Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.038%

Price spread now: Deribit against Variational Omni−0.068%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.068% cheaper against Variational Omni than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JUP	0.2979	0.0100	pay 0.0050% / 4h	2h 17m	$729K	$1.2M	—
Short	Deribit JUP_USDC-PERPETUAL	0.2977	0	get 0.0000% / 1h	17m 44s	$56K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$21
Price spread: −0.068% → 0.000%: −$6.83
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$34.83
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Deribit: 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	5.05 bp	doesn't fit	38.7 bp −$387	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.5000%	1h	0.2978	−0.045%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0864% / S +0.0325%	1h	0.2977	−0.079%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0087%	4h	0.2974	−0.179%	$16.3M	$24.1M	50x	as long as short
Phoenix JUP	0.0000%	1h	0.2982	+0.086%	$95K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUALshort	0.0000%	1h	0.2977	−0.068%	$56K	$14K	10x
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2978	−0.055%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2977	−0.066%	$604K	$624K	20x	as long as short
Gate JUP_USDT	+0.0012%	4h	0.2975	−0.146%	$740K	$1.9M	75x	as long as short
dYdX JUP-USD	+0.0029%	1h	0.2980	+0.017%	$39K	$36K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2975	−0.149%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0064%	1h	0.2976	−0.105%	$26K	$19K	5x	as long as short
BloFin JUP-USDT	+0.0082%	4h	0.2979	−0.011%	$858K	$335K	50x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2975	−0.136%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2979	−0.008%	$869K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2977	−0.078%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2975	−0.146%	$599K	$671K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2980	+0.009%	$19.1M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2979	+0.001%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2976	−0.117%	$284K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2976	−0.112%	$16.5M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2975	−0.146%	$4.1M	$16.8M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2975	−0.146%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2979	−0.011%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2977	−0.078%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2975	−0.146%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2977	−0.088%	$986K	$265K	10x	as long as short
Variational Omni JUPlong	+0.0100%	4h	0.2979	long leg	$729K	$1.2M	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2982	+0.103%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2979	−0.011%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.130%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2968	−0.380%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2983	+0.123%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2982	+0.089%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2975	−0.138%	$41K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.341%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0264%	1h	0.2975	−0.140%	$2.2M	$539K	25x	as long as short