Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h +0.044%

Price spread now: Kraken Futures against BingX+0.068%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.647%+$65 on $10k

Price spread, last 3 days (all we have)+0.140%+$14 · spread now +0.068%, 7d avg +0.122%

Together, before fees+0.787%+$79 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.054% cheaper against BingX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.122%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.647%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.3000	0.0100	pay 0.0050% / 4h	3h 34m	—	$21.0M	—
Short	Kraken Futures PF_JUPUSD	0.3002	−0.0101	pay 0.0013% / 1h	34m 37s	$604K	$537K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$42.16
Price spread: +0.068% → +0.122%: −$5.4
Slippage, 4 orders: −$39.59
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$107.16
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Kraken Futures: live order book, 38 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 BingX live order book, 4 min ago	3.33 bp	8.3 bp −$8	13.3 bp −$133	31.6 bp −$3,159	169.9 bp −$85.0K
Sell Kraken Futures live order book, 38 min ago	11.77 bp	24.3 bp −$24	93.5 bp −$935	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 PERP	−0.4634%	1h	0.2959	−1.367%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.3002	+0.052%	$286K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.3001	+0.023%	$17K	—	100x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0116%	1h	0.3001	+0.020%	$55K	$16K	10x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0101%	1h	0.3002	+0.068%	$604K	$537K	20x
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3002	+0.081%	$17K	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0004%	4h	0.2998	−0.067%	$4.1M	$16.0M	50x	as long as short
01 Exchange JUPUSD	+0.0008%	1h	0.3004	+0.130%	$27K	$19K	5x	as long as short
dYdX JUP-USD	+0.0039%	1h	0.3002	+0.052%	$39K	$32K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2998	−0.065%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0083%	8h	0.3000	+0.004%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.3003	+0.107%	$754K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3002	+0.067%	$31K	$46K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.3000	+0.008%	$622K	$631K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.3006	+0.213%	$19.3M	$12.6M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3005	+0.150%	$116K	$334K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3002	+0.054%	$16.5M	$50.2M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2999	−0.030%	$16.4M	$21.1M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3001	+0.033%	$756K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3003	+0.100%	$7.9M	$7.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3004	+0.133%	$4.2M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3004	+0.133%	$5.9M	$7.1M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.3000	long leg	—	$21.0M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3003	+0.093%	$994K	$230K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.3001	+0.034%	$727K	$776K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2993	−0.233%	$1.7M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.3004	+0.133%	$160K	$311K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3004	+0.127%	$95K	$116K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2995	−0.167%	$113K	$56K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3006	+0.200%	$2.9M	$3.8M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2997	−0.100%	$62K	$8K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2999	−0.045%	$2.2M	$492K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2999	−0.017%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0125%	4h	0.3001	+0.033%	$849K	$315K	50x	as long as short
Phoenix JUP	+0.0214%	1h	0.3005	+0.177%	$98K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3003	+0.100%	$75K	$88K	50x	as long as short