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 +0.057%

Price spread now: Variational Omni against Pacifica+0.145%7-day average −0.003% · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.096%+$10 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now +0.145%, 7d avg −0.003%

Together, before fees+0.169%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$17 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 Variational Omni is 0.148% dearer against Pacifica than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.003%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.096% in total (about 9.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica JUP	0.2956	−0.0183	get 0.0023% / 1h	11m 15s	$282K	$146K	10x
Short	Variational Omni JUP	0.2960	0.0100	get 0.0050% / 4h	3h 11m	$722K	$624K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.145%Rate

Funding earned: $59.44
Price spread: +0.145% → −0.003%: $14.75
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $66.19
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Pacifica: live order book, 42 min ago; Variational Omni: RFQ quote, 58 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 Pacifica live order book, 42 min ago	1.68 bp	12.8 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 58 min ago	8.46 bp	doesn't fit	32.1 bp −$321	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	−1.276%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2955	−0.017%	$16K	—	100x	as long as short
Pacifica JUPlong	−0.0183%	1h	0.2956	long leg	$282K	$146K	10x
dYdX JUP-USD	0.0000%	1h	0.2959	+0.125%	$39K	$21K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2954	−0.051%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2956	+0.001%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	−0.074%	—	—	20x	as long as short
Backpack JUP_USDC_PERP	+0.0081%	1h	0.2952	−0.132%	$977K	$186K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2955	−0.010%	$779K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2955	−0.022%	$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	0.2955	−0.015%	$596K	$488K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2954	−0.053%	$18.5M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2954	−0.068%	$110K	$286K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2951	−0.159%	$16.2M	$39.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2949	−0.227%	$15.9M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2951	−0.159%	$4.1M	$11.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2955	−0.024%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2952	−0.125%	$732K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2951	−0.159%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	−0.091%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2952	−0.125%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2950	−0.193%	—	$20.7M	—	as long as short
Variational Omni JUPshort	+0.0100%	4h	0.2960	+0.145%	$722K	$624K	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2959	+0.119%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2957	+0.044%	$163K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	+0.105%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2954	−0.058%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2948	−0.261%	$111K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2956	+0.010%	$2.9M	$3.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2952	−0.125%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0152%	1h	0.2955	−0.030%	$26K	$17K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0178%	1h	0.2955	−0.013%	$587K	$470K	20x	as long as short
Phoenix JUP	+0.0216%	1h	0.2963	+0.244%	$97K	$283K	10x	as long as short
Extended JUP-USD	+0.0232%	1h	0.2952	−0.137%	$2.2M	$504K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2968	+0.409%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2950	−0.193%	$833K	$378K	50x	as long as short