Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0181%/8h= −19.8% APRpaid last 24h +0.002%

Price spread now: Bybit against ApeX Omni−0.231%69s7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as 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−$660.658% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 3 days (all we have)+0.015%+$1 · spread now −0.231%, 7d avg −0.081%

Together, before fees+0.006%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bybit is 0.151% cheaper against ApeX Omni than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.081%). Swap the legs. The two prices were read 69 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	0.2981	0.0100	pay 0.0013% / 1h	20m 30s	$158K	$319K	50x
Short	Bybit JUPUSDT	0.2974	−0.0081	pay 0.0041% / 4h	2h 20m	$16.3M	$24.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.231%Rate

Funding earned: −$38.03
Price spread: −0.231% → −0.081%: −$15.05
Slippage, 4 orders: −$44.82
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$118.91
Costs to cover: 0.658%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 2 min ago; Bybit: live order book, 3 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, 2 min ago	6.72 bp	20.4 bp −$20	111.4 bp −$1,114	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	3.36 bp	14.2 bp −$14	37.3 bp −$373	259.4 bp −$25.9K	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	−0.5000%	1h	0.2933	−1.610%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0856% / S +0.0322%	1h	0.2977	−0.129%	$13K	—	100x	as long as short
Bybit JUPUSDTshort	−0.0081%	4h	0.2974	−0.231%	$16.3M	$24.1M	50x
Deribit JUP_USDC-PERPETUAL	−0.0018%	1h	0.2979	−0.074%	$56K	$14K	10x	as long as short
Phoenix JUP	0.0000%	1h	0.2986	+0.178%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2979	−0.078%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2979	−0.052%	$604K	$624K	20x	as long as short
Gate JUP_USDT	+0.0030%	4h	0.2977	−0.134%	$741K	$1.9M	75x	as long as short
dYdX JUP-USD	+0.0030%	1h	0.2980	−0.039%	$39K	$36K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2975	−0.207%	—	—	20x	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	+0.0067%	4h	0.2981	0.000%	$858K	$331K	50x	as long as short
01 Exchange JUPUSD	+0.0072%	1h	0.2978	−0.111%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERP	+0.0093%	8h	0.2975	−0.185%	$9K	$15K	10x	as long as short
Variational Omni JUP	+0.0094%	4h	0.2982	+0.047%	$728K	$1.2M	—	as long as short
Lighter JUP	+0.0096%	1h	0.2979	−0.064%	$869K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2979	−0.067%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2975	−0.201%	$600K	$670K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2980	−0.044%	$19.1M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2979	−0.070%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2976	−0.156%	$284K	$183K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2975	−0.191%	$16.5M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2975	−0.201%	$4.1M	$16.8M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2976	−0.168%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2980	−0.034%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2977	−0.134%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2977	−0.134%	—	$21.0M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2979	−0.067%	$987K	$266K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2982	+0.047%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDTlong	+0.0100%	1h	0.2981	long leg	$158K	$319K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.050%	$94K	$138K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2974	−0.235%	$112K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2984	+0.101%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2982	+0.034%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2977	−0.128%	$41K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.285%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0264%	1h	0.2975	−0.205%	$2.2M	$539K	25x	as long as short