Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.4447%/8h= −487.0% APRpaid last 24h −0.592%

Price spread now: Injective against Variational Omni−0.975%7-day average −2.063% · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−2.149%−$215 on $10k

Price spread, last 3 days (all we have)+0.601%+$60 · spread now −0.975%, 7d avg −2.063%

Together, before fees−1.547%+ Points / potential airdropVariational Omni: Active · farm board−$155 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.088% dearer against Variational Omni than usual: you sell high and buy low (spread −0.975% now, against its 7-day average of −2.063%): +$109 on $10k if it goes back. Holding the pair costs −$133 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 3 days (−2.149% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JUP	0.2972	0.0100	pay 0.0050% / 4h	2h 57m	$720K	$768K	—
Short	Injective JUP/USDC PERP	0.2943	−0.4347	pay 0.0543% / 1h	57m 05s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −0.975%Rate

Funding earned: −$933.97
Price spread: −0.975% → −2.063%: $108.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$825.22
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 27 min ago; Injective: live order book, 12 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 Variational Omni RFQ quote, 27 min ago	8.30 bp	doesn't fit	34.8 bp −$348	doesn't fit	doesn't fit
Sell Injective live order book, 12 min ago	86.38 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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 PERPshort	−0.4347%	1h	0.2943	−0.975%	$3K	$206K	5.5x
Backpack JUP_USDC_PERP	−0.0479%	1h	0.2957	−0.504%	$980K	$234K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0425%	1h	0.2960	−0.410%	$54K	$16K	10x	as long as short
Pacifica JUP	−0.0353%	1h	0.2967	−0.163%	$283K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2963	−0.286%	$16K	—	100x	as long as short
01 Exchange JUPUSD	−0.0152%	1h	0.2962	−0.326%	$26K	$19K	5x	as long as short
OKX JUP-USDT-SWAP	−0.0073%	4h	0.2953	−0.639%	$4.0M	$15.1M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2959	−0.431%	$595K	$523K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2969	−0.084%	$39K	$31K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2963	−0.308%	—	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JUPUSDT	+0.0039%	4h	0.2952	−0.666%	$16.1M	$20.4M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2962	−0.351%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0080%	8h	0.2965	−0.233%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2961	−0.383%	$783K	$1.3M	10x	as long as short
Gate JUP_USDT	+0.0096%	4h	0.2952	−0.672%	$732K	$1.4M	75x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2960	−0.403%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2963	−0.294%	$610K	$629K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2960	−0.413%	$19.0M	$11.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2966	−0.215%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2958	−0.470%	$16.3M	$47.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2971	−0.033%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2958	−0.470%	$7.7M	$6.8M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2959	−0.437%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2959	−0.437%	$5.8M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2954	−0.605%	—	$20.8M	—	as long as short
Variational Omni JUPlong	+0.0100%	4h	0.2972	long leg	$720K	$768K	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2978	+0.214%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2977	+0.169%	$158K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2970	−0.073%	$93K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2964	−0.269%	$112K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2957	−0.495%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.622%	$40K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.2982	+0.320%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2962	−0.343%	$74K	$59K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2960	−0.403%	$849K	$365K	50x	as long as short
Phemex JUPUSDT	+0.0470%	4h	0.2959	−0.437%	$2.9M	$3.6M	50x	as long as short