JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.3608%/8h= −395.1% APRnext payment −$4.51 per $10,000 · paid last 24h −0.483%

Price spread now: Injective against Backpack−1.436%72s7-day average −2.152% · you buy dearer than you sell

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

Long on Backpack Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.352%−$235 on $10k

Price spread, last 3 days (all we have)+0.830%+$83 · spread now −1.436%, 7d avg −2.152%

Together, before fees−1.521%−$152 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.717% dearer against Backpack than usual: you sell high and buy low (spread −1.436% now, against its 7-day average of −2.152%): +$72 on $10k if it goes back. Holding the pair costs −$108 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−2.352% in total) that is about 2.1 days. The two prices were read 72 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 -2.352% in total (about -122.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.51 per $10,000. 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	Backpack JUP_USDC_PERP	0.2953	0.0100	pay 0.0013% / 1h	11m 50s	$977K	$254K	10x
Short	Injective JUP/USDC PERP	0.2911	−0.3508	pay 0.0439% / 1h	11m 50s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.436%Rate

Funding earned: −$757.69
Price spread: −1.436% → −2.152%: $71.68
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$696.04
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Backpack: live order book, 7 min ago; Injective: live order book, 7 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 Backpack live order book, 7 min ago	0.84 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 7 min ago	71.28 bp	doesn't fit	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 PERPshort	−0.3508%	1h	0.2911	−1.436%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2955	+0.040%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2954	+0.027%	$281K	$171K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2954	+0.033%	$598K	$616K	20x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.2954	+0.037%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2955	+0.071%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2956	+0.071%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0010%	4h	0.2952	−0.047%	$745K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	+0.007%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0071%	4h	0.2952	−0.047%	$16.2M	$23.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0076%	8h	0.2953	−0.014%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2956	+0.081%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2956	+0.080%	$611K	$670K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2958	+0.142%	$19.0M	$13.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2955	+0.041%	$106K	$359K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2952	−0.047%	$16.3M	$54.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2952	−0.047%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2959	+0.190%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2953	−0.014%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2955	+0.054%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2953	−0.014%	$5.6M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2952	−0.047%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2953	long leg	$977K	$254K	10x
Variational Omni JUP	+0.0100%	4h	0.2952	−0.060%	$713K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2957	+0.122%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2956	+0.088%	$157K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	+0.176%	$93K	$131K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	+0.054%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.251%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2958	+0.156%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2952	−0.046%	$40K	—	3x	as long as short
dYdX JUP-USD	+0.0129%	1h	0.2957	+0.110%	$39K	$35K	5x	as long as short
BloFin JUP-USDT	+0.0148%	4h	0.2954	+0.020%	$844K	$327K	50x	as long as short
Phoenix JUP	+0.0190%	1h	0.2960	+0.217%	$95K	$441K	10x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2952	−0.059%	$2.2M	$504K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2957	+0.135%	$74K	$94K	50x	as long as short