Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.5100%/8h= −558.5% APRpaid last 24h −0.653%

Price spread now: Injective against KuCoin−1.659%85s7-day average −2.095% · you buy dearer than you sell

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.392%−$239 on $10k

Price spread, last 3 days (all we have)+1.253%+$125 · spread now −1.659%, 7d avg −2.095%

Together, before fees−1.139%−$114 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.436% dearer against KuCoin than usual: you sell high and buy low (spread −1.659% now, against its 7-day average of −2.095%): +$44 on $10k if it goes back. Holding the pair costs −$153 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−2.392% in total) that is about 31 hours. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.392% in total (about -124.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin JUPUSDTM	0.2953	0.0100	pay 0.0050% / 4h	1h 55m	$4.0M	$6.7M	50x
Short	Injective JUP/USDC PERP	0.2904	−0.5000	pay 0.0625% / 1h	55m 47s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −1.659%Rate

Funding earned: −$1,071
Price spread: −1.659% → −2.095%: $43.62
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,039.4
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 2 min ago; Injective: live order book, 8 min ago. 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 KuCoin live order book, 2 min ago	3.41 bp	46.0 bp −$46	187.6 bp −$1,876	doesn't fit	doesn't fit
Sell Injective live order book, 8 min ago	78.26 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

JUP on 35 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 PERPshort	−0.5000%	1h	0.2904	−1.659%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2956	+0.101%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2951	−0.056%	$281K	$147K	10x	as long as short
Bybit JUPUSDT	−0.0038%	4h	0.2945	−0.284%	$15.8M	$19.4M	50x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2947	−0.186%	$38K	$27K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	+0.119%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2955	+0.080%	—	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0004%	4h	0.2946	−0.237%	$4.1M	$12.7M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2955	+0.051%	—	—	20x	as long as short
Backpack JUP_USDC_PERP	+0.0072%	1h	0.2954	+0.030%	$981K	$224K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0072%	1h	0.2956	+0.108%	$26K	$19K	5x	as long as short
Variational Omni JUP	+0.0077%	4h	0.2954	+0.034%	$717K	$718K	—	as long as short
Paradex JUP-USD-PERP	+0.0095%	8h	0.2955	+0.073%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2949	−0.146%	$780K	$1.1M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2954	+0.051%	$597K	$510K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2952	−0.044%	$18.7M	$10.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2952	−0.033%	$114K	$308K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2948	−0.165%	$16.2M	$43.8M	75x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2952	−0.034%	$733K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2952	−0.034%	$7.4M	$6.5M	200x	as long as short
KuCoin JUPUSDTMlong	+0.0100%	4h	0.2953	long leg	$4.0M	$6.7M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2951	−0.068%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2950	−0.102%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2945	−0.270%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2944	−0.305%	$156K	$274K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	+0.220%	$93K	$108K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2956	+0.102%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.237%	$111K	$46K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2957	+0.135%	$2.9M	$3.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2951	−0.067%	$61K	$8K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2957	+0.146%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2950	−0.095%	$97K	$328K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0200%	1h	0.2956	+0.097%	$590K	$498K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2937	−0.532%	$74K	$49K	50x	as long as short
Extended JUP-USD	+0.0384%	1h	0.2950	−0.117%	$2.2M	$490K	25x	as long as short