Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0158%/8h= +17.3% APRnext payment +$0.20 per $10,000 · paid last 24h —

Price spread now: Reya against Kraken Futures+0.158%48s7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Reya is 0.158% dearer against Kraken Futures than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	Kraken Futures PF_JUPUSD	0.2985	−0.0101	get 0.0013% / 1h	51m 28s	$601K	$548K	20x
Short	Reya JUPRUSDPERP	0.2990	0.0057	get 0.0007% / 1h	51m 28s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpOrdersPrice spread, now +0.158%Rate

Funding earned: $33.19
Price spread: +0.158% → 0.000%: $15.79
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $32.97
Costs to cover: 0.160%
Break-even: 0.0 days

Slippage unknown: Kraken Futures: live order book, 22 min ago; Reya: 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 Kraken Futures live order book, 22 min ago	11.77 bp	18.6 bp −$19	100.7 bp −$1,007	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.4634%	1h	0.2959	−0.882%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.2989	+0.123%	$285K	$158K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2994	+0.278%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSDlong	−0.0101%	1h	0.2985	long leg	$601K	$548K	20x
Gate JUP_USDT	−0.0066%	4h	0.2989	+0.123%	$744K	$1.5M	75x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2986	+0.016%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2992	+0.238%	$17K	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0036%	4h	0.2983	−0.078%	$4.1M	$16.1M	50x	as long as short
Bybit JUPUSDT	+0.0055%	4h	0.2987	+0.056%	$16.3M	$21.6M	50x	as long as short
01 Exchange JUPUSD	+0.0056%	1h	0.2994	+0.297%	$26K	$19K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0057%	4h	0.2989	+0.124%	$724K	$776K	—	as long as short
Reya JUPRUSDPERPshort	+0.0057%	1h	0.2990	+0.158%	—	—	20x
dYdX JUP-USD	+0.0061%	1h	0.2989	+0.139%	$39K	$32K	5x	as long as short
Paradex JUP-USD-PERP	+0.0085%	8h	0.2992	+0.229%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2990	+0.160%	$798K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2987	+0.056%	$31K	$47K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2991	+0.182%	$620K	$643K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2995	+0.331%	$19.2M	$12.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2991	+0.190%	$116K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2991	+0.190%	$16.5M	$51.2M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2979	−0.212%	$62K	$9K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2991	+0.190%	$8.1M	$7.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2991	+0.190%	$4.2M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2988	+0.089%	$5.8M	$7.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2990	+0.156%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2984	−0.031%	$988K	$232K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2992	+0.223%	$1.7M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2991	+0.190%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2998	+0.424%	$95K	$119K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2981	−0.145%	$112K	$62K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2988	+0.089%	$2.9M	$3.8M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2984	−0.061%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0108%	4h	0.2991	+0.190%	$844K	$310K	50x	as long as short
Extended JUP-USD	+0.0112%	1h	0.2989	+0.135%	$2.2M	$494K	25x	as long as short
Phoenix JUP	+0.0214%	1h	0.2987	+0.063%	$97K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2996	+0.364%	$75K	$88K	50x	as long as short