Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: HTX against Backpack−0.118%52s7-day average −0.247% · you buy dearer than you sell

Net, funding: paid 7d − costs−$248as 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−$2452.454% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 3 days (all we have)−0.052%−$5 · spread now −0.118%, 7d avg −0.247%

Together, before fees−0.083%−$8 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: HTX is 0.130% dearer against Backpack than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.247%. The two prices were read 52 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	Backpack JUP_USDC_PERP	0.2977	0.0100	pay 0.0013% / 1h	51m 14s	$985K	$246K	10x
Short	HTX JUP-USDT	0.2973	0.0100	get 0.0050% / 4h	51m 14s	$112K	$67K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → −0.247%: $12.98
Slippage, 4 orders: −$223.43
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$232.44
Costs to cover: 2.454%
Break-even: never at this rate

Slippage from Backpack: live order book, 28 min ago; HTX: live order book, 25 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, 28 min ago	0.84 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 25 min ago	11.86 bp	114.0 bp −$114	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	−0.4371%	1h	0.2944	−1.092%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2982	+0.184%	$15K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2984	+0.235%	$604K	$617K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2980	+0.129%	$284K	$169K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2983	+0.225%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2981	+0.167%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2979	+0.088%	—	—	20x	as long as short
Gate JUP_USDT	+0.0060%	4h	0.2980	+0.118%	$749K	$1.8M	75x	as long as short
Bybit JUPUSDT	+0.0067%	4h	0.2979	+0.084%	$16.3M	$23.0M	50x	as long as short
01 Exchange JUPUSD	+0.0072%	1h	0.2984	+0.252%	$26K	$19K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0075%	4h	0.2982	+0.185%	$847K	$330K	50x	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.2979	+0.091%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2985	+0.272%	$802K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2980	+0.118%	$615K	$664K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2981	+0.149%	$109K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2981	+0.167%	$16.4M	$53.9M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2978	+0.050%	$4.1M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2982	+0.185%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2982	+0.185%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2981	+0.151%	$5.7M	$8.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2980	+0.118%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2977	long leg	$985K	$246K	10x
Variational Omni JUP	+0.0100%	4h	0.2972	−0.148%	$718K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2977	+0.015%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2979	+0.084%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2988	+0.393%	$94K	$129K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2982	+0.185%	$31K	$49K	10x	as long as short
HTX JUP-USDTshort	+0.0100%	4h	0.2973	−0.118%	$112K	$67K	20x
Phemex JUPUSDT	+0.0100%	4h	0.2984	+0.252%	$2.9M	$4.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2966	−0.353%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2980	+0.134%	$41K	—	3x	as long as short
dYdX JUP-USD	+0.0110%	1h	0.2981	+0.167%	$39K	$34K	5x	as long as short
Hyperliquid JUP	+0.0161%	1h	0.2987	+0.343%	$19.2M	$13.2M	10x	as long as short
Phoenix JUP	+0.0162%	1h	0.2984	+0.235%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0216%	1h	0.2980	+0.115%	$2.2M	$506K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2979	+0.087%	$74K	$95K	50x	as long as short