Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: BingX against Backpack−0.047%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.047%, 7d avg −0.046%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2960	0.0100	pay 0.0013% / 1h	30m 01s	$980K	$236K	10x
Short	BingX JUP-USDT	0.2959	0.0100	get 0.0050% / 4h	2h 30m	—	$20.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Backpack. 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 BackpackbpFee BingXbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → −0.046%: −$0.08
Slippage, 4 orders: −$13.91
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$34
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Backpack: live order book, 39 min ago; BingX: live order book, 3 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 Backpack live order book, 39 min ago	1.66 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	3.40 bp	8.5 bp −$8	12.6 bp −$126	23.9 bp −$2,395	76.3 bp −$38.1K

JUP on 35 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	0.2901	−2.006%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2953	−0.248%	$281K	$149K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2955	−0.187%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0248%	4h	0.2959	−0.047%	$15.9M	$20.3M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0064%	4h	0.2960	−0.014%	$4.1M	$14.5M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2958	−0.074%	$592K	$526K	20x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2955	−0.191%	—	—	150x	as long as short
Gate JUP_USDT	+0.0006%	4h	0.2956	−0.149%	$732K	$1.5M	75x	as long as short
Variational Omni JUP	+0.0009%	4h	0.2947	−0.451%	$720K	$751K	—	as long as short
dYdX JUP-USD	+0.0018%	1h	0.2954	−0.232%	$39K	$29K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit JUP_USDC-PERPETUAL	+0.0021%	1h	0.2957	−0.125%	$54K	$16K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	−0.215%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0080%	1h	0.2957	−0.105%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERP	+0.0089%	8h	0.2953	−0.260%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2959	−0.054%	$782K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	−0.182%	$31K	$43K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2953	−0.250%	$600K	$602K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2962	+0.068%	$18.9M	$11.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2957	−0.124%	$114K	$320K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2960	−0.012%	$16.4M	$46.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.820%	$61K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2961	+0.020%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2960	−0.014%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2961	+0.020%	$5.8M	$6.5M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2959	−0.047%	—	$20.9M	—
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2960	long leg	$980K	$236K	10x
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2948	−0.418%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2948	−0.419%	$157K	$302K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2958	−0.095%	$94K	$110K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2947	−0.453%	$111K	$49K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.199%	$40K	—	3x	as long as short
Phoenix JUP	+0.0188%	1h	0.2952	−0.294%	$97K	$402K	10x	as long as short
Phemex JUPUSDT	+0.0271%	4h	0.2960	−0.014%	$2.9M	$3.6M	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2955	−0.193%	$74K	$52K	50x	as long as short
Extended JUP-USD	+0.0312%	1h	0.2960	+0.002%	$2.2M	$486K	25x	as long as short