Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0718%/8h= −78.7% APRpaid last 24h −0.101%

Price spread now: GMX against Variational Omni−0.288%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 GMX

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 −$22 a day on $10k at the current rate, and GMX is 0.288% cheaper against Variational Omni than usual: you would sell low and buy high (−$29 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	0.2917	0.0100	pay 0.0050% / 4h	2h 32m	$712K	$625K	—
Short	GMX JUP/USD [WBTC.b-USDC]	0.2909	L −0.0275% / S +0.0618%	pay 0.0077% / 1h	32m 19s	$16K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.288%Rate

Funding earned: −$150.85
Price spread: −0.288% → 0.000%: −$28.82
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$191.68
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 32 min ago; GMX: 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, 32 min ago	6.78 bp	doesn't fit	37.3 bp −$373	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.242%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0275% / S +0.0618%	1h	0.2909	−0.288%	$16K	—	100x
Pacifica JUP	−0.0230%	1h	0.2911	−0.216%	$277K	$145K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2910	−0.255%	$52K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2910	−0.249%	—	—	150x	as long as short
dYdX JUP-USD	+0.0015%	1h	0.2910	−0.257%	$38K	$20K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2909	−0.291%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2913	−0.125%	$768K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2911	−0.219%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2912	−0.182%	$577K	$492K	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	0.2912	−0.176%	$18.3M	$8.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2910	−0.240%	$108K	$270K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2910	−0.259%	$15.9M	$39.3M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2906	−0.368%	$15.7M	$17.8M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2910	−0.242%	$4.0M	$10.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2909	−0.260%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2909	−0.276%	$714K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2909	−0.276%	$6.9M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2912	−0.173%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2911	−0.207%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2909	−0.276%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2909	−0.259%	$962K	$189K	10x	as long as short
Variational Omni JUPlong	+0.0100%	4h	0.2917	long leg	$712K	$625K	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2919	+0.077%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2923	+0.204%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2913	−0.125%	$92K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2910	−0.242%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2903	−0.482%	$109K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2905	−0.412%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2912	−0.166%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0168%	1h	0.2910	−0.251%	$2.2M	$524K	25x	as long as short
Phemex JUPUSDT	+0.0184%	4h	0.2913	−0.139%	$2.9M	$3.0M	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0259%	1h	0.2911	−0.210%	$578K	$460K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2921	+0.132%	$99K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2968	+1.740%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2907	−0.344%	$826K	$375K	50x	as long as short