Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h −0.385%

Price spread now: Phemex against 01 Exchange+0.132%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Phemex

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—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phemex is 0.132% dearer against 01 Exchange than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange JUPUSD	0.2958	−0.0032	get 0.0004% / 1h	19m 48s	$26K	$19K	5x
Short	Phemex JUPUSDT	0.2962	0.0100	get 0.0050% / 4h	1h 19m	$2.9M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now +0.132%Rate

Funding earned: $27.72
Price spread: +0.132% → 0.000%: $13.18
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: $21.9
Costs to cover: 0.190%
Break-even: 1.5 days

Slippage unknown: 01 Exchange: no order-book sample; Phemex: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	3.38 bp	19.0 bp −$19	76.1 bp −$761	doesn't fit	doesn't fit

01 Exchange: 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	−0.3508%	1h	0.2911	−1.592%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2957	−0.031%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2960	+0.052%	$282K	$171K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2956	−0.075%	$601K	$613K	20x	as long as short
01 Exchange JUPUSDlong	−0.0032%	1h	0.2958	long leg	$26K	$19K	5x
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	−0.037%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2957	−0.040%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0006%	4h	0.2956	−0.071%	$746K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	−0.126%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0071%	8h	0.2960	+0.067%	$9K	$13K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JUPUSDT	+0.0088%	4h	0.2954	−0.139%	$16.2M	$23.3M	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2958	+0.010%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2955	−0.088%	$612K	$671K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2961	+0.108%	$19.0M	$13.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2957	−0.020%	$106K	$365K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	−0.071%	$16.3M	$54.8M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2955	−0.105%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2959	+0.030%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2956	−0.071%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2958	−0.003%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	−0.037%	$5.6M	$8.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2956	−0.071%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2957	−0.044%	$978K	$255K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2955	−0.117%	$714K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2954	−0.144%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2953	−0.172%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2961	+0.112%	$93K	$132K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	−0.037%	$31K	$50K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2950	−0.274%	$111K	$67K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2962	+0.132%	$2.9M	$4.0M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.139%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0121%	4h	0.2959	+0.030%	$848K	$325K	50x	as long as short
dYdX JUP-USD	+0.0131%	1h	0.2959	+0.016%	$39K	$35K	5x	as long as short
Extended JUP-USD	+0.0144%	1h	0.2955	−0.116%	$2.2M	$502K	25x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.071%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2961	+0.085%	$74K	$93K	50x	as long as short