Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.052%

Price spread now: BingX against Hyperliquid−0.161%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days+0.120%+$12 · spread now −0.161%, 7d avg −0.097%

Together, before fees+0.117%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 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: BingX is 0.063% cheaper against Hyperliquid than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2959	0.0100	pay 0.0013% / 1h	12m 21s	$19.0M	$13.5M	10x
Short	BingX JUP-USDT	0.2954	0.0100	get 0.0050% / 4h	1h 12m	—	$20.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now −0.161%Rate

Funding earned: $0
Price spread: −0.161% → −0.097%: −$6.32
Slippage, 4 orders: −$20.95
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$46.27
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; BingX: live order book, 6 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 Hyperliquid live order book, 11 min ago	0.68 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	1.69 bp	6.8 bp −$7	11.9 bp −$119	21.1 bp −$2,112	54.5 bp −$27.3K

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	0.2911	−1.614%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2955	−0.141%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2954	−0.154%	$281K	$171K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2954	−0.158%	$598K	$616K	20x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.2954	−0.144%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2955	−0.140%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2956	−0.110%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0010%	4h	0.2953	−0.194%	$745K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	−0.174%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0071%	4h	0.2951	−0.252%	$16.1M	$23.2M	50x	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	0.2953	−0.195%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2957	−0.069%	$794K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2956	−0.101%	$611K	$670K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2959	long leg	$19.0M	$13.5M	10x
Aster JUPUSDT	+0.0100%	4h	0.2955	−0.115%	$106K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2954	−0.155%	$16.3M	$54.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2954	−0.161%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2959	+0.008%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2955	−0.127%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2957	−0.059%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2954	−0.161%	$5.6M	$8.1M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2954	−0.161%	—	$20.9M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2954	−0.144%	$978K	$254K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2952	−0.241%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2957	−0.059%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	−0.093%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	−0.005%	$93K	$131K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	−0.127%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.431%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2960	+0.042%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2951	−0.249%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0129%	1h	0.2957	−0.071%	$39K	$35K	5x	as long as short
BloFin JUP-USDT	+0.0148%	4h	0.2954	−0.161%	$844K	$327K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.035%	$95K	$441K	10x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2951	−0.248%	$2.2M	$503K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2957	−0.046%	$74K	$94K	50x	as long as short