JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0437%/8h= +47.8% APRnext payment +$0.55 per $10,000 · paid last 24h +0.047%

Price spread now: Kraken Futures against Backpack+0.036%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$680.676% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.634%+$63 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now +0.036%, 7d avg +0.067%

Together, before fees+0.797%+$80 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.030% cheaper against Backpack than usual: you would sell low and buy high (spread +0.036% now, against its 7-day average of +0.067%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2891	0.0100	pay 0.0013% / 1h	30m 01s	$974K	$238K	10x
Short	Kraken Futures PF_JUPUSD	0.2892	0.0537	get 0.0067% / 1h	30m 01s	$570K	$398K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Backpack. 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 BackpackbpFee Kraken FuturesbpOrdersPrice spread, now +0.036%Rate

Funding earned: $91.74
Price spread: +0.036% → +0.067%: −$3.04
Slippage, 4 orders: −$47.64
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $21.06
Costs to cover: 0.676%
Break-even: 5.4 days

Slippage from Backpack: live order book, 17 min ago; Kraken Futures: live order book, 16 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 Backpack live order book, 17 min ago	0.17 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 16 min ago	15.40 bp	25.1 bp −$25	77.0 bp −$770	doesn't fit	doesn't fit

JUP on 36 exchanges

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
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2891	−0.019%	$16K	—	100x	as long as short
Pacifica JUP	−0.0134%	1h	0.2889	−0.076%	$275K	$134K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2892	+0.010%	$53K	$9K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.2890	−0.038%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0008%	1h	0.2889	−0.073%	$26K	$2K	5x	as long as short
BloFin JUP-USDT	+0.0041%	4h	0.2885	−0.214%	$811K	$363K	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2888	−0.100%	—	—	20x	as long as short
ApeX Omni JUPUSDT	+0.0067%	1h	0.2906	+0.512%	$158K	$234K	50x	as long as short
Paradex JUP-USD-PERP	+0.0089%	8h	0.2888	−0.120%	$9K	$9K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2891	+0.007%	$746K	$953K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2889	−0.067%	$567K	$469K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2892	+0.014%	$17.5M	$8.6M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2890	−0.042%	$97K	$277K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2889	−0.076%	$15.7M	$36.6M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2888	−0.111%	$15.7M	$16.2M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2888	−0.111%	$3.9M	$9.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2916	+0.858%	$60K	$439	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2890	−0.042%	$715K	$1.0M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2890	−0.042%	$8.1M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2891	−0.007%	$4.0M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2891	−0.007%	$5.7M	$4.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2890	−0.042%	—	$21.2M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2891	long leg	$974K	$238K	10x
Variational Omni JUP	+0.0100%	4h	0.2886	−0.186%	$696K	$249K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2890	−0.041%	$1.6M	$4.0M	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2894	+0.097%	$91K	$106K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2891	−0.007%	$33K	$28K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2886	−0.180%	$109K	$55K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2888	−0.108%	$2.1M	$556K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2889	−0.059%	$39K	—	3x	as long as short
Phoenix JUP	+0.0270%	1h	0.2889	−0.066%	$96K	$269K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2913	+0.764%	$80K	$61K	50x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0537%	1h	0.2892	+0.036%	$570K	$398K	20x
Phemex JUPUSDT	+0.0543%	4h	0.2897	+0.201%	$2.9M	$2.8M	50x	as long as short
dYdX JUP-USD	+0.0853%	1h	0.2889	−0.066%	$38K	$10K	5x	as long as short
Injective JUP/USDC PERP	+0.4474%	1h	0.3020	+4.455%	$3K	$205K	5.5x	as long as short