Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0718%/8h= −78.7% APRpaid last 24h −0.102%

Price spread now: GMX against BingX+0.030%7-day average — · you sell dearer than you buy

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. GMX is 0.030% dearer against BingX than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.2951	0.0100	pay 0.0050% / 4h	2h 54m	—	$20.7M	—
Short	GMX JUP/USD [WBTC.b-USDC]	0.2952	L −0.0275% / S +0.0618%	pay 0.0077% / 1h	54m 17s	$16K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$150.85
Price spread: +0.030% → 0.000%: $3.05
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$169.8
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 4 min ago; GMX: 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, 4 min ago	1.70 bp	7.7 bp −$8	10.7 bp −$107	22.7 bp −$2,273	111.2 bp −$55.6K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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 PERP	−0.4499%	1h	0.2910	−1.389%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0275% / S +0.0618%	1h	0.2952	+0.030%	$16K	—	100x
Pacifica JUP	−0.0230%	1h	0.2953	+0.070%	$281K	$146K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2952	+0.051%	$39K	$21K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2953	+0.054%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2952	+0.042%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2950	−0.025%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2956	+0.159%	$779K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2953	+0.056%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2950	−0.017%	$595K	$489K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2954	+0.112%	$18.6M	$8.8M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2953	+0.071%	$110K	$270K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2951	−0.003%	$16.2M	$39.4M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2948	−0.105%	$15.8M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2951	0.000%	$4.1M	$11.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2947	−0.136%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2952	+0.034%	$733K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2951	0.000%	$7.3M	$6.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2952	+0.034%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2951	0.000%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2951	long leg	—	$20.7M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2954	+0.115%	$978K	$188K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2952	+0.033%	$721K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	+0.324%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2959	+0.271%	$163K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2955	+0.152%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2952	+0.034%	$30K	$26K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.203%	$111K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2957	+0.203%	$2.9M	$3.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.051%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0176%	1h	0.2950	−0.027%	$2.2M	$508K	25x	as long as short
01 Exchange JUPUSD	+0.0192%	1h	0.2953	+0.075%	$26K	$15K	5x	as long as short
Phoenix JUP	+0.0216%	1h	0.2954	+0.108%	$98K	$280K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0256%	1h	0.2955	+0.152%	$587K	$470K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2968	+0.569%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2957	+0.203%	$838K	$379K	50x	as long as short