Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h +0.041%

Price spread now: Coinbase International against Phemex+0.017%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$14 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.135%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2940	0.0479	pay 0.0240% / 4h	1h 05m	$2.9M	$3.0M	50x
Short	Coinbase International JUP-PERP-INTX	0.2940	0.0304	get 0.0038% / 1h	5m 59s	$74K	$48K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$36.79
Price spread: +0.017% → 0.000%: $1.7
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$57.09
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Coinbase International: 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 Phemex live order book, 3 min ago	3.40 bp	20.1 bp −$20	74.9 bp −$749	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	0.2904	−1.224%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2938	−0.065%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2937	−0.100%	$280K	$138K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2937	−0.096%	—	—	150x	as long as short
dYdX JUP-USD	+0.0034%	1h	0.2935	−0.156%	$39K	$16K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2936	−0.127%	—	—	20x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0091%	1h	0.2935	−0.184%	$53K	$17K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2939	−0.048%	$760K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2936	−0.123%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2937	−0.102%	$573K	$490K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2938	−0.085%	$18.1M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2936	−0.149%	$106K	$280K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2934	−0.187%	$16.1M	$38.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2933	−0.228%	$15.9M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2935	−0.170%	$4.1M	$10.4M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2934	−0.204%	$701K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2935	−0.170%	$6.7M	$5.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2937	−0.102%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2936	−0.136%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2935	−0.170%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2936	−0.150%	$971K	$227K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2931	−0.308%	$710K	$531K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2937	−0.102%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2936	−0.136%	$162K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2939	−0.024%	$92K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2938	−0.068%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2931	−0.306%	$110K	$43K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2934	−0.187%	$61K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2934	−0.204%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0208%	1h	0.2939	−0.024%	$26K	$6K	5x	as long as short
Phoenix JUP	+0.0244%	1h	0.2938	−0.065%	$98K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTXshort	+0.0304%	1h	0.2940	+0.017%	$74K	$48K	50x
Extended JUP-USD	+0.0320%	1h	0.2934	−0.216%	$2.2M	$572K	25x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2937	−0.102%	$822K	$374K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0375%	1h	0.2936	−0.121%	$579K	$418K	20x	as long as short
Phemex JUPUSDTlong	+0.0479%	4h	0.2940	long leg	$2.9M	$3.0M	50x