JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h +0.015%

Price spread now: Phoenix against Polymarket Perps0.000%59s7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as 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−$620.620% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.297%+$30 on $10k

Price spread, last 3 days (all we have)+0.133%+$13 · spread now 0.000%, 7d avg +0.008%

Together, before fees+0.430%+$43 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.297%, so the current rate has only just turned against you. The two prices were read 59 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	Polymarket Perps JUP-USD	0.2986	0.0100	pay 0.0013% / 1h	21m 51s	$94K	$138K	10x
Short	Phoenix JUP	0.2986	0	get 0.0000% / 1h	21m 51s	$95K	$447K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Polymarket Perps. 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 Polymarket PerpsbpFee PhoenixbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → +0.008%: −$0.83
Slippage, 4 orders: −$46.99
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$83.82
Costs to cover: 0.620%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 64 min ago; Phoenix: live order book, 65 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 Polymarket Perps live order book, 64 min ago	12.53 bp	16.8 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 65 min ago	2.51 bp	14.3 bp −$14	29.5 bp −$295	doesn't fit	doesn't fit

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	0.2933	−1.785%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0849% / S +0.0320%	1h	0.2981	−0.188%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0114%	4h	0.2979	−0.244%	$16.3M	$24.1M	50x	as long as short
Phoenix JUPshort	0.0000%	1h	0.2986	0.000%	$95K	$447K	10x
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2981	−0.164%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2982	−0.139%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2981	−0.186%	$604K	$624K	20x	as long as short
dYdX JUP-USD	+0.0032%	1h	0.2983	−0.115%	$39K	$36K	5x	as long as short
Gate JUP_USDT	+0.0034%	4h	0.2979	−0.244%	$741K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2979	−0.232%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0063%	4h	0.2985	−0.044%	$859K	$331K	50x	as long as short
01 Exchange JUPUSD	+0.0064%	1h	0.2980	−0.198%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERP	+0.0092%	8h	0.2979	−0.239%	$9K	$15K	10x	as long as short
Variational Omni JUP	+0.0094%	4h	0.2982	−0.131%	$728K	$1.2M	—	as long as short
Lighter JUP	+0.0096%	1h	0.2983	−0.104%	$873K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2978	−0.278%	$601K	$670K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2983	−0.100%	$19.1M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2981	−0.177%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2980	−0.219%	$284K	$183K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2981	−0.172%	$16.5M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2981	−0.177%	$4.1M	$16.8M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2981	−0.177%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2983	−0.111%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2980	−0.211%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2981	−0.177%	—	$21.0M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2980	−0.204%	$988K	$267K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2980	−0.214%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2978	−0.278%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USDlong	+0.0100%	1h	0.2986	long leg	$94K	$138K	10x
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2982	−0.144%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2974	−0.412%	$112K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2986	−0.010%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2961	−0.837%	$57K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2979	−0.228%	$41K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.107%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0256%	1h	0.2978	−0.282%	$2.2M	$539K	25x	as long as short