Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: Phemex against ApeX Omni+0.204%77s7-day average +0.119% · you sell dearer than you buy

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−$740.737% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.281%+$28 · spread now +0.204%, 7d avg +0.119%

Together, before fees+0.319%+$32 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: Phemex is 0.084% dearer against ApeX Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.119%. The two prices were read 77 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	ApeX Omni JUPUSDT	0.2945	0.0100	pay 0.0013% / 1h	37m 57s	$162K	$249K	50x
Short	Phemex JUPUSDT	0.2951	0.0100	get 0.0050% / 4h	3h 37m	$2.9M	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.204%Rate

Funding earned: $0
Price spread: +0.204% → +0.119%: $8.42
Slippage, 4 orders: −$51.66
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$65.24
Costs to cover: 0.737%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 59 min ago; Phemex: live order book, 6 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, 59 min ago	8.59 bp	16.3 bp −$16	115.1 bp −$1,151	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	3.39 bp	20.4 bp −$20	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 PERP	−0.3798%	1h	0.2898	−1.596%	$3K	$205K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2946	+0.049%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0187%	4h	0.2946	+0.034%	$16.0M	$17.1M	50x	as long as short
Pacifica JUP	−0.0070%	1h	0.2942	−0.091%	$281K	$138K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2945	+0.013%	$16K	—	150x	as long as short
dYdX JUP-USD	+0.0039%	1h	0.2942	−0.085%	$39K	$15K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2946	+0.035%	—	—	20x	as long as short
HTX JUP-USDT	+0.0071%	4h	0.2933	−0.407%	$113K	$47K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2950	+0.180%	$761K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2942	−0.113%	$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	0.2945	−0.008%	$580K	$490K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2952	+0.228%	$18.2M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2946	+0.034%	$102K	$300K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2948	+0.102%	$16.1M	$38.6M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2948	+0.102%	$4.1M	$10.2M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2944	−0.034%	$698K	$1.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2946	+0.034%	$7.9M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2946	+0.034%	$4.0M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2946	+0.034%	$5.8M	$4.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2947	+0.068%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2949	+0.149%	$979K	$222K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2940	−0.169%	$714K	$527K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2950	+0.170%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDTlong	+0.0100%	1h	0.2945	long leg	$162K	$249K	50x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2945	0.000%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2946	+0.034%	$33K	$29K	10x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2951	+0.204%	$2.9M	$3.0M	50x
Bulk JUP-USD	+0.0100%	1h	0.2946	+0.025%	$61K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2944	−0.017%	$40K	—	3x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0123%	1h	0.2948	+0.102%	$53K	$17K	10x	as long as short
Extended JUP-USD	+0.0152%	1h	0.2947	+0.085%	$2.2M	$577K	25x	as long as short
01 Exchange JUPUSD	+0.0224%	1h	0.2949	+0.146%	$26K	$2K	5x	as long as short
Phoenix JUP	+0.0272%	1h	0.2951	+0.194%	$107K	$275K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0278%	1h	0.2949	+0.129%	$582K	$416K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2957	+0.390%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2946	+0.034%	$821K	$377K	50x	as long as short