Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0186%/8h= −20.4% APRpaid last 24h −0.018%

Price spread now: OKX against ApeX Omni−0.203%80s7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.641% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)−0.518%−$52 · spread now −0.203%, 7d avg −0.095%

Together, before fees−0.580%−$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and OKX is 0.108% cheaper against ApeX Omni than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.095%). Swap the legs. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.062% in total (about -3.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni JUPUSDT	0.2962	0.0100	pay 0.0013% / 1h	46m 10s	$157K	$303K	50x
Short	OKX JUP-USDT-SWAP	0.2956	−0.0086	pay 0.0043% / 4h	2h 46m	$4.0M	$14.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against ApeX 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 ApeX OmnibpFee OKXbpOrdersPrice spread, now −0.203%Rate

Funding earned: −$39.15
Price spread: −0.203% → −0.095%: −$10.78
Slippage, 4 orders: −$44.14
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$114.08
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 21 min ago; OKX: live order book, 2 min ago.

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 ApeX Omni live order book, 21 min ago	9.98 bp	17.6 bp −$18	105.4 bp −$1,054	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.38 bp	14.6 bp −$15	60.1 bp −$601	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 PERP	−0.4347%	1h	0.2904	−1.958%	$3K	$206K	5.5x	as long as short
Bybit JUPUSDT	−0.0380%	4h	0.2954	−0.270%	$15.9M	$20.6M	50x	as long as short
Pacifica JUP	−0.0353%	1h	0.2956	−0.187%	$282K	$149K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2956	−0.195%	$16K	—	100x	as long as short
OKX JUP-USDT-SWAPshort	−0.0086%	4h	0.2956	−0.203%	$4.0M	$14.9M	50x
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2958	−0.132%	$595K	$523K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2957	−0.184%	$39K	$31K	5x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.2957	−0.162%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	−0.169%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2957	−0.177%	—	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0006%	4h	0.2953	−0.304%	$740K	$1.5M	75x	as long as short
Variational Omni JUP	+0.0040%	4h	0.2951	−0.387%	$716K	$761K	—	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	−0.285%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0084%	8h	0.2957	−0.185%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2960	−0.078%	$783K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	−0.169%	$31K	$44K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2953	−0.321%	$607K	$602K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2959	−0.095%	$18.9M	$11.3M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2957	−0.169%	$114K	$325K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2956	−0.203%	$16.3M	$47.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2957	−0.169%	$7.6M	$6.9M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2955	−0.236%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	−0.236%	$5.7M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2955	−0.236%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2956	−0.213%	$979K	$236K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2964	+0.068%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDTlong	+0.0100%	1h	0.2962	long leg	$157K	$303K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2962	−0.003%	$93K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.338%	$111K	$55K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2962	+0.014%	$62K	$8K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2954	−0.279%	$2.2M	$485K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2953	−0.303%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2958	−0.128%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2960	−0.074%	$74K	$57K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2964	+0.068%	$853K	$380K	50x	as long as short
Phemex JUPUSDT	+0.0496%	4h	0.2962	0.000%	$2.9M	$3.6M	50x	as long as short