Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: BingX against Phemex−0.168%7-day average −0.181% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$560.559% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now −0.168%, 7d avg −0.181%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2969	0.0100	pay 0.0050% / 4h	2h 22m	$2.9M	$3.5M	50x
Short	BingX JUP-USDT	0.2964	0.0100	get 0.0050% / 4h	2h 22m	—	$20.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Phemex. 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 PhemexbpFee BingXbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → −0.181%: $1.25
Slippage, 4 orders: −$33.93
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$54.68
Costs to cover: 0.559%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; BingX: live order book, 1 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 Phemex live order book, 1 min ago	5.05 bp	20.7 bp −$21	70.1 bp −$701	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	1.69 bp	6.7 bp −$7	13.3 bp −$133	20.8 bp −$2,077	56.2 bp −$28.1K

JUP on 35 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	−0.4347%	1h	0.2917	−1.751%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2966	−0.105%	$283K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2965	−0.141%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0186%	4h	0.2960	−0.303%	$15.9M	$20.0M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0048%	4h	0.2961	−0.269%	$4.1M	$14.1M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2964	−0.174%	$592K	$515K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2965	−0.125%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2964	−0.160%	—	—	150x	as long as short
dYdX JUP-USD	+0.0014%	1h	0.2963	−0.188%	$39K	$29K	5x	as long as short
Variational Omni JUP	+0.0036%	4h	0.2967	−0.067%	$724K	$751K	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0052%	4h	0.2964	−0.168%	$740K	$1.5M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2965	−0.151%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0091%	8h	0.2966	−0.095%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2967	−0.084%	$784K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2964	−0.168%	$31K	$43K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2965	−0.135%	$601K	$535K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2968	−0.020%	$18.9M	$10.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2966	−0.102%	$114K	$321K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2964	−0.185%	$16.4M	$45.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2964	−0.168%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2966	−0.101%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2965	−0.135%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2965	−0.135%	$5.8M	$6.4M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2964	−0.168%	—	$20.8M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2963	−0.189%	$981K	$235K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2966	−0.101%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2968	−0.034%	$158K	$296K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2967	−0.054%	$94K	$109K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2959	−0.337%	$112K	$49K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2969	long leg	$2.9M	$3.5M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2961	−0.256%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2967	−0.054%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2970	+0.051%	$98K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2969	+0.003%	$75K	$51K	50x	as long as short
Extended JUP-USD	+0.0424%	1h	0.2963	−0.211%	$2.2M	$486K	25x	as long as short