Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h +0.032%

Price spread now: Hyperliquid against Paradex−0.123%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 Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.123% cheaper against Paradex than usual: you would sell low and buy high, −$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex JUP-USD-PERP	0.2957	0.0097	pay 0.0097% / 8h	5h 38m	$9K	$11K	10x
Short	Hyperliquid JUP	0.2953	0.0100	get 0.0013% / 1h	38m 00s	$18.7M	$9.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Paradex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpOrdersPrice spread, now −0.123%Rate

Funding earned: $0.72
Price spread: −0.123% → 0.000%: −$12.34
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$24.62
Costs to cover: 0.130%
Break-even: 247.5 days

Slippage unknown: Paradex: no order-book sample; Hyperliquid: live order book, 5 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 Hyperliquid live order book, 5 min ago	2.37 bp	12.2 bp −$12	doesn't fit	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	0.2918	−1.304%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2951	−0.181%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2957	+0.015%	$282K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2952	−0.171%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2952	−0.163%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0009%	1h	0.2950	−0.211%	$980K	$256K	10x	as long as short
Bybit JUPUSDT	+0.0021%	4h	0.2947	−0.313%	$15.8M	$19.2M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0038%	4h	0.2952	−0.154%	$4.1M	$12.6M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2950	−0.222%	—	—	20x	as long as short
dYdX JUP-USD	+0.0090%	1h	0.2955	−0.038%	$39K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0093%	4h	0.2946	−0.359%	$719K	$698K	—	as long as short
Lighter JUP	+0.0096%	1h	0.2955	−0.059%	$781K	$1.1M	10x	as long as short
Paradex JUP-USD-PERPlong	+0.0097%	8h	0.2957	long leg	$9K	$11K	10x
Nado JUP-PERP	+0.0100%	1h	0.2951	−0.196%	$597K	$511K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2953	−0.123%	$18.7M	$9.9M	10x
Aster JUPUSDT	+0.0100%	4h	0.2952	−0.142%	$114K	$298K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.221%	$16.3M	$43.4M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2939	−0.606%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2952	−0.154%	$737K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2951	−0.188%	$7.5M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	−0.120%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2951	−0.188%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2951	−0.188%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	−0.243%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	−0.357%	$157K	$274K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2956	−0.012%	$93K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2951	−0.188%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2950	−0.221%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2955	−0.052%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.272%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2962	+0.188%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0201%	1h	0.2952	−0.154%	$589K	$496K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2952	−0.157%	$74K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2951	−0.184%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2954	−0.086%	$842K	$370K	50x	as long as short
Extended JUP-USD	+0.0344%	1h	0.2951	−0.198%	$2.2M	$492K	25x	as long as short