Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.032%

Price spread now: Kraken Futures against Binance+0.327%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$730.726% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.698%+$70 on $10k

Price spread, last 3 days (all we have)−0.157%−$16 · spread now +0.327%, 7d avg +0.099%

Together, before fees+0.541%+$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.228% dearer against Binance than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance JUPUSDT	0.2932	0.0100	pay 0.0050% / 4h	1h 57m	$16.2M	$44.1M	75x
Short	Kraken Futures PF_JUPUSD	0.2942	0.0201	get 0.0025% / 1h	57m 41s	$587K	$498K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.327%Rate

Funding earned: $21.28
Price spread: +0.327% → +0.099%: $22.83
Slippage, 4 orders: −$52.57
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$28.46
Costs to cover: 0.726%
Break-even: 16.4 days

Slippage from Binance: live order book, 14 min ago; Kraken Futures: live order book, 5 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 Binance live order book, 14 min ago	1.69 bp	12.3 bp −$12	33.0 bp −$330	294.7 bp −$29.5K	doesn't fit
Sell Kraken Futures live order book, 5 min ago	13.56 bp	25.2 bp −$25	57.6 bp −$576	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	−0.5000%	1h	0.2916	−0.549%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2940	+0.273%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2933	+0.046%	$279K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0090%	1h	0.2940	+0.266%	$54K	$16K	10x	as long as short
Bybit JUPUSDT	−0.0047%	4h	0.2931	−0.038%	$15.7M	$19.4M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0004%	4h	0.2932	−0.004%	$4.0M	$12.7M	50x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2935	+0.082%	$38K	$28K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2940	+0.280%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0021%	1h	0.2938	+0.201%	$975K	$237K	10x	as long as short
01 Exchange JUPUSD	+0.0040%	1h	0.2941	+0.307%	$26K	$19K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2940	+0.262%	—	—	20x	as long as short
Variational Omni JUP	+0.0075%	4h	0.2942	+0.354%	$719K	$720K	—	as long as short
Paradex JUP-USD-PERP	+0.0095%	8h	0.2931	−0.024%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2937	+0.177%	$777K	$1.1M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2942	+0.337%	$595K	$512K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2937	+0.177%	$18.6M	$10.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2936	+0.133%	$113K	$309K	10x	as long as short
Binance JUPUSDTlong	+0.0100%	4h	0.2932	long leg	$16.2M	$44.1M	75x
Gate JUP_USDT	+0.0100%	4h	0.2938	+0.201%	$729K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2933	+0.030%	$7.3M	$6.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2934	+0.064%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2933	+0.030%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2934	+0.064%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+0.644%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	+0.474%	$157K	$275K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2945	+0.457%	$93K	$108K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2940	+0.269%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2936	+0.133%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2943	+0.371%	$2.9M	$3.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2951	+0.644%	$61K	$8K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2941	+0.305%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2950	+0.617%	$97K	$328K	10x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0201%	1h	0.2942	+0.327%	$587K	$498K	20x
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2943	+0.375%	$74K	$49K	50x	as long as short
Extended JUP-USD	+0.0384%	1h	0.2933	+0.024%	$2.2M	$490K	25x	as long as short