Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Phemex against Variational Omni+0.280%7-day average +0.171% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.014%+$1 on $10k

Price spread, last 3 days (all we have)+0.006%+$1 · spread now +0.280%, 7d avg +0.171%

Together, before fees+0.019%+ Points / potential airdropVariational Omni: Active · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.108% dearer against Variational Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.171%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JUP	0.2984	0.0100	pay 0.0050% / 4h	35m 08s	$722K	$1.0M	—
Short	Phemex JUPUSDT	0.2992	0.0100	get 0.0050% / 4h	35m 08s	$2.9M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.280%Rate

Funding earned: $0
Price spread: +0.280% → +0.171%: $10.82
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$1.18
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Phemex: live order book, 4 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, 4 min ago	5.03 bp	doesn't fit	35.2 bp −$352	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.67 bp	17.9 bp −$18	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 PERP	−0.4371%	1h	0.2950	−1.128%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2986	+0.093%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2988	+0.140%	$602K	$609K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2985	+0.044%	$284K	$168K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0051%	1h	0.2987	+0.102%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2988	+0.130%	$17K	—	150x	as long as short
Bybit JUPUSDT	+0.0007%	4h	0.2982	−0.056%	$16.3M	$22.9M	50x	as long as short
Gate JUP_USDT	+0.0052%	4h	0.2983	−0.022%	$747K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2983	−0.017%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0064%	1h	0.2986	+0.082%	$26K	$19K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0072%	4h	0.2984	+0.012%	$850K	$329K	50x	as long as short
dYdX JUP-USD	+0.0083%	1h	0.2987	+0.099%	$39K	$34K	5x	as long as short
Paradex JUP-USD-PERP	+0.0086%	8h	0.2985	+0.054%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2988	+0.139%	$800K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2987	+0.112%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2984	−0.005%	$615K	$662K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2988	+0.133%	$116K	$363K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2986	+0.079%	$16.4M	$53.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2983	−0.022%	$4.1M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2985	+0.045%	$58K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2985	+0.045%	$8.2M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2987	+0.112%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2987	+0.112%	$5.8M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2984	+0.012%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2986	+0.085%	$988K	$244K	10x	as long as short
Variational Omni JUPlong	+0.0100%	4h	0.2984	long leg	$722K	$1.0M	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2989	+0.179%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2989	+0.179%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2989	+0.179%	$94K	$129K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2978	−0.190%	$112K	$66K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2992	+0.280%	$2.9M	$3.9M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2983	−0.022%	$41K	—	3x	as long as short
Phoenix JUP	+0.0162%	1h	0.2990	+0.203%	$97K	$479K	10x	as long as short
Hyperliquid JUP	+0.0177%	1h	0.2990	+0.229%	$19.2M	$13.1M	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3000	+0.561%	$75K	$95K	50x	as long as short
Extended JUP-USD	+0.0272%	1h	0.2983	−0.021%	$2.2M	$507K	25x	as long as short