Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.010%

Price spread now: Orderly against Lighter−0.068%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.068% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2960	0.0096	pay 0.0012% / 1h	11m 33s	$838K	$1.3M	10x
Short	Orderly PERP_JUP_USDC	0.2958	0.0100	get 0.0050% / 4h	2h 11m	$31K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Lighter. 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 LighterbpFee OrderlybpOrdersPrice spread, now −0.068%Rate

Funding earned: $0.84
Price spread: −0.068% → 0.000%: −$6.76
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$11.92
Costs to cover: 0.060%
Break-even: 106.3 days

Slippage unknown: Lighter: live order book, 5 min ago; Orderly: 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 Lighter live order book, 5 min ago	1.85 bp	12.3 bp −$12	48.6 bp −$486	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.5000%	1h	0.2978	+0.608%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0888% / S +0.0332%	1h	0.2959	−0.019%	$13K	—	100x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0561%	1h	0.2958	−0.054%	$56K	$14K	10x	as long as short
Bybit JUPUSDT	−0.0141%	4h	0.2956	−0.135%	$16.2M	$24.0M	50x	as long as short
Gate JUP_USDT	−0.0020%	4h	0.2954	−0.203%	$735K	$2.0M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2977	+0.557%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2961	+0.025%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0008%	1h	0.2957	−0.108%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2961	+0.045%	$600K	$624K	20x	as long as short
dYdX JUP-USD	+0.0025%	1h	0.2961	+0.026%	$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	0.2955	−0.161%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0086%	8h	0.2957	−0.112%	$9K	$15K	10x	as long as short
Lighter JUPlong	+0.0096%	1h	0.2960	long leg	$838K	$1.3M	10x
BloFin JUP-USDT	+0.0098%	4h	0.2969	+0.304%	$858K	$333K	50x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2956	−0.135%	$596K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2962	+0.061%	$18.9M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2961	+0.018%	$106K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2958	−0.069%	$282K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2958	−0.068%	$16.4M	$56.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2956	−0.135%	$4.1M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2957	−0.101%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2960	0.000%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	−0.101%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2956	−0.135%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2958	−0.057%	$979K	$266K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2971	+0.384%	$727K	$1.2M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2979	+0.626%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2972	+0.405%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2966	+0.189%	$93K	$139K	10x	as long as short
Orderly PERP_JUP_USDCshort	+0.0100%	4h	0.2958	−0.068%	$31K	$51K	10x
HTX JUP-USDT	+0.0100%	4h	0.2951	−0.304%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2964	+0.135%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	−0.084%	$57K	$3K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2955	−0.154%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0224%	1h	0.2955	−0.154%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.997%	$74K	$95K	50x	as long as short