Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h —

Price spread now: Reya against Variational Omni−0.043%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 Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Reya is 0.043% cheaper against Variational Omni than usual: you would sell low and buy high (−$4 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	0.2971	0.0100	pay 0.0050% / 4h	2h 14m	$727K	$1.2M	—
Short	Reya JUPRUSDPERP	0.2970	0.0057	get 0.0007% / 1h	14m 56s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.043%Rate

Funding earned: −$9.09
Price spread: −0.043% → 0.000%: −$4.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$19.38
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Reya: 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, 4 min ago	5.05 bp	doesn't fit	38.7 bp −$387	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	+0.223%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0876% / S +0.0328%	1h	0.2973	+0.039%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0119%	4h	0.2968	−0.113%	$16.2M	$24.0M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0019%	1h	0.2973	+0.038%	$56K	$14K	10x	as long as short
Phoenix JUP	0.0000%	1h	0.2979	+0.260%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2973	+0.043%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0002%	4h	0.2968	−0.113%	$739K	$2.0M	75x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2972	+0.028%	$603K	$624K	20x	as long as short
dYdX JUP-USD	+0.0027%	1h	0.2975	+0.117%	$39K	$36K	5x	as long as short
01 Exchange JUPUSD	+0.0048%	1h	0.2971	−0.022%	$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
Reya JUPRUSDPERPshort	+0.0057%	1h	0.2970	−0.043%	—	—	20x
Paradex JUP-USD-PERP	+0.0093%	8h	0.2971	−0.018%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2974	+0.079%	$861K	$1.3M	10x	as long as short
BloFin JUP-USDT	+0.0100%	4h	0.2975	+0.122%	$859K	$334K	50x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2972	+0.021%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2970	−0.038%	$598K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2976	+0.153%	$19.1M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2975	+0.120%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2972	+0.012%	$283K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2971	−0.027%	$16.4M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2970	−0.046%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2971	−0.012%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2975	+0.122%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2971	−0.012%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2969	−0.080%	—	$21.0M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2972	+0.025%	$984K	$266K	10x	as long as short
Variational Omni JUPlong	+0.0100%	4h	0.2971	long leg	$727K	$1.2M	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2979	+0.241%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2978	+0.223%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2979	+0.250%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2965	−0.214%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2977	+0.190%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2982	+0.358%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2970	−0.053%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.610%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2970	−0.052%	$2.2M	$539K	25x	as long as short