Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h +0.068%

Price spread now: Kraken Futures against Variational Omni+0.066%7-day average +0.111% · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.478%+$48 on $10k

Price spread, last 3 days (all we have)+0.230%+$23 · spread now +0.066%, 7d avg +0.111%

Together, before fees+0.708%+ Points / potential airdropVariational Omni: Active · farm board+$71 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.045% cheaper against Variational Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.111%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.478%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JUP	0.2955	0.0100	pay 0.0050% / 4h	1h 17m	$714K	$1.1M	—
Short	Kraken Futures PF_JUPUSD	0.2957	−0.0176	pay 0.0022% / 1h	17m 14s	$600K	$614K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$57.93
Price spread: +0.066% → +0.111%: −$4.48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$72.41
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Kraken Futures: live order book, 1 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, 2 min ago	6.77 bp	doesn't fit	37.3 bp −$373	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	11.84 bp	21.0 bp −$21	69.6 bp −$696	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 PERP	−0.3508%	1h	0.2911	−1.477%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2956	+0.059%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2955	+0.028%	$282K	$171K	10x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0176%	1h	0.2957	+0.066%	$600K	$614K	20x
01 Exchange JUPUSD	−0.0016%	1h	0.2958	+0.097%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	+0.080%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2957	+0.095%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0008%	4h	0.2954	−0.021%	$746K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	−0.034%	—	—	20x	as long as short
BloFin JUP-USDT	+0.0070%	4h	0.2958	+0.114%	$844K	$327K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0073%	8h	0.2955	+0.011%	$9K	$13K	10x	as long as short
Bybit JUPUSDT	+0.0084%	4h	0.2952	−0.079%	$16.2M	$23.3M	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2958	+0.128%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2952	−0.097%	$611K	$671K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2960	+0.188%	$19.0M	$13.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2958	+0.110%	$106K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	+0.038%	$16.3M	$54.6M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2955	+0.012%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2959	+0.148%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2956	+0.046%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2957	+0.080%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	+0.012%	$5.6M	$8.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2955	+0.012%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2956	+0.053%	$978K	$255K	10x	as long as short
Variational Omni JUPlong	+0.0100%	4h	0.2955	long leg	$714K	$1.1M	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	+0.216%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2957	+0.080%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2960	+0.178%	$93K	$132K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	+0.080%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2948	−0.224%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2961	+0.216%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2953	−0.042%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0141%	1h	0.2957	+0.068%	$39K	$35K	5x	as long as short
Extended JUP-USD	+0.0168%	1h	0.2953	−0.041%	$2.2M	$503K	25x	as long as short
Phoenix JUP	+0.0190%	1h	0.2959	+0.134%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2956	+0.056%	$74K	$94K	50x	as long as short