Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.4404%/8h= −482.3% APRnext payment −$5.51 per $10,000 · paid last 24h —

Price spread now: Injective against Reya−1.796%52s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Injective

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 against this trade now: funding costs −$132 a day on $10k at the current rate, and Injective is 1.796% cheaper against Reya than usual: you would sell low and buy high (−$180 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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	Reya JUPRUSDPERP	0.2954	0.0057	pay 0.0007% / 1h	30m 17s	—	—	20x
Short	Injective JUP/USDC PERP	0.2901	−0.4347	pay 0.0543% / 1h	30m 17s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.796%Rate

Funding earned: −$924.88
Price spread: −1.796% → 0.000%: −$179.58
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,110.48
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Injective: live order book, 39 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 Injective live order book, 39 min ago	86.38 bp	doesn't fit	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 35 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 PERPshort	−0.4347%	1h	0.2901	−1.796%	$3K	$206K	5.5x
Pacifica JUP	−0.0353%	1h	0.2953	−0.033%	$281K	$149K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2955	+0.028%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0248%	4h	0.2952	−0.066%	$15.9M	$20.3M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0064%	4h	0.2955	+0.032%	$4.1M	$14.5M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2958	+0.140%	$592K	$526K	20x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2955	+0.024%	—	—	150x	as long as short
Gate JUP_USDT	+0.0006%	4h	0.2953	−0.036%	$731K	$1.5M	75x	as long as short
Variational Omni JUP	+0.0009%	4h	0.2947	−0.237%	$720K	$751K	—	as long as short
dYdX JUP-USD	+0.0018%	1h	0.2954	−0.018%	$39K	$29K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit JUP_USDC-PERPETUAL	+0.0021%	1h	0.2957	+0.090%	$54K	$16K	10x	as long as short
Reya JUPRUSDPERPlong	+0.0057%	1h	0.2954	long leg	—	—	20x
01 Exchange JUPUSD	+0.0080%	1h	0.2957	+0.110%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERP	+0.0089%	8h	0.2953	−0.045%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2957	+0.093%	$781K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	+0.032%	$31K	$43K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2953	−0.036%	$600K	$602K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2957	+0.113%	$18.8M	$11.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2954	−0.011%	$114K	$323K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2955	+0.032%	$16.3M	$46.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.607%	$61K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2955	+0.032%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2955	+0.032%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	+0.032%	$5.7M	$6.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2953	−0.036%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2953	−0.029%	$978K	$237K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2948	−0.204%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2948	−0.205%	$157K	$302K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2958	+0.120%	$94K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.306%	$111K	$49K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	+0.015%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2952	−0.080%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2953	−0.052%	$74K	$52K	50x	as long as short
Phemex JUPUSDT	+0.0300%	4h	0.2957	+0.100%	$2.9M	$3.6M	50x	as long as short
Extended JUP-USD	+0.0312%	1h	0.2954	+0.014%	$2.2M	$486K	25x	as long as short