Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.4% APRpaid last 24h −0.047%

Price spread now: Paradex against Hyperliquid−0.143%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Paradex is 0.143% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2981	0.0149	pay 0.0019% / 1h	52m 08s	$19.2M	$13.2M	10x
Short	Paradex JUP-USD-PERP	0.2976	0.0081	get 0.0081% / 8h	52m 08s	$9K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.143%Rate

Funding earned: −$14.11
Price spread: −0.143% → 0.000%: −$14.26
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$41.37
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; Paradex: 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 Hyperliquid live order book, 11 min ago	0.34 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.4371%	1h	0.2935	−1.530%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2976	−0.164%	$15K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2976	−0.161%	$602K	$618K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2979	−0.037%	$284K	$169K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2976	−0.164%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2977	−0.122%	$17K	—	150x	as long as short
BloFin JUP-USDT	+0.0052%	4h	0.2983	+0.081%	$848K	$330K	50x	as long as short
Gate JUP_USDT	+0.0056%	4h	0.2976	−0.154%	$748K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2973	−0.243%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0057%	4h	0.2974	−0.235%	$16.3M	$23.0M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0064%	1h	0.2978	−0.077%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERPshort	+0.0081%	8h	0.2976	−0.143%	$9K	$13K	10x
Lighter JUP	+0.0096%	1h	0.2978	−0.097%	$800K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2975	−0.188%	$614K	$664K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2978	−0.094%	$108K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2974	−0.208%	$16.4M	$53.9M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2974	−0.221%	$4.0M	$16.4M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2976	−0.154%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2979	−0.054%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2976	−0.154%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2976	−0.154%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2977	−0.138%	$985K	$246K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2972	−0.285%	$718K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2977	−0.123%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2974	−0.221%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.087%	$94K	$129K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2976	−0.154%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2972	−0.289%	$112K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2981	+0.013%	$2.9M	$4.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2966	−0.490%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2973	−0.272%	$41K	—	3x	as long as short
dYdX JUP-USD	+0.0126%	1h	0.2981	+0.029%	$39K	$34K	5x	as long as short
Hyperliquid JUPlong	+0.0149%	1h	0.2981	long leg	$19.2M	$13.2M	10x
Phoenix JUP	+0.0162%	1h	0.2973	−0.248%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0216%	1h	0.2972	−0.283%	$2.2M	$506K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2979	−0.050%	$74K	$95K	50x	as long as short