Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Nado against Backpack−0.274%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Backpack Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+1.799%+$180 · spread now −0.274%, 7d avg −0.049%

Together, before fees+1.808%+ Points / potential airdropNado: Active · farm board+$181 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: Nado is 0.225% cheaper against Backpack than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2973	0.0100	pay 0.0013% / 1h	25m 16s	$984K	$235K	10x
Short	Nado JUP-PERP	0.2965	0.0100	get 0.0012% / 1h	25m 16s	$602K	$539K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.274%Rate

Funding earned: $0
Price spread: −0.274% → −0.049%: −$22.54
Slippage, 4 orders: −$18.84
Fee Backpack: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$58.38
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from Backpack: live order book, 44 min ago; Nado: live order book, 43 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, 44 min ago	1.66 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 43 min ago	1.99 bp	8.7 bp −$9	36.9 bp −$369	doesn't fit	doesn't fit

JUP on 35 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	−0.4347%	1h	0.2917	−1.880%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2964	−0.310%	$282K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2967	−0.205%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0191%	4h	0.2964	−0.283%	$15.9M	$20.1M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0045%	4h	0.2965	−0.266%	$4.1M	$14.2M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2966	−0.220%	$594K	$518K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2967	−0.205%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2967	−0.207%	—	—	150x	as long as short
dYdX JUP-USD	+0.0015%	1h	0.2966	−0.215%	$39K	$29K	5x	as long as short
Variational Omni JUP	+0.0036%	4h	0.2967	−0.198%	$724K	$751K	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0040%	4h	0.2967	−0.198%	$736K	$1.5M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2965	−0.256%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2965	−0.277%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2968	−0.151%	$784K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2967	−0.198%	$31K	$43K	10x	as long as short
Nado JUP-PERPshort	+0.0100%	1h	0.2965	−0.274%	$602K	$539K	10x
Hyperliquid JUP	+0.0100%	1h	0.2968	−0.151%	$18.9M	$11.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2967	−0.198%	$114K	$321K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2967	−0.198%	$16.4M	$45.9M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2964	−0.299%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2966	−0.232%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2966	−0.232%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2968	−0.165%	$5.8M	$6.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2967	−0.198%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2973	long leg	$984K	$235K	10x
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2962	−0.368%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2954	−0.636%	$157K	$302K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2968	−0.158%	$94K	$109K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2957	−0.535%	$112K	$49K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2964	−0.294%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0112%	1h	0.2968	−0.178%	$26K	$19K	5x	as long as short
Phemex JUPUSDT	+0.0149%	4h	0.2971	−0.064%	$2.9M	$3.5M	50x	as long as short
Phoenix JUP	+0.0188%	1h	0.2970	−0.081%	$98K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2967	−0.195%	$75K	$51K	50x	as long as short
Extended JUP-USD	+0.0384%	1h	0.2965	−0.276%	$2.2M	$484K	25x	as long as short