Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Variational Omni against Bybit−0.489%7-day average +0.027% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.582%+$58 · spread now −0.489%, 7d avg +0.027%

Together, before fees+0.586%+ Points / potential airdropVariational Omni: Active · farm board+$59 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.516% cheaper against Bybit than usual: you would sell low and buy high, −$52 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JUPUSDT	0.2923	0.0100	pay 0.0050% / 4h	2h 16m	$15.8M	$17.9M	50x
Short	Variational Omni JUP	0.2909	0.0100	get 0.0050% / 4h	2h 16m	$706K	$626K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.489%Rate

Funding earned: $0
Price spread: −0.489% → +0.027%: −$51.63
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$62.63
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 47 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 Bybit live order book, 2 min ago	1.71 bp	12.7 bp −$13	33.3 bp −$333	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 47 min ago	6.78 bp	doesn't fit	40.7 bp −$407	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	−0.4499%	1h	0.2882	−1.413%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2924	+0.039%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2929	+0.194%	$279K	$141K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2926	+0.079%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2926	+0.085%	—	—	150x	as long as short
dYdX JUP-USD	+0.0010%	1h	0.2929	+0.211%	$39K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2927	+0.111%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2927	+0.113%	$760K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2930	+0.219%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2929	+0.186%	$580K	$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	0.2926	+0.089%	$18.1M	$9.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2926	+0.101%	$107K	$281K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2925	+0.048%	$16.1M	$39.8M	75x	as long as short
Bybit JUPUSDTlong	+0.0100%	4h	0.2923	long leg	$15.8M	$17.9M	50x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2925	+0.058%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2899	−0.831%	$60K	$280	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2924	+0.024%	$718K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2924	+0.024%	$6.7M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2926	+0.092%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2925	+0.058%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2925	+0.058%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2925	+0.051%	$966K	$192K	10x	as long as short
Variational Omni JUPshort	+0.0100%	4h	0.2909	−0.489%	$706K	$626K	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2929	+0.195%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2926	+0.092%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2930	+0.226%	$92K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2924	+0.024%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2916	−0.250%	$110K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2926	+0.077%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2931	+0.270%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0144%	1h	0.2924	+0.015%	$2.2M	$556K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0258%	1h	0.2927	+0.116%	$577K	$463K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2905	−0.619%	$97K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2933	+0.345%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2927	+0.127%	$817K	$376K	50x	as long as short
Phemex JUPUSDT	+0.0562%	4h	0.2930	+0.229%	$2.9M	$3.1M	50x	as long as short