Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h −0.011%

Price spread now: BloFin against Hyperliquid−0.774%107s7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.364% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.303%+$30 on $10k

Price spread, last 4 days (all we have)+0.718%+$72 · spread now −0.774%, 7d avg −0.114%

Together, before fees+1.021%+ Points / potential airdropHyperliquid: Season 2 · farm board+$102 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.660% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.774% now, against its 7-day average of −0.114%). If the spread goes back, that is −$66 on $10k: about 9.2 days of funding at the current rate (+$7 a day). The two prices were read 107 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	Hyperliquid JUP	0.2933	0.0100	pay 0.0013% / 1h	19m 23s	$18.1M	$9.0M	10x
Short	BloFin JUP-USDT	0.2910	0.0340	get 0.0170% / 4h	2h 19m	$819K	$374K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.774%Rate

Funding earned: $50.4
Price spread: −0.774% → −0.114%: −$66.01
Slippage, 4 orders: −$15.4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$52.01
Costs to cover: 0.364%
Break-even: 14.2 days

Slippage from Hyperliquid: live order book, 4 min ago; BloFin: live order book, 7 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, 4 min ago	0.69 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	3.45 bp	11.3 bp −$11	27.8 bp −$278	92.8 bp −$9,282	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	0.2868	−2.206%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2930	−0.104%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2929	−0.120%	$279K	$141K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2929	−0.121%	—	—	150x	as long as short
dYdX JUP-USD	+0.0010%	1h	0.2929	−0.110%	$39K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2931	−0.049%	—	—	20x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0092%	1h	0.2929	−0.116%	$53K	$17K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2931	−0.055%	$761K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2929	−0.111%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2931	−0.058%	$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 JUPlong	+0.0100%	1h	0.2933	long leg	$18.1M	$9.0M	10x
Aster JUPUSDT	+0.0100%	4h	0.2930	−0.084%	$107K	$281K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2929	−0.137%	$16.1M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2928	−0.160%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2932	−0.024%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2899	−1.149%	$60K	$280	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2927	−0.194%	$718K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2931	−0.058%	$6.8M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2930	−0.092%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2929	−0.126%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2928	−0.160%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2928	−0.170%	$964K	$191K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2909	−0.808%	$706K	$626K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2896	−1.258%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2892	−1.388%	$159K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2933	+0.014%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2929	−0.126%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2914	−0.638%	$109K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2933	+0.016%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2932	−0.014%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0144%	1h	0.2927	−0.195%	$2.2M	$556K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0258%	1h	0.2929	−0.127%	$578K	$463K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2905	−0.938%	$97K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2933	+0.024%	$74K	$49K	50x	as long as short
BloFin JUP-USDTshort	+0.0340%	4h	0.2910	−0.774%	$819K	$374K	50x
Phemex JUPUSDT	+0.0414%	4h	0.2926	−0.228%	$2.9M	$3.1M	50x	as long as short