Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.031%

Price spread now: Hyperliquid against ApeX Omni+0.550%65s7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as 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−$640.639% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.946%−$95 · spread now +0.550%, 7d avg +0.055%

Together, before fees−0.931%+ Points / potential airdropHyperliquid: Season 2 · farm board−$93 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: Hyperliquid is 0.495% dearer against ApeX Omni than usual: you sell high and buy low, +$50 on $10k if it goes back to its 7-day average of +0.055%. The two prices were read 65 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	0.2946	0.0100	pay 0.0013% / 1h	40m 30s	$157K	$274K	50x
Short	Hyperliquid JUP	0.2962	0.0100	get 0.0013% / 1h	40m 30s	$18.8M	$10.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.550%Rate

Funding earned: $0
Price spread: +0.550% → +0.055%: $49.5
Slippage, 4 orders: −$44.92
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$14.42
Costs to cover: 0.639%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 22 min ago; Hyperliquid: 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, 22 min ago	11.88 bp	20.6 bp −$21	112.7 bp −$1,127	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	2.37 bp	12.2 bp −$12	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	−0.5000%	1h	0.2904	−1.426%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2950	+0.136%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2957	+0.373%	$282K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2949	+0.092%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2949	+0.110%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0005%	1h	0.2948	+0.058%	$978K	$231K	10x	as long as short
Bybit JUPUSDT	+0.0013%	4h	0.2959	+0.441%	$15.8M	$19.3M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0030%	4h	0.2961	+0.509%	$4.1M	$12.6M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2958	+0.407%	—	—	20x	as long as short
Variational Omni JUP	+0.0093%	4h	0.2946	−0.003%	$719K	$698K	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter JUP	+0.0096%	1h	0.2953	+0.251%	$781K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0096%	8h	0.2960	+0.464%	$9K	$11K	10x	as long as short
dYdX JUP-USD	+0.0100%	1h	0.2959	+0.455%	$39K	$27K	5x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2958	+0.424%	$599K	$511K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2962	+0.550%	$18.8M	$10.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2952	+0.220%	$114K	$298K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2959	+0.451%	$16.3M	$43.5M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2939	−0.250%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2958	+0.407%	$739K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	+0.441%	$7.5M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2949	+0.102%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2961	+0.509%	$5.8M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2961	+0.509%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	+0.114%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDTlong	+0.0100%	1h	0.2946	long leg	$157K	$274K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2963	+0.591%	$94K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2948	+0.068%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2943	−0.102%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2950	+0.136%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2945	−0.017%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2962	+0.557%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0201%	1h	0.2948	+0.082%	$589K	$496K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2950	+0.139%	$74K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2937	−0.312%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	+0.170%	$841K	$370K	50x	as long as short
Extended JUP-USD	+0.0352%	1h	0.2959	+0.430%	$2.2M	$492K	25x	as long as short