Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h +0.047%

Price spread now: Kraken Futures against OKX+0.101%7-day average +0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$870.875% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.727%+$73 on $10k

Price spread, last 4 days (all we have)+0.217%+$22 · spread now +0.101%, 7d avg +0.145%

Together, before fees+0.944%+$94 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: Kraken Futures is 0.044% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.145%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX JUP-USDT-SWAP	0.2950	0.0100	pay 0.0050% / 4h	14m 59s	$4.0M	$11.6M	50x
Short	Kraken Futures PF_JUPUSD	0.2953	0.0096	get 0.0012% / 1h	14m 59s	$592K	$469K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$0.89
Price spread: +0.101% → +0.145%: −$4.39
Slippage, 4 orders: −$67.47
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$92.74
Costs to cover: 0.875%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Kraken Futures: live order book, 43 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 OKX live order book, 3 min ago	3.40 bp	14.3 bp −$14	53.3 bp −$533	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 43 min ago	17.00 bp	26.1 bp −$26	64.4 bp −$644	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	−0.4661%	1h	0.2907	−1.458%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2951	+0.044%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2949	−0.042%	$281K	$146K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2952	+0.051%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2951	+0.025%	—	—	150x	as long as short
dYdX JUP-USD	+0.0010%	1h	0.2947	−0.088%	$38K	$24K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2948	−0.067%	—	—	20x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0096%	1h	0.2953	+0.101%	$592K	$469K	20x
Lighter JUP	+0.0096%	1h	0.2954	+0.119%	$780K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2950	+0.014%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2950	+0.017%	$596K	$490K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2953	+0.092%	$18.6M	$9.4M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2950	+0.011%	$110K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.009%	$16.2M	$41.2M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2947	−0.102%	$15.9M	$18.2M	50x	as long as short
OKX JUP-USDT-SWAPlong	+0.0100%	4h	0.2950	long leg	$4.0M	$11.6M	50x
Bulk JUP-USD	+0.0100%	1h	0.2944	−0.203%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2948	−0.068%	$726K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2950	0.000%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2949	−0.034%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	0.000%	$5.8M	$5.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2948	−0.068%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2951	+0.044%	$975K	$235K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2944	−0.187%	$719K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	−0.034%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2948	−0.068%	$156K	$251K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2955	+0.156%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2951	+0.034%	$30K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2945	−0.169%	$111K	$45K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2954	+0.136%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.034%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0160%	1h	0.2953	+0.102%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2954	+0.142%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2950	−0.014%	$97K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2948	−0.068%	$841K	$384K	50x	as long as short
Extended JUP-USD	+0.0376%	1h	0.2950	−0.010%	$2.2M	$502K	25x	as long as short