Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: Variational Omni against Lighter−0.149%7-day average −0.097% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.577%+$58 · spread now −0.149%, 7d avg −0.097%

Together, before fees+0.572%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$57 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: Variational Omni is 0.052% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2950	0.0096	pay 0.0012% / 1h	50m 36s	$763K	$1.0M	10x
Short	Variational Omni JUP	0.2946	0.0100	get 0.0050% / 4h	3h 50m	$712K	$527K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. 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 LighterbpFee Variational OmnibpOrdersPrice spread, now −0.149%Rate

Funding earned: $0.84
Price spread: −0.149% → −0.097%: −$5.21
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$4.37
Costs to cover: 0.000%
Break-even: 43.4 days

Slippage unknown: Lighter: live order book, 5 min ago; Variational Omni: RFQ quote, 63 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 Lighter live order book, 5 min ago	5.80 bp	9.5 bp −$10	45.0 bp −$450	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 63 min ago	6.87 bp	doesn't fit	41.2 bp −$412	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	−0.3798%	1h	0.2898	−1.776%	$3K	$205K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2949	−0.049%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0089%	4h	0.2944	−0.227%	$15.9M	$17.1M	50x	as long as short
Pacifica JUP	−0.0070%	1h	0.2947	−0.108%	$281K	$137K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2948	−0.069%	$16K	—	150x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0021%	1h	0.2950	−0.010%	$53K	$17K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2948	−0.080%	—	—	20x	as long as short
dYdX JUP-USD	+0.0067%	1h	0.2947	−0.098%	$39K	$15K	5x	as long as short
ApeX Omni JUPUSDT	+0.0090%	1h	0.2936	−0.488%	$162K	$249K	50x	as long as short
Lighter JUPlong	+0.0096%	1h	0.2950	long leg	$763K	$1.0M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0098%	8h	0.2946	−0.159%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2944	−0.225%	$580K	$491K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2951	+0.006%	$18.2M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2949	−0.056%	$103K	$300K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2947	−0.117%	$16.1M	$38.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2944	−0.217%	$4.1M	$10.2M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2948	−0.081%	$701K	$1.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2947	−0.115%	$7.2M	$5.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2949	−0.047%	$4.0M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2949	−0.047%	$5.8M	$4.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2948	−0.081%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2950	−0.003%	$979K	$222K	10x	as long as short
Variational Omni JUPshort	+0.0100%	4h	0.2946	−0.149%	$712K	$527K	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2938	−0.420%	$1.6M	$4.0M	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2950	−0.014%	$93K	$106K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2948	−0.081%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2938	−0.420%	$112K	$45K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2951	+0.020%	$2.9M	$3.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2935	−0.534%	$61K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2947	−0.106%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0112%	1h	0.2944	−0.216%	$2.2M	$567K	25x	as long as short
01 Exchange JUPUSD	+0.0192%	1h	0.2947	−0.108%	$26K	$2K	5x	as long as short
Phoenix JUP	+0.0272%	1h	0.2934	−0.566%	$105K	$275K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0278%	1h	0.2950	−0.007%	$581K	$414K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2952	+0.068%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2940	−0.352%	$819K	$377K	50x	as long as short