Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.009%

Price spread now: Paradex against Backpack−0.186%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.186% cheaper against Backpack than usual: you would sell low and buy high, −$19 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JUP_USDC_PERP	0.2927	0.0100	pay 0.0013% / 1h	40m 45s	$968K	$223K	10x
Short	Paradex JUP-USD-PERP	0.2921	0.0099	get 0.0099% / 8h	40m 45s	$9K	$11K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.186%Rate

Funding earned: −$0.25
Price spread: −0.186% → 0.000%: −$18.57
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$32.82
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 63 min ago; Paradex: no order-book sample. 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, 63 min ago	0.17 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3836%	1h	0.2897	−1.018%	$3K	$207K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2927	−0.001%	$16K	—	100x	as long as short
Pacifica JUP	−0.0058%	1h	0.2922	−0.166%	$279K	$138K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2928	+0.031%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2926	−0.018%	—	—	150x	as long as short
dYdX JUP-USD	+0.0040%	1h	0.2923	−0.116%	$39K	$15K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2926	−0.027%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2923	−0.140%	$757K	$1.0M	10x	as long as short
Paradex JUP-USD-PERPshort	+0.0099%	8h	0.2921	−0.186%	$9K	$11K	10x
Nado JUP-PERP	+0.0100%	1h	0.2925	−0.070%	$572K	$491K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2925	−0.058%	$18.0M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2925	−0.053%	$99K	$296K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2923	−0.137%	$16.0M	$39.0M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2921	−0.195%	$15.9M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2917	−0.335%	$4.0M	$10.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2913	−0.454%	$60K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2924	−0.096%	$701K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2922	−0.164%	$6.7M	$5.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2925	−0.062%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2923	−0.130%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2924	−0.096%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERPlong	+0.0100%	1h	0.2927	long leg	$968K	$223K	10x
Variational Omni JUP	+0.0100%	4h	0.2924	−0.098%	$708K	$529K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2928	+0.036%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2928	+0.041%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2928	+0.051%	$93K	$106K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2927	+0.007%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2920	−0.232%	$110K	$42K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2925	−0.062%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0152%	1h	0.2928	+0.024%	$26K	$6K	5x	as long as short
Extended JUP-USD	+0.0176%	1h	0.2922	−0.174%	$2.2M	$573K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2931	+0.140%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2926	−0.027%	$818K	$371K	50x	as long as short
Phoenix JUP	+0.0355%	1h	0.2930	+0.126%	$105K	$284K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0413%	1h	0.2928	+0.056%	$576K	$417K	20x	as long as short
Phemex JUPUSDT	+0.0461%	4h	0.2929	+0.075%	$2.9M	$3.0M	50x	as long as short