Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0403%/8h= −44.1% APRpaid last 24h −0.009%

Price spread now: Backpack against Paradex+0.442%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Backpack is 0.442% dearer against Paradex than usual: you sell high and buy low (spread +0.442% now, against zero (this spread has no 7-day history yet)): +$44 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex JUP-USD-PERP	0.2950	0.0099	pay 0.0099% / 8h	3h 54m	$9K	$11K	10x
Short	Backpack JUP_USDC_PERP	0.2963	−0.0304	pay 0.0038% / 1h	54m 48s	$979K	$233K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now +0.442%Rate

Funding earned: −$84.64
Price spread: +0.442% → 0.000%: $44.23
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$54.42
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 64 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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 64 min ago	1.35 bp	9.1 bp −$9	907.0 bp −$9,070	doesn't fit	doesn't fit

Paradex: 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	−0.5000%	1h	0.2921	−0.978%	$3K	$206K	5.5x	as long as short
Backpack JUP_USDC_PERPshort	−0.0304%	1h	0.2963	+0.442%	$979K	$233K	10x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2961	+0.383%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2952	+0.073%	$281K	$146K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2952	+0.089%	$39K	$22K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2961	+0.391%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2961	+0.370%	—	—	150x	as long as short
01 Exchange JUPUSD	+0.0040%	1h	0.2960	+0.341%	$26K	$17K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2960	+0.328%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2964	+0.473%	$783K	$1.0M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERPlong	+0.0099%	8h	0.2950	long leg	$9K	$11K	10x
Nado JUP-PERP	+0.0100%	1h	0.2959	+0.327%	$602K	$485K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2960	+0.344%	$18.6M	$9.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2962	+0.415%	$110K	$287K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2958	+0.282%	$16.2M	$40.4M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2956	+0.198%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2958	+0.276%	$4.0M	$11.3M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2949	−0.039%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2961	+0.378%	$735K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2958	+0.276%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2962	+0.412%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2960	+0.344%	$5.8M	$5.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2957	+0.242%	—	$20.7M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2947	−0.097%	$719K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+0.047%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2948	−0.063%	$156K	$251K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2962	+0.419%	$94K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2961	+0.378%	$31K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2953	+0.107%	$111K	$45K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2963	+0.446%	$2.9M	$3.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2962	+0.397%	$40K	—	3x	as long as short
Kraken Futures PF_JUPUSD	+0.0177%	1h	0.2962	+0.419%	$594K	$468K	20x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2956	+0.214%	$2.2M	$494K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2970	+0.686%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2955	+0.185%	$97K	$283K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2961	+0.378%	$838K	$376K	50x	as long as short