Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.3608%/8h= −395.1% APRpaid last 24h −0.495%

Price spread now: Injective against Binance−0.796%7-day average −2.126% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.252%−$225 on $10k

Price spread, last 3 days (all we have)+0.222%+$22 · spread now −0.796%, 7d avg −2.126%

Together, before fees−2.030%−$203 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.330% dearer against Binance than usual: you sell high and buy low (spread −0.796% now, against its 7-day average of −2.126%): +$133 on $10k if it goes back. Holding the pair costs −$108 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−2.252% in total) that is about 4.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.252% in total (about -117.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance JUPUSDT	0.2941	0.0100	pay 0.0050% / 4h	1h 30m	$16.2M	$55.7M	75x
Short	Injective JUP/USDC PERP	0.2918	−0.3508	pay 0.0439% / 1h	30m 48s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee InjectivebpOrdersPrice spread, now −0.796%Rate

Funding earned: −$757.69
Price spread: −0.796% → −2.126%: $133.03
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$634.68
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 11 min ago; Injective: live order book, 53 min ago. Net counts fees only.

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 Binance live order book, 11 min ago	1.69 bp	12.1 bp −$12	28.0 bp −$280	320.9 bp −$32.1K	doesn't fit
Sell Injective live order book, 53 min ago	70.66 bp	doesn't fit	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 PERPshort	−0.3508%	1h	0.2918	−0.796%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2945	+0.110%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2941	−0.011%	$280K	$172K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0177%	1h	0.2943	+0.055%	$598K	$619K	20x	as long as short
01 Exchange JUPUSD	−0.0096%	1h	0.2943	+0.044%	$26K	$19K	5x	as long as short
Gate JUP_USDT	−0.0030%	4h	0.2940	−0.048%	$735K	$1.9M	75x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2943	+0.064%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2944	+0.073%	$17K	—	150x	as long as short
Bybit JUPUSDT	+0.0023%	4h	0.2938	−0.116%	$16.1M	$23.7M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2941	−0.026%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0057%	1h	0.2943	+0.040%	$38K	$35K	5x	as long as short
Paradex JUP-USD-PERP	+0.0064%	8h	0.2941	−0.010%	$9K	$14K	10x	as long as short
BloFin JUP-USDT	+0.0087%	4h	0.2939	−0.082%	$843K	$326K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2944	+0.075%	$789K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2940	−0.056%	$610K	$673K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2946	+0.164%	$18.9M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2943	+0.054%	$106K	$365K	10x	as long as short
Binance JUPUSDTlong	+0.0100%	4h	0.2941	long leg	$16.2M	$55.7M	75x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2940	−0.048%	$4.0M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2941	−0.014%	$8.0M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2943	+0.054%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2941	−0.014%	$5.6M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2940	−0.048%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2943	+0.051%	$974K	$259K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2943	+0.060%	$712K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2947	+0.177%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	+0.156%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2946	+0.153%	$93K	$134K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2943	+0.054%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2935	−0.218%	$110K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2945	+0.122%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+0.530%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2940	−0.039%	$2.2M	$541K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2944	+0.077%	$40K	—	3x	as long as short
Phoenix JUP	+0.0190%	1h	0.2950	+0.279%	$94K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.635%	$74K	$93K	50x	as long as short