Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0288%/8h= −31.6% APRpaid last 24h +0.073%

Price spread now: Kraken Futures against BloFin+0.119%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$770.774% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.345%+$34 on $10k

Price spread, last 3 days (all we have)+0.063%+$6 · spread now +0.119%, 7d avg +0.101%

Together, before fees+0.408%+$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.101%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.345%, 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	BloFin JUP-USDT	0.2960	0.0113	pay 0.0056% / 4h	1h 05m	$846K	$327K	50x
Short	Kraken Futures PF_JUPUSD	0.2964	−0.0175	pay 0.0022% / 1h	5m 19s	$601K	$618K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.119%Rate

Funding earned: −$60.54
Price spread: +0.119% → +0.101%: $1.77
Slippage, 4 orders: −$55.38
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$136.14
Costs to cover: 0.774%
Break-even: never at this rate

Slippage from BloFin: live order book, 12 min ago; Kraken Futures: live order book, 13 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 BloFin live order book, 12 min ago	8.45 bp	14.5 bp −$14	23.0 bp −$230	124.2 bp −$12.4K	doesn't fit
Sell Kraken Futures live order book, 13 min ago	11.84 bp	21.0 bp −$21	69.6 bp −$696	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	−0.3508%	1h	0.2923	−1.250%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2963	+0.115%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2958	−0.065%	$282K	$169K	10x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0175%	1h	0.2964	+0.119%	$601K	$618K	20x
01 Exchange JUPUSD	−0.0024%	1h	0.2959	−0.020%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2963	+0.115%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2962	+0.083%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0012%	4h	0.2961	+0.034%	$747K	$1.9M	75x	as long as short
Bybit JUPUSDT	+0.0048%	4h	0.2962	+0.068%	$16.2M	$23.2M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2959	−0.022%	—	—	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	+0.0076%	8h	0.2958	−0.054%	$9K	$13K	10x	as long as short
Backpack JUP_USDC_PERP	+0.0083%	1h	0.2963	+0.088%	$980K	$254K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2965	+0.176%	$795K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2957	−0.084%	$612K	$669K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2966	+0.193%	$19.1M	$13.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2962	+0.068%	$107K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2962	+0.076%	$16.3M	$54.1M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2960	0.000%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2953	−0.236%	$57K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2961	+0.034%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2961	+0.034%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2960	0.000%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2961	+0.034%	—	$20.9M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2956	−0.132%	$714K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2958	−0.070%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2958	−0.068%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2964	+0.135%	$93K	$131K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2963	+0.101%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2953	−0.236%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2965	+0.169%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2961	+0.041%	$40K	—	3x	as long as short
BloFin JUP-USDTlong	+0.0113%	4h	0.2960	long leg	$846K	$327K	50x
dYdX JUP-USD	+0.0119%	1h	0.2962	+0.074%	$39K	$35K	5x	as long as short
Phoenix JUP	+0.0190%	1h	0.2962	+0.051%	$95K	$441K	10x	as long as short
Extended JUP-USD	+0.0192%	1h	0.2960	+0.006%	$2.2M	$505K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2963	+0.098%	$74K	$94K	50x	as long as short