.058%	$592K	$487K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2938	+0.056%	$18.5M	$8.8M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2936	−0.011%	$108K	$270K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2932	−0.129%	$16.1M	$39.2M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2929	−0.240%	$15.8M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2931	−0.172%	$4.1M	$10.8M	50x	as long as short
Bulk JUP-USDshort	+0.0100%	1h	0.2954	+0.628%	$61K	−$0	10x
Gate JUP_USDT	+0.0100%	4h	0.2935	−0.036%	$730K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2932	−0.138%	$7.3M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2934	−0.070%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2935	−0.036%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2934	−0.070%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2934	−0.066%	$971K	$188K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2940	+0.134%	$719K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2941	+0.169%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2944	+0.271%	$162K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2941	+0.155%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2937	+0.032%	$30K	$26K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2930	−0.206%	$110K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2938	+0.066%	$2.9M	$3.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2934	−0.053%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0168%	1h	0.2940	+0.141%	$26K	$11K	5x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2932	−0.146%	$2.2M	$505K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0257%	1h	0.2936	+0.003%	$583K	$458K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2951	+0.502%	$99K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2968	+1.081%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2935	−0.036%	$829K	$376K	50x	as long as short