Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.027%

Price spread now: KuCoin against Kraken Futures−0.040%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$203as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1311.310% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.720%−$72 on $10k

Price spread, last 4 days (all we have)−0.146%−$15 · spread now −0.040%, 7d avg −0.064%

Together, before fees−0.866%−$87 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.023% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.040% now, against its 7-day average of −0.064%): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.720% in total) that is about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2953	0.0256	pay 0.0032% / 1h	3m 22s	$583K	$462K	20x
Short	KuCoin JUPUSDTM	0.2952	0.0100	get 0.0050% / 4h	2h 03m	$4.0M	$6.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$32.7
Price spread: −0.040% → −0.064%: $2.32
Slippage, 4 orders: −$108.98
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$161.36
Costs to cover: 1.310%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 45 min ago; KuCoin: live order book, 5 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 Kraken Futures live order book, 45 min ago	20.33 bp	26.9 bp −$27	129.0 bp −$1,290	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	6.78 bp	35.1 bp −$35	126.4 bp −$1,264	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	0.2905	−1.632%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2950	−0.110%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2951	−0.079%	$281K	$143K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2952	−0.054%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2951	−0.086%	—	—	150x	as long as short
dYdX JUP-USD	+0.0007%	1h	0.2954	+0.044%	$39K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2950	−0.110%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2954	+0.037%	$766K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2950	−0.098%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2951	−0.083%	$581K	$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	0.2952	−0.027%	$18.2M	$9.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2951	−0.065%	$107K	$283K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.108%	$16.2M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2947	−0.210%	$16.0M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2951	−0.074%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2941	−0.405%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2951	−0.074%	$724K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2950	−0.108%	$6.8M	$6.1M	200x	as long as short
KuCoin JUPUSDTMshort	+0.0100%	4h	0.2952	−0.040%	$4.0M	$6.7M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2951	−0.074%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2951	−0.074%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2952	−0.044%	$975K	$192K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2950	−0.109%	$715K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2954	+0.036%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2953	−0.007%	$163K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2952	−0.027%	$93K	$103K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2950	−0.108%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.278%	$111K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2950	−0.108%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2953	−0.017%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0200%	1h	0.2951	−0.087%	$2.2M	$568K	25x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0256%	1h	0.2953	long leg	$583K	$462K	20x
Phoenix JUP	+0.0271%	1h	0.2955	+0.054%	$99K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2955	+0.068%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	−0.074%	$817K	$380K	50x	as long as short
Phemex JUPUSDT	+0.0525%	4h	0.2957	+0.129%	$2.9M	$3.1M	50x	as long as short