Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0204%/8h= −22.4% APRpaid last 24h −0.058%

Price spread now: GMX against Bybit+0.080%51s7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.080% dearer against Bybit than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 31 hours. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JUPUSDT	0.2958	−0.0129	get 0.0065% / 4h	2h 10m	$16.2M	$24.0M	50x
Short	GMX JUP/USD [WBTC.b-USDC]	0.2960	L −0.0892% / S +0.0333%	pay 0.0042% / 1h	10m 32s	$13K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$42.92
Price spread: +0.080% → 0.000%: $7.98
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$57.94
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 8 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 Bybit live order book, 8 min ago	1.68 bp	14.1 bp −$14	39.8 bp −$398	doesn't fit	doesn't fit
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	−0.5000%	1h	0.2934	−0.811%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0892% / S +0.0333%	1h	0.2960	+0.080%	$13K	—	100x
Deribit JUP_USDC-PERPETUAL	−0.0358%	1h	0.2960	+0.054%	$56K	$14K	10x	as long as short
Bybit JUPUSDTlong	−0.0129%	4h	0.2958	long leg	$16.2M	$24.0M	50x
Gate JUP_USDT	−0.0010%	4h	0.2958	0.000%	$736K	$2.0M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2977	+0.625%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2961	+0.090%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0008%	1h	0.2961	+0.105%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2960	+0.064%	$600K	$624K	20x	as long as short
dYdX JUP-USD	+0.0024%	1h	0.2961	+0.093%	$39K	$36K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2957	−0.022%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0086%	8h	0.2961	+0.114%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2964	+0.220%	$837K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2960	+0.085%	$597K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2966	+0.267%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2963	+0.160%	$106K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2962	+0.123%	$282K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2961	+0.115%	$16.4M	$56.2M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2962	+0.135%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2962	+0.135%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2962	+0.135%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2960	+0.068%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2961	+0.101%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2960	+0.068%	$980K	$266K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2971	+0.452%	$727K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	+0.101%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2972	+0.473%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2965	+0.233%	$93K	$139K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2960	+0.068%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2951	−0.237%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2965	+0.237%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	−0.017%	$57K	$3K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2956	−0.076%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0118%	4h	0.2956	−0.068%	$856K	$332K	50x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2960	+0.073%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+1.065%	$74K	$95K	50x	as long as short