Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0186%/8h= −20.3% APRpaid last 24h —

Price spread now: Bybit against Reya−0.170%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.170% cheaper against Reya than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya JUPRUSDPERP	0.2961	0.0057	pay 0.0007% / 1h	9m 47s	—	—	20x
Short	Bybit JUPUSDT	0.2956	−0.0129	pay 0.0065% / 4h	2h 09m	$16.2M	$24.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Reya. 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 ReyabpFee BybitbpOrdersPrice spread, now −0.170%Rate

Funding earned: −$39
Price spread: −0.170% → 0.000%: −$16.97
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$72.97
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 9 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 Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 9 min ago	1.68 bp	15.1 bp −$15	40.6 bp −$406	219.8 bp −$22.0K	doesn't fit

Reya: 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	0.2934	−0.899%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0894% / S +0.0334%	1h	0.2963	+0.082%	$13K	—	100x	as long as short
Bybit JUPUSDTshort	−0.0129%	4h	0.2956	−0.170%	$16.2M	$24.0M	50x
Deribit JUP_USDC-PERPETUAL	−0.0087%	1h	0.2963	+0.067%	$56K	$14K	10x	as long as short
Gate JUP_USDT	−0.0010%	4h	0.2957	−0.122%	$735K	$2.0M	75x	as long as short
Phoenix JUP	0.0000%	1h	0.2977	+0.536%	$95K	$447K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2963	+0.069%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0008%	1h	0.2961	+0.016%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2962	+0.051%	$601K	$624K	20x	as long as short
dYdX JUP-USD	+0.0024%	1h	0.2961	+0.005%	$39K	$36K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERPlong	+0.0057%	1h	0.2961	long leg	—	—	20x
Paradex JUP-USD-PERP	+0.0086%	8h	0.2961	+0.025%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2964	+0.107%	$836K	$1.3M	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2956	−0.142%	$723K	$1.2M	—	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2960	−0.004%	$597K	$668K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2963	+0.070%	$19.0M	$14.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2963	+0.077%	$106K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2962	+0.034%	$282K	$181K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2959	−0.066%	$16.4M	$56.2M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2958	−0.089%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	−0.055%	$8.0M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2962	+0.046%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2958	−0.089%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2956	−0.156%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2963	+0.067%	$980K	$266K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2961	+0.013%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2972	+0.384%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2968	+0.246%	$94K	$139K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2963	+0.080%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2955	−0.190%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2967	+0.215%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	−0.106%	$57K	$3K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2957	−0.114%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0118%	4h	0.2956	−0.156%	$856K	$332K	50x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2956	−0.158%	$2.2M	$540K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.975%	$74K	$95K	50x	as long as short