Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.5093%/8h= −557.6% APRpaid last 24h −0.730%

Price spread now: Injective against Variational Omni−0.948%7-day average −2.034% · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−2.286%−$229 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.948%, 7d avg −2.034%

Together, before fees−2.233%+ Points / potential airdropVariational Omni: Active · farm board−$223 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.086% dearer against Variational Omni than usual: you sell high and buy low (spread −0.948% now, against its 7-day average of −2.034%): +$109 on $10k if it goes back. Holding the pair costs −$153 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 3 days (−2.286% in total) that is about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JUP	0.2946	0.0093	pay 0.0046% / 4h	1h 38m	$719K	$698K	—
Short	Injective JUP/USDC PERP	0.2918	−0.5000	pay 0.0625% / 1h	38m 41s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.948%Rate

Funding earned: −$1,069.45
Price spread: −0.948% → −2.034%: $108.64
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$960.83
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 40 min ago; Injective: live order book, 25 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, 40 min ago	6.77 bp	doesn't fit	33.9 bp −$339	doesn't fit	doesn't fit
Sell Injective live order book, 25 min ago	78.26 bp	doesn't fit	doesn't fit	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 PERPshort	−0.5000%	1h	0.2918	−0.948%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2952	+0.211%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2957	+0.375%	$282K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2952	+0.213%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2953	+0.247%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0020%	1h	0.2952	+0.189%	$980K	$256K	10x	as long as short
Bybit JUPUSDT	+0.0021%	4h	0.2956	+0.342%	$15.8M	$19.2M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0038%	4h	0.2958	+0.410%	$4.1M	$12.6M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2952	+0.206%	—	—	20x	as long as short
dYdX JUP-USD	+0.0090%	1h	0.2955	+0.323%	$39K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUPlong	+0.0093%	4h	0.2946	long leg	$719K	$698K	—
Lighter JUP	+0.0096%	1h	0.2960	+0.464%	$783K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0097%	8h	0.2957	+0.361%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2953	+0.223%	$598K	$511K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2959	+0.440%	$18.8M	$9.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2956	+0.326%	$114K	$298K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2957	+0.387%	$16.3M	$43.4M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2939	−0.248%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2954	+0.274%	$738K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2957	+0.376%	$7.5M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2954	+0.274%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	+0.308%	$5.8M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2954	+0.274%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	+0.117%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	+0.003%	$157K	$274K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2956	+0.352%	$93K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2953	+0.240%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	+0.003%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2958	+0.410%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2950	+0.138%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2954	+0.271%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0200%	1h	0.2954	+0.285%	$590K	$496K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2956	+0.332%	$74K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2951	+0.176%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2954	+0.274%	$842K	$370K	50x	as long as short
Extended JUP-USD	+0.0344%	1h	0.2953	+0.230%	$2.2M	$492K	25x	as long as short