Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Backpack against Orderly+0.014%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Backpack

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—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_JUP_USDC	0.2949	0.0100	pay 0.0050% / 4h	1h 57m	$33K	$29K	10x
Short	Backpack JUP_USDC_PERP	0.2949	0.0100	get 0.0013% / 1h	57m 41s	$994K	$236K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Orderly. 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 OrderlybpFee BackpackbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → 0.000%: $1.36
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$14.64
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 54 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 Orderly no order-book sample	—	—	—	—	—
Sell Backpack live order book, 54 min ago	1.01 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit

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 exchanges

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
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2953	+0.137%	$16K	—	100x	as long as short
Pacifica JUP	−0.0134%	1h	0.2949	+0.008%	$281K	$129K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2950	+0.051%	$55K	$9K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.2950	+0.036%	$18K	—	150x	as long as short
ApeX Omni JUPUSDT	+0.0040%	1h	0.2952	+0.102%	$163K	$234K	50x	as long as short
dYdX JUP-USD	+0.0041%	1h	0.2956	+0.242%	$39K	$10K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	−0.059%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0072%	1h	0.2950	+0.037%	$26K	$2K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2948	−0.031%	$759K	$947K	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2948	−0.019%	$9K	$9K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2947	−0.051%	$579K	$479K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2948	−0.051%	$17.9M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2947	−0.073%	$100K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2947	−0.068%	$16.2M	$36.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2945	−0.136%	$16.0M	$16.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2946	−0.102%	$4.0M	$9.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2953	+0.136%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2949	0.000%	$703K	$952K	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2947	−0.068%	$7.9M	$5.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2948	−0.034%	$4.0M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2948	−0.034%	$5.8M	$4.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2948	−0.034%	—	$21.4M	—	as long as short
Backpack JUP_USDC_PERPshort	+0.0100%	1h	0.2949	+0.014%	$994K	$236K	10x
Variational Omni JUP	+0.0100%	4h	0.2951	+0.061%	$714K	$320K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2959	+0.329%	$1.6M	$4.0M	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2954	+0.187%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDClong	+0.0100%	4h	0.2949	long leg	$33K	$29K	10x
HTX JUP-USDT	+0.0100%	4h	0.2944	−0.170%	$111K	$57K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2946	−0.092%	$2.2M	$543K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	0.000%	$40K	—	3x	as long as short
Phemex JUPUSDT	+0.0272%	4h	0.2956	+0.237%	$2.9M	$2.8M	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2951	+0.058%	$81K	$56K	50x	as long as short
Phoenix JUP	+0.0318%	1h	0.2959	+0.322%	$97K	$256K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2954	+0.170%	$827K	$364K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0526%	1h	0.2951	+0.060%	$580K	$391K	20x	as long as short
Injective JUP/USDC PERP	+0.4474%	1h	0.3020	+2.408%	$3K	$205K	5.5x	as long as short