JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0210%/8h= +22.9% APRnext payment +$0.26 per $10,000 · paid last 24h +0.013%

Price spread now: Kraken Futures against Phoenix−0.441%71s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$800.798% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.610%+$61 on $10k

Price spread, last 4 days (all we have)+0.550%+$55 · spread now −0.441%, 7d avg −0.016%

Together, before fees+1.160%+$116 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.425% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.441% now, against its 7-day average of −0.016%). If the spread goes back, that is −$43 on $10k: about 6.8 days of funding at the current rate (+$6 a day). The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix JUP	0.2959	0.0318	pay 0.0040% / 1h	56m 14s	$97K	$256K	10x
Short	Kraken Futures PF_JUPUSD	0.2945	0.0527	get 0.0066% / 1h	56m 14s	$579K	$391K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phoenix. 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 PhoenixbpFee Kraken FuturesbpOrdersPrice spread, now −0.441%Rate

Funding earned: $44.01
Price spread: −0.441% → −0.016%: −$42.54
Slippage, 4 orders: −$62.83
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$78.37
Costs to cover: 0.798%
Break-even: 19.5 days

Slippage from Phoenix: live order book, 52 min ago; Kraken Futures: live order book, 54 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 Phoenix live order book, 52 min ago	2.52 bp	14.4 bp −$14	28.9 bp −$289	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 54 min ago	16.76 bp	25.8 bp −$26	80.6 bp −$806	doesn't fit	doesn't fit

JUP on 36 exchanges

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
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2944	−0.488%	$16K	—	100x	as long as short
Pacifica JUP	−0.0134%	1h	0.2945	−0.441%	$281K	$129K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2942	−0.558%	$54K	$9K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.2943	−0.507%	$18K	—	150x	as long as short
ApeX Omni JUPUSDT	+0.0056%	1h	0.2951	−0.254%	$163K	$234K	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2941	−0.607%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2945	−0.439%	$759K	$948K	10x	as long as short
01 Exchange JUPUSD	+0.0096%	1h	0.2945	−0.470%	$26K	$2K	5x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2944	−0.486%	$9K	$9K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2940	−0.617%	$577K	$479K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2944	−0.507%	$17.9M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2943	−0.524%	$100K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2941	−0.577%	$16.2M	$36.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2940	−0.625%	$16.0M	$16.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2940	−0.625%	$4.0M	$9.7M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2943	−0.524%	$701K	$952K	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2941	−0.592%	$7.9M	$5.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2943	−0.524%	$4.0M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2943	−0.524%	$5.8M	$4.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2941	−0.592%	—	$21.4M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2944	−0.500%	$992K	$236K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2951	−0.260%	$714K	$320K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2954	−0.151%	$1.6M	$4.0M	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2948	−0.362%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2942	−0.558%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2937	−0.727%	$111K	$57K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2944	−0.473%	$61K	−$0	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2939	−0.650%	$2.2M	$543K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2941	−0.592%	$40K	—	3x	as long as short
Phemex JUPUSDT	+0.0249%	4h	0.2947	−0.389%	$2.9M	$2.8M	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2943	−0.527%	$81K	$56K	50x	as long as short
Phoenix JUPlong	+0.0318%	1h	0.2959	long leg	$97K	$256K	10x
BloFin JUP-USDT	+0.0340%	4h	0.2946	−0.423%	$823K	$363K	50x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0527%	1h	0.2945	−0.441%	$579K	$391K	20x
dYdX JUP-USD	+0.1431%	1h	0.2950	−0.271%	$39K	$10K	5x	as long as short
Injective JUP/USDC PERP	+0.4474%	1h	0.3020	+2.079%	$3K	$205K	5.5x	as long as short