Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0283%/8h= +31.0% APRpaid last 24h +0.063%

Price spread now: Phemex against Pacifica+0.241%7-day average +0.158% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

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

costs, in and out, $10k−$760.765% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.328%+$33 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.241%, 7d avg +0.158%

Together, before fees+0.260%+ Points / potential airdropPacifica: Active · farm board+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phemex is 0.083% dearer against Pacifica than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.158%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica JUP	0.2945	−0.0183	get 0.0023% / 1h	2m 46s	$281K	$146K	10x
Short	Phemex JUPUSDT	0.2952	0.0100	get 0.0050% / 4h	3h 02m	$2.9M	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. 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 PacificabpFee PhemexbpOrdersPrice spread, now +0.241%Rate

Funding earned: $59.44
Price spread: +0.241% → +0.158%: $8.31
Slippage, 4 orders: −$56.47
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$8.73
Costs to cover: 0.765%
Break-even: 8.0 days

Slippage from Pacifica: live order book, 50 min ago; Phemex: live order book, 6 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 Pacifica live order book, 50 min ago	1.68 bp	12.8 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	10.15 bp	27.7 bp −$28	doesn't fit	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	0.2918	−0.913%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2947	+0.075%	$16K	—	100x	as long as short
Pacifica JUPlong	−0.0183%	1h	0.2945	long leg	$281K	$146K	10x
dYdX JUP-USD	0.0000%	1h	0.2946	+0.054%	$38K	$21K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2948	+0.095%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2946	+0.048%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2947	+0.064%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2948	+0.115%	$777K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2946	+0.038%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2947	+0.063%	$594K	$487K	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	0.2947	+0.071%	$18.5M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2947	+0.062%	$110K	$273K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2946	+0.021%	$16.1M	$39.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2943	−0.071%	$15.9M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2945	+0.003%	$4.1M	$11.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2955	+0.343%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2945	+0.003%	$732K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2947	+0.071%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2947	+0.071%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2945	+0.003%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2945	+0.003%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2947	+0.065%	$973K	$187K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2951	+0.207%	$721K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+0.207%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2950	+0.173%	$163K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2952	+0.238%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2946	+0.037%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2939	−0.200%	$110K	$44K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2952	+0.241%	$2.9M	$3.0M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2945	+0.003%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2949	+0.143%	$26K	$17K	5x	as long as short
Extended JUP-USD	+0.0176%	1h	0.2946	+0.028%	$2.2M	$506K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0178%	1h	0.2948	+0.098%	$585K	$470K	20x	as long as short
Phoenix JUP	+0.0216%	1h	0.2958	+0.448%	$97K	$283K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2968	+0.778%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2948	+0.105%	$829K	$378K	50x	as long as short