Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Backpack against ApeX Omni−0.053%84s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.587% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 3 days (all we have)+0.038%+$4 · spread now −0.053%, 7d avg −0.016%

Together, before fees+0.093%+$9 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: Backpack is 0.037% cheaper against ApeX Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.016%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni JUPUSDT	0.3016	0.0100	pay 0.0013% / 1h	11m 44s	$160K	$308K	50x
Short	Backpack JUP_USDC_PERP	0.3014	0.0100	get 0.0013% / 1h	11m 44s	$997K	$230K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now −0.053%Rate

Funding earned: $0
Price spread: −0.053% → −0.016%: −$3.7
Slippage, 4 orders: −$38.68
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$62.38
Costs to cover: 0.587%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 61 min ago; Backpack: live order book, 2 min ago.

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 ApeX Omni live order book, 61 min ago	10.11 bp	19.2 bp −$19	98.7 bp −$987	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	1.16 bp	10.9 bp −$11	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	−0.4634%	1h	0.2985	−1.028%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.3013	−0.084%	$287K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.3016	−0.011%	$17K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0100%	1h	0.3015	−0.021%	$607K	$526K	20x	as long as short
01 Exchange JUPUSD	−0.0056%	1h	0.3014	−0.063%	$27K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0048%	1h	0.3015	−0.020%	$55K	$16K	10x	as long as short
OKX JUP-USDT-SWAP	−0.0026%	4h	0.3011	−0.166%	$4.1M	$15.7M	50x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3016	+0.011%	$1K	—	150x	as long as short
dYdX JUP-USD	+0.0047%	1h	0.3015	−0.018%	$39K	$31K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.3012	−0.123%	—	—	20x	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	+0.0080%	8h	0.3014	−0.069%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.3016	+0.010%	$755K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3015	−0.033%	$32K	$45K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.3013	−0.108%	$625K	$625K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.3018	+0.080%	$19.4M	$11.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3017	+0.037%	$116K	$328K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3013	−0.099%	$16.6M	$48.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.3012	−0.133%	$16.5M	$20.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.3001	−0.497%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3015	−0.033%	$758K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3013	−0.099%	$7.9M	$7.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3015	−0.033%	$4.1M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3013	−0.099%	$5.9M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3013	−0.099%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERPshort	+0.0100%	1h	0.3014	−0.053%	$997K	$230K	10x
Variational Omni JUP	+0.0100%	4h	0.3009	−0.231%	$728K	$771K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.3017	+0.033%	$1.7M	$3.8M	10x	as long as short
ApeX Omni JUPUSDTlong	+0.0100%	1h	0.3016	long leg	$160K	$308K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.3018	+0.050%	$95K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.3015	−0.033%	$114K	$54K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3023	+0.232%	$3.0M	$3.7M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.3012	−0.130%	$2.2M	$490K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.3014	−0.066%	$41K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.3019	+0.103%	$98K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3019	+0.090%	$75K	$61K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.3024	+0.265%	$856K	$359K	50x	as long as short