Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0717%/8h= −78.6% APRpaid last 24h −0.097%

Price spread now: GMX against Paradex−0.065%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and GMX is 0.065% cheaper against Paradex than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex JUP-USD-PERP	0.2940	0.0099	pay 0.0099% / 8h	4h 20m	$9K	$11K	10x
Short	GMX JUP/USD [WBTC.b-USDC]	0.2939	L −0.0275% / S +0.0618%	pay 0.0077% / 1h	20m 15s	$16K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$150.67
Price spread: −0.065% → 0.000%: −$6.52
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$173.19
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; GMX: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—

Paradex and GMX: 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	−0.4661%	1h	0.2907	−1.136%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0275% / S +0.0618%	1h	0.2939	−0.065%	$16K	—	100x
Pacifica JUP	−0.0125%	1h	0.2940	−0.005%	$280K	$146K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2938	−0.069%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2939	−0.040%	—	—	150x	as long as short
dYdX JUP-USD	+0.0011%	1h	0.2945	+0.172%	$38K	$25K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2936	−0.134%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2941	+0.027%	$777K	$1.0M	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2940	−0.003%	$589K	$470K	20x	as long as short
Paradex JUP-USD-PERPlong	+0.0099%	8h	0.2940	long leg	$9K	$11K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2936	−0.142%	$592K	$492K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2940	−0.003%	$18.5M	$9.4M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2940	−0.004%	$110K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2937	−0.116%	$16.2M	$41.4M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2935	−0.194%	$15.8M	$18.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2937	−0.116%	$4.0M	$11.6M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2944	+0.122%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2940	−0.014%	$725K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2937	−0.116%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2939	−0.048%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2938	−0.082%	$5.7M	$5.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2937	−0.116%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2943	+0.098%	$972K	$237K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2939	−0.050%	$718K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2945	+0.156%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2950	+0.326%	$157K	$253K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2941	+0.010%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2938	−0.082%	$30K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2934	−0.218%	$110K	$46K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2945	+0.156%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2936	−0.150%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0168%	1h	0.2942	+0.040%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2954	+0.469%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2948	+0.241%	$97K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2940	−0.014%	$834K	$383K	50x	as long as short
Extended JUP-USD	+0.0432%	1h	0.2936	−0.143%	$2.2M	$502K	25x	as long as short