Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0161%/8h= +17.6% APRpaid last 24h +0.027%

Price spread now: Kraken Futures against Orderly+0.005%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 Kraken Futures

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_JUP_USDC	0.2895	0.0100	pay 0.0050% / 4h	2h 27m	$33K	$29K	10x
Short	Kraken Futures PF_JUPUSD	0.2895	0.0261	get 0.0033% / 1h	27m 06s	$574K	$460K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.005%Rate

Funding earned: $33.78
Price spread: +0.005% → 0.000%: $0.49
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $18.27
Costs to cover: 0.160%
Break-even: 3.2 days

Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 21 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 Kraken Futures live order book, 21 min ago	20.33 bp	27.7 bp −$28	108.2 bp −$1,082	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 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	−0.4499%	1h	0.2910	+0.518%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2893	−0.080%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2895	+0.011%	$276K	$142K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2895	−0.010%	$52K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2894	−0.027%	—	—	150x	as long as short
dYdX JUP-USD	+0.0013%	1h	0.2896	+0.019%	$38K	$20K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2894	−0.050%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2896	+0.028%	$755K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2895	+0.015%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2895	0.000%	$574K	$493K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2897	+0.055%	$18.1M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2895	+0.001%	$107K	$280K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2894	−0.035%	$15.9M	$39.6M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2892	−0.104%	$15.6M	$17.8M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2895	0.000%	$4.0M	$10.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2909	+0.500%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2894	−0.035%	$714K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2894	−0.035%	$6.7M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2896	+0.035%	$3.9M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2894	−0.035%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2895	0.000%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2895	−0.014%	$956K	$190K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2898	+0.105%	$703K	$630K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2906	+0.380%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2907	+0.415%	$160K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2898	+0.093%	$91K	$104K	10x	as long as short
Orderly PERP_JUP_USDClong	+0.0100%	4h	0.2895	long leg	$33K	$29K	10x
HTX JUP-USDT	+0.0100%	4h	0.2885	−0.345%	$108K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2895	0.000%	$39K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2896	+0.048%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0160%	1h	0.2893	−0.080%	$2.1M	$526K	25x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0261%	1h	0.2895	+0.005%	$574K	$460K	20x
Phoenix JUP	+0.0271%	1h	0.2907	+0.404%	$97K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2909	+0.487%	$74K	$48K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2893	−0.069%	$818K	$373K	50x	as long as short
Phemex JUPUSDT	+0.0433%	4h	0.2898	+0.104%	$2.8M	$3.0M	50x	as long as short