Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0043%/8h= +4.7% APRnext payment +$0.05 per $10,000 · paid last 24h —

Price spread now: Hyperliquid against Reya+0.316%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 Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.316% dearer against Reya than usual: you sell high and buy low: +$32 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	0.3004	0.0057	pay 0.0007% / 1h	29m 46s	—	—	20x
Short	Hyperliquid JUP	0.3014	0.0100	get 0.0013% / 1h	29m 46s	$19.3M	$14.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Reya. 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 ReyabpFee HyperliquidbpOrdersPrice spread, now +0.316%Rate

Funding earned: $9.09
Price spread: +0.316% → 0.000%: $31.58
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $25.68
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	0.83 bp	10.7 bp −$11	doesn't fit	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	−0.4049%	1h	0.3006	+0.063%	$3K	$110K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0608% / S +0.0214%	1h	0.3008	+0.121%	$13K	—	100x	as long as short
Gate JUP_USDT	−0.0118%	4h	0.3005	+0.030%	$754K	$2.0M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.3003	−0.044%	$45K	$396K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.3009	+0.173%	$58K	$13K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3008	+0.125%	$17K	—	150x	as long as short
dYdX JUP-USD	+0.0046%	1h	0.3011	+0.229%	$39K	$41K	5x	as long as short
Reya JUPRUSDPERPlong	+0.0057%	1h	0.3004	long leg	—	—	20x
Paradex JUP-USD-PERP	+0.0094%	8h	0.3006	+0.055%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.3009	+0.173%	$935K	$1.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_JUP_USDC	+0.0099%	4h	0.3009	+0.163%	$31K	$52K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.3005	+0.030%	$602K	$667K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.3014	+0.316%	$19.3M	$14.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.3009	+0.172%	$109K	$368K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.3006	+0.069%	$288K	$165K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3008	+0.132%	$16.7M	$56.6M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.3003	−0.034%	$16.9M	$23.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.3003	−0.037%	$4.1M	$16.9M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3010	+0.196%	$8.3M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3009	+0.163%	$4.2M	$7.3M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3007	+0.096%	$5.8M	$8.8M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3007	+0.096%	—	$21.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3010	+0.199%	$993K	$271K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2997	−0.238%	$736K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.3001	−0.104%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2997	−0.237%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3011	+0.243%	$95K	$141K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2999	−0.170%	$113K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3011	+0.229%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.3003	−0.051%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.3011	+0.233%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0124%	4h	0.3003	−0.037%	$869K	$277K	50x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.3010	+0.209%	$27K	$19K	5x	as long as short
Extended JUP-USD	+0.0200%	1h	0.3007	+0.086%	$2.2M	$542K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3009	+0.173%	$75K	$95K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0283%	1h	0.3009	+0.164%	$608K	$623K	20x	as long as short