Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h +0.027%

Price spread now: OKX against Deribit−0.175%56s7-day average — · you buy dearer than you sell

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

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.179%+$18 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.175% cheaper against Deribit than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.179%, so the current rate has only just turned against you. The two prices were read 56 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	Deribit JUP_USDC-PERPETUAL	0.2963	0	get 0.0000% / 1h	47m 28s	$54K	$16K	10x
Short	OKX JUP-USDT-SWAP	0.2958	−0.0088	pay 0.0044% / 4h	2h 47m	$4.1M	$14.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$18.54
Price spread: −0.175% → 0.000%: −$17.55
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$53.09
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; OKX: live order book, 1 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 Deribit no order-book sample	—	—	—	—	—
Sell OKX live order book, 1 min ago	3.38 bp	14.6 bp −$15	60.1 bp −$601	doesn't fit	doesn't fit

Deribit: 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	−0.4347%	1h	0.2904	−1.998%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2962	−0.049%	$282K	$149K	10x	as long as short
Bybit JUPUSDT	−0.0332%	4h	0.2959	−0.145%	$15.9M	$20.6M	50x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2962	−0.039%	$16K	—	100x	as long as short
OKX JUP-USDT-SWAPshort	−0.0088%	4h	0.2958	−0.175%	$4.1M	$14.9M	50x
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2964	+0.017%	$596K	$524K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2964	+0.011%	$39K	$31K	5x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.2965	+0.047%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUALlong	0.0000%	1h	0.2963	long leg	$54K	$16K	10x
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2963	+0.002%	—	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0034%	4h	0.2961	−0.074%	$743K	$1.5M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2961	−0.090%	—	—	20x	as long as short
Variational Omni JUP	+0.0060%	4h	0.2949	−0.495%	$715K	$768K	—	as long as short
Paradex JUP-USD-PERP	+0.0084%	8h	0.2963	−0.010%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2964	+0.013%	$784K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2962	−0.040%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2961	−0.083%	$608K	$602K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2964	+0.044%	$18.9M	$11.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2964	+0.040%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2962	−0.045%	$16.3M	$47.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2963	−0.007%	$7.6M	$6.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2964	+0.027%	$4.1M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2962	−0.040%	$5.8M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2962	−0.040%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2964	+0.010%	$981K	$235K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2964	+0.027%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2962	−0.040%	$157K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2969	+0.189%	$93K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2961	−0.074%	$112K	$55K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2962	−0.026%	$62K	$8K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2961	−0.083%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2960	−0.108%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2958	−0.169%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2966	+0.084%	$74K	$58K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2964	+0.027%	$853K	$380K	50x	as long as short
Phemex JUPUSDT	+0.0459%	4h	0.2967	+0.128%	$2.9M	$3.6M	50x	as long as short