Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h +0.002%

Price spread now: Bulk against Variational Omni−0.370%48s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Bulk is 0.370% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.370% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$37 on $10k: about 14 days of funding at the current rate (+$3 a day). The two prices were read 48 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	Variational Omni JUP	0.2947	0.0009	pay 0.0005% / 4h	2h 27m	$720K	$751K	—
Short	Bulk JUP-USD	0.2936	0.0100	get 0.0013% / 1h	27m 50s	$61K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Variational Omni. 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 Variational OmnibpFee BulkbpOrdersPrice spread, now −0.370%Rate

Funding earned: $19.05
Price spread: −0.370% → 0.000%: −$37.04
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$25
Costs to cover: 0.070%
Break-even: 16.2 days

Slippage unknown: Variational Omni: RFQ quote, 56 min ago; Bulk: 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 Variational Omni RFQ quote, 56 min ago	8.30 bp	doesn't fit	34.8 bp −$348	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: 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 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	0.2901	−1.562%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2956	+0.308%	$282K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2960	+0.439%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0212%	4h	0.2958	+0.372%	$15.9M	$20.2M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0058%	4h	0.2961	+0.474%	$4.1M	$14.4M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2962	+0.520%	$593K	$522K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2962	+0.508%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2959	+0.416%	—	—	150x	as long as short
Variational Omni JUPlong	+0.0009%	4h	0.2947	long leg	$720K	$751K	—
dYdX JUP-USD	+0.0017%	1h	0.2956	+0.297%	$39K	$29K	5x	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	+0.0028%	4h	0.2959	+0.406%	$732K	$1.5M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2959	+0.398%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0089%	8h	0.2956	+0.309%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2964	+0.589%	$783K	$1.3M	10x	as long as short
01 Exchange JUPUSD	+0.0096%	1h	0.2960	+0.440%	$26K	$19K	5x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2962	+0.508%	$31K	$43K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2957	+0.355%	$601K	$599K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2964	+0.586%	$18.8M	$11.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2961	+0.470%	$114K	$320K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2961	+0.481%	$16.4M	$46.4M	75x	as long as short
Bulk JUP-USDshort	+0.0100%	1h	0.2936	−0.370%	$61K	$8K	10x
MEXC JUP_USDT	+0.0100%	4h	0.2961	+0.474%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2961	+0.474%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2961	+0.474%	$5.8M	$6.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2960	+0.440%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2963	+0.535%	$981K	$235K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2948	+0.033%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2952	+0.168%	$157K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2961	+0.460%	$94K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2953	+0.202%	$111K	$49K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2960	+0.434%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2960	+0.433%	$97K	$402K	10x	as long as short
Phemex JUPUSDT	+0.0226%	4h	0.2963	+0.541%	$2.9M	$3.6M	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2959	+0.423%	$75K	$52K	50x	as long as short
Extended JUP-USD	+0.0336%	1h	0.2960	+0.431%	$2.2M	$487K	25x	as long as short