Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.043%

Price spread now: Variational Omni against 01 Exchange+0.165%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Variational Omni is 0.165% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.165% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange JUPUSD	0.2946	0.0136	pay 0.0017% / 1h	9m 03s	$26K	$17K	5x
Short	Variational Omni JUP	0.2951	0.0100	get 0.0050% / 4h	3h 09m	$721K	$624K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against 01 Exchange. 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 01 ExchangebpFee Variational OmnibpOrdersPrice spread, now +0.165%Rate

Funding earned: −$7.56
Price spread: +0.165% → 0.000%: $16.48
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1.92
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; Variational Omni: RFQ quote, 60 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 60 min ago	8.46 bp	doesn't fit	32.1 bp −$321	doesn't fit	doesn't fit

01 Exchange: 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	0.2918	−0.954%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2945	−0.041%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2947	+0.027%	$281K	$146K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2952	+0.216%	$39K	$21K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2945	−0.051%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2946	−0.007%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2942	−0.131%	—	—	20x	as long as short
Backpack JUP_USDC_PERP	+0.0068%	1h	0.2945	−0.037%	$975K	$186K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2948	+0.048%	$777K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2948	+0.053%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2945	−0.037%	$594K	$488K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2947	+0.044%	$18.5M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2947	+0.027%	$110K	$273K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2945	−0.051%	$16.1M	$39.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2942	−0.139%	$15.9M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2944	−0.071%	$4.1M	$11.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2955	+0.302%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2943	−0.105%	$730K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2944	−0.071%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2945	−0.037%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2946	−0.003%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2944	−0.071%	—	$20.7M	—	as long as short
Variational Omni JUPshort	+0.0100%	4h	0.2951	+0.165%	$721K	$624K	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2959	+0.445%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2957	+0.370%	$163K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2950	+0.122%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2944	−0.071%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2938	−0.275%	$110K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2950	+0.132%	$2.9M	$3.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2942	−0.146%	$40K	—	3x	as long as short
01 Exchange JUPUSDlong	+0.0136%	1h	0.2946	long leg	$26K	$17K	5x
Kraken Futures PF_JUPUSD	+0.0178%	1h	0.2946	+0.002%	$585K	$470K	20x	as long as short
Extended JUP-USD	+0.0216%	1h	0.2942	−0.123%	$2.2M	$504K	25x	as long as short
Phoenix JUP	+0.0216%	1h	0.2955	+0.302%	$98K	$283K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2968	+0.737%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2948	+0.064%	$830K	$377K	50x	as long as short