Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.048%

Price spread now: Deribit against BingX−0.088%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.251%−$25 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.088% cheaper against BingX than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.2965	0.0100	pay 0.0050% / 4h	2h 24m	—	$20.8M	—
Short	Deribit JUP_USDC-PERPETUAL	0.2962	0	get 0.0000% / 1h	24m 03s	$54K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$21
Price spread: −0.088% → 0.000%: −$8.77
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$46.77
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 9 min ago; Deribit: no order-book sample. 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 BingX live order book, 9 min ago	3.40 bp	8.4 bp −$8	11.4 bp −$114	22.3 bp −$2,227	116.3 bp −$58.2K
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.619%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2965	−0.002%	$282K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2961	−0.123%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0190%	4h	0.2961	−0.135%	$15.9M	$20.1M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0049%	4h	0.2963	−0.067%	$4.1M	$14.2M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2965	−0.016%	$593K	$514K	20x	as long as short
Deribit JUP_USDC-PERPETUALshort	0.0000%	1h	0.2962	−0.088%	$54K	$16K	10x
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2962	−0.093%	—	—	150x	as long as short
dYdX JUP-USD	+0.0015%	1h	0.2966	+0.050%	$39K	$29K	5x	as long as short
Variational Omni JUP	+0.0036%	4h	0.2967	+0.068%	$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	+0.0044%	4h	0.2965	0.000%	$740K	$1.5M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2961	−0.143%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2963	−0.062%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2967	+0.074%	$784K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2963	−0.067%	$31K	$43K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2962	−0.093%	$601K	$536K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2967	+0.059%	$18.9M	$10.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2965	+0.008%	$114K	$321K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2964	−0.034%	$16.4M	$45.8M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2964	−0.034%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2963	−0.067%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2964	−0.034%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2964	−0.034%	$5.8M	$6.5M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2965	long leg	—	$20.8M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2964	−0.030%	$981K	$235K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2962	−0.102%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2954	−0.371%	$157K	$302K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2965	−0.013%	$94K	$109K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2962	−0.101%	$112K	$49K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2961	−0.149%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2965	−0.013%	$26K	$19K	5x	as long as short
Phemex JUPUSDT	+0.0125%	4h	0.2967	+0.067%	$2.9M	$3.5M	50x	as long as short
Phoenix JUP	+0.0188%	1h	0.2970	+0.185%	$98K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2966	+0.024%	$75K	$51K	50x	as long as short
Extended JUP-USD	+0.0392%	1h	0.2962	−0.110%	$2.2M	$485K	25x	as long as short