JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0009%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.060%

Price spread now: Phoenix against Kraken Futures+0.098%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$840.839% of the position

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.625%−$63 on $10k

Price spread, last 3 days (all we have)−0.207%−$21 · spread now +0.098%, 7d avg −0.003%

Together, before fees−0.832%−$83 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: Phoenix is 0.101% dearer against Kraken Futures than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2954	0.0009	pay 0.0001% / 1h	3m 16s	$599K	$624K	20x
Short	Phoenix JUP	0.2957	0	get 0.0000% / 1h	3m 16s	$95K	$447K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$1.81
Price spread: +0.098% → −0.003%: $10.15
Slippage, 4 orders: −$66.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$75.52
Costs to cover: 0.839%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 20 min ago; Phoenix: live order book, 19 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, 20 min ago	20.13 bp	28.1 bp −$28	223.8 bp −$2,238	doesn't fit	doesn't fit
Sell Phoenix live order book, 19 min ago	2.51 bp	14.3 bp −$14	29.8 bp −$298	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	−0.5000%	1h	0.2934	−0.667%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0934% / S +0.0347%	1h	0.2953	−0.040%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0161%	4h	0.2953	−0.034%	$16.2M	$24.0M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0156%	1h	0.2953	−0.040%	$56K	$14K	10x	as long as short
Gate JUP_USDT	−0.0052%	4h	0.2949	−0.159%	$733K	$2.0M	75x	as long as short
01 Exchange JUPUSD	−0.0024%	1h	0.2948	−0.179%	$26K	$19K	5x	as long as short
Phoenix JUPshort	0.0000%	1h	0.2957	+0.098%	$95K	$447K	10x
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2954	−0.001%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0009%	1h	0.2954	long leg	$599K	$624K	20x
dYdX JUP-USD	+0.0026%	1h	0.2951	−0.095%	$39K	$36K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2949	−0.155%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0078%	8h	0.2950	−0.117%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2958	+0.129%	$826K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2949	−0.150%	$597K	$671K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	+0.041%	$18.9M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2953	−0.015%	$106K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2950	−0.130%	$281K	$179K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2955	+0.044%	$16.3M	$56.2M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2953	−0.023%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2955	+0.044%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2956	+0.078%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2954	+0.010%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2953	−0.023%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2955	+0.061%	$978K	$263K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2951	−0.079%	$722K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2955	+0.028%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	+0.078%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2954	+0.027%	$93K	$139K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2952	−0.057%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.294%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2957	+0.112%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+0.129%	$57K	$3K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2950	−0.118%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0122%	4h	0.2952	−0.057%	$856K	$337K	50x	as long as short
Extended JUP-USD	+0.0168%	1h	0.2950	−0.129%	$2.2M	$541K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+1.212%	$74K	$94K	50x	as long as short