Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Bybit against Variational Omni−0.185%7-day average −0.028% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now −0.185%, 7d avg −0.028%

Together, before fees−0.117%+ Points / potential airdropVariational Omni: Active · farm board−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.157% cheaper against Variational Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JUP	0.2959	0.0100	pay 0.0050% / 4h	3h 59m	$723K	$625K	—
Short	Bybit JUPUSDT	0.2954	0.0100	get 0.0050% / 4h	3h 59m	$15.9M	$17.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.185%Rate

Funding earned: $0
Price spread: −0.185% → −0.028%: −$15.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.71
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 9 min ago; Bybit: live order book, 4 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 Variational Omni RFQ quote, 9 min ago	8.46 bp	doesn't fit	42.3 bp −$423	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.69 bp	12.2 bp −$12	35.6 bp −$356	212.7 bp −$21.3K	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	−0.4661%	1h	0.2920	−1.334%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2961	+0.049%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2963	+0.111%	$282K	$146K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2961	+0.048%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2961	+0.060%	—	—	150x	as long as short
dYdX JUP-USD	+0.0008%	1h	0.2965	+0.201%	$39K	$24K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2959	−0.016%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2959	−0.008%	$593K	$469K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2961	+0.055%	$782K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2963	+0.105%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2962	+0.068%	$603K	$486K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2959	−0.016%	$18.6M	$9.4M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2959	−0.013%	$110K	$287K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2957	−0.084%	$16.3M	$40.5M	75x	as long as short
Bybit JUPUSDTshort	+0.0100%	4h	0.2954	−0.185%	$15.9M	$17.9M	50x
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2957	−0.084%	$4.0M	$11.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2949	−0.365%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2958	−0.050%	$733K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2956	−0.118%	$7.4M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2960	+0.017%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2958	−0.050%	$5.8M	$5.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2957	−0.084%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2959	−0.033%	$977K	$233K	10x	as long as short
Variational Omni JUPlong	+0.0100%	4h	0.2959	long leg	$723K	$625K	—
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2958	−0.050%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2958	−0.050%	$157K	$250K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2967	+0.241%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2961	+0.051%	$31K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2957	−0.084%	$111K	$45K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2964	+0.153%	$2.9M	$3.1M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2958	−0.055%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2962	+0.095%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2970	+0.359%	$75K	$50K	50x	as long as short
Extended JUP-USD	+0.0232%	1h	0.2956	−0.120%	$2.2M	$498K	25x	as long as short
Phoenix JUP	+0.0271%	1h	0.2964	+0.136%	$97K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2962	+0.085%	$838K	$376K	50x	as long as short