Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0024%/8h= +2.7% APRpaid last 24h 0.000%

Price spread now: Bulk against Variational Omni+0.054%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: 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 0.054% dearer against Variational Omni than usual: you sell high and buy low: +$5 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	Variational Omni JUP	0.2952	0.0076	pay 0.0038% / 4h	1h 57m	$722K	$1.1M	—
Short	Bulk JUP-USD	0.2954	0.0100	get 0.0013% / 1h	57m 43s	$57K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Variational Omni. 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 Variational OmnibpFee BulkbpOrdersPrice spread, now +0.054%Rate

Funding earned: $5.14
Price spread: +0.054% → 0.000%: $5.43
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $3.57
Costs to cover: 0.070%
Break-even: 2.1 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; 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 Variational Omni RFQ quote, 1 min ago	6.78 bp	doesn't fit	44.1 bp −$441	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

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	−0.3508%	1h	0.2922	−1.030%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0957% / S +0.0354%	1h	0.2951	−0.039%	$13K	—	100x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0597%	1h	0.2950	−0.085%	$56K	$14K	10x	as long as short
Pacifica JUP	−0.0335%	1h	0.2951	−0.043%	$281K	$177K	10x	as long as short
01 Exchange JUPUSD	−0.0312%	1h	0.2951	−0.061%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2950	−0.065%	$598K	$623K	20x	as long as short
Bybit JUPUSDT	−0.0139%	4h	0.2949	−0.115%	$16.1M	$23.9M	50x	as long as short
Gate JUP_USDT	−0.0054%	4h	0.2950	−0.081%	$734K	$1.9M	75x	as long as short
Backpack JUP_USDC_PERP	−0.0052%	1h	0.2951	−0.061%	$976K	$263K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2954	+0.047%	$39K	$35K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix JUP	0.0000%	1h	0.2954	+0.064%	$94K	$440K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2952	−0.029%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	−0.173%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0068%	8h	0.2950	−0.065%	$9K	$15K	10x	as long as short
Variational Omni JUPlong	+0.0076%	4h	0.2952	long leg	$722K	$1.1M	—
Lighter JUP	+0.0096%	1h	0.2953	+0.024%	$816K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2949	−0.107%	$610K	$678K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	+0.075%	$18.9M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2952	−0.002%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.081%	$16.3M	$56.1M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2949	−0.115%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2951	−0.047%	$8.0M	$7.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	+0.020%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	−0.081%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2950	−0.081%	—	$20.9M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2956	+0.136%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	+0.122%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2954	+0.041%	$93K	$139K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2950	−0.081%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2942	−0.352%	$110K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2955	+0.088%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USDshort	+0.0100%	1h	0.2954	+0.054%	$57K	$3K	10x
Extended JUP-USD	+0.0104%	1h	0.2950	−0.096%	$2.2M	$541K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.132%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0141%	4h	0.2950	−0.081%	$854K	$336K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.257%	$74K	$94K	50x	as long as short