Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.4839%/8h= −529.9% APRpaid last 24h −0.930%

Price spread now: Injective against BloFin−0.411%7-day average −2.181% · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.045%−$304 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now −0.411%, 7d avg −2.181%

Together, before fees−3.365%−$336 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.770% dearer against BloFin than usual: you sell high and buy low (spread −0.411% now, against its 7-day average of −2.181%): +$177 on $10k if it goes back. Holding the pair costs −$145 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−3.045% 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 -3.045% in total (about -158.8% 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	BloFin JUP-USDT	0.2922	0.0340	pay 0.0170% / 4h	2h 35m	$833K	$377K	50x
Short	Injective JUP/USDC PERP	0.2910	−0.4499	pay 0.0562% / 1h	35m 20s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −0.411%Rate

Funding earned: −$1,016.2
Price spread: −0.411% → −2.181%: $177.04
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$851.18
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 56 min ago; Injective: live order book, 14 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 BloFin live order book, 56 min ago	1.68 bp	7.7 bp −$8	13.9 bp −$139	126.3 bp −$12.6K	doesn't fit
Sell Injective live order book, 14 min ago	67.91 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	−0.4499%	1h	0.2910	−0.411%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2924	+0.072%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2926	+0.121%	$279K	$145K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2925	+0.116%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2925	+0.114%	—	—	150x	as long as short
dYdX JUP-USD	+0.0017%	1h	0.2926	+0.121%	$39K	$20K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2924	+0.070%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2927	+0.171%	$772K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2926	+0.134%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2924	+0.060%	$579K	$493K	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	0.2927	+0.171%	$18.4M	$8.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2926	+0.127%	$108K	$270K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2924	+0.066%	$16.0M	$39.3M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2922	+0.014%	$15.7M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2923	+0.034%	$4.0M	$10.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2938	+0.548%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2925	+0.103%	$720K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2925	+0.103%	$7.1M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2926	+0.137%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2926	+0.137%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2924	+0.068%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2921	−0.027%	$966K	$189K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2917	−0.169%	$712K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2919	−0.093%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2917	−0.171%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2927	+0.161%	$92K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2925	+0.103%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2913	−0.308%	$109K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2929	+0.240%	$2.9M	$3.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2923	+0.041%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2925	+0.106%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0192%	1h	0.2924	+0.076%	$2.2M	$510K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0258%	1h	0.2926	+0.152%	$581K	$458K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2921	−0.038%	$98K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2968	+1.567%	$75K	$49K	50x	as long as short
BloFin JUP-USDTlong	+0.0340%	4h	0.2922	long leg	$833K	$377K	50x