Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.005%

Price spread now: Phemex against Lighter−0.003%7-day average +0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$600.605% of the position

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)+0.219%+$22 · spread now −0.003%, 7d avg +0.071%

Together, before fees+0.235%+ Points / potential airdropLighter: Season 3 · farm board+$23 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: Phemex is 0.074% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2969	0.0096	pay 0.0012% / 1h	8m 46s	$784K	$1.1M	10x
Short	Phemex JUPUSDT	0.2969	0.0100	get 0.0050% / 4h	1h 08m	$2.9M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.003%Rate

Funding earned: $0.84
Price spread: −0.003% → +0.071%: −$7.43
Slippage, 4 orders: −$48.48
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$67.06
Costs to cover: 0.605%
Break-even: 565.9 days

Slippage from Lighter: live order book, 2 min ago; Phemex: 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 Lighter live order book, 2 min ago	2.18 bp	10.4 bp −$10	48.8 bp −$488	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	6.71 bp	21.7 bp −$22	76.2 bp −$762	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	0.2941	−0.946%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2965	−0.150%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2966	−0.115%	$283K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2966	−0.111%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2965	−0.147%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2962	−0.225%	—	—	20x	as long as short
Lighter JUPlong	+0.0096%	1h	0.2969	long leg	$784K	$1.1M	10x
Paradex JUP-USD-PERP	+0.0098%	8h	0.2965	−0.137%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2965	−0.130%	$599K	$503K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2969	−0.010%	$18.8M	$9.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JUPUSDT	+0.0100%	4h	0.2966	−0.097%	$115K	$288K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2965	−0.138%	$16.3M	$42.6M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2964	−0.172%	$15.9M	$19.0M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2964	−0.172%	$4.1M	$12.3M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2977	+0.266%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2964	−0.172%	$741K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2964	−0.172%	$7.4M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2964	−0.172%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2964	−0.172%	$5.8M	$5.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2963	−0.205%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2964	−0.165%	$983K	$249K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2967	−0.073%	$724K	$694K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2975	+0.188%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2975	+0.199%	$158K	$266K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2966	−0.091%	$94K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2964	−0.172%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2964	−0.172%	$111K	$49K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2969	−0.003%	$2.9M	$3.3M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2964	−0.172%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0116%	1h	0.2965	−0.130%	$39K	$26K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0200%	1h	0.2966	−0.105%	$593K	$488K	20x	as long as short
01 Exchange JUPUSD	+0.0208%	1h	0.2968	−0.037%	$26K	$19K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2968	−0.037%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2974	+0.155%	$99K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2963	−0.205%	$842K	$386K	50x	as long as short
Extended JUP-USD	+0.0448%	1h	0.2962	−0.223%	$2.2M	$500K	25x	as long as short