Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.044%

Price spread now: Deribit against BingX+0.130%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.249%−$25 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.130% dearer against BingX than usual: you sell high and buy low (spread +0.130% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.2932	0.0100	pay 0.0050% / 4h	3h 58m	—	$20.5M	—
Short	Deribit JUP_USDC-PERPETUAL	0.2936	0	get 0.0000% / 1h	58m 11s	$53K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee DeribitbpOrdersPrice spread, now +0.130%Rate

Funding earned: −$21
Price spread: +0.130% → 0.000%: $12.96
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.04
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 10 min ago; Deribit: 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 BingX live order book, 10 min ago	1.71 bp	6.7 bp −$7	11.0 bp −$110	21.9 bp −$2,190	112.9 bp −$56.5K
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.3798%	1h	0.2903	−0.989%	$3K	$205K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2934	+0.078%	$16K	—	100x	as long as short
Pacifica JUP	−0.0070%	1h	0.2935	+0.112%	$280K	$137K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2933	+0.044%	$39K	$15K	5x	as long as short
Deribit JUP_USDC-PERPETUALshort	0.0000%	1h	0.2936	+0.130%	$53K	$17K	10x
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2936	+0.146%	$16K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2934	+0.063%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2935	+0.102%	$759K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0098%	8h	0.2935	+0.098%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2935	+0.111%	$578K	$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	0.2935	+0.087%	$18.0M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2936	+0.126%	$101K	$295K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2934	+0.081%	$16.1M	$38.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2930	−0.068%	$15.9M	$17.1M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2932	0.000%	$4.0M	$10.1M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2932	0.000%	$698K	$1.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2933	+0.034%	$7.1M	$5.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2936	+0.136%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2933	+0.034%	$5.8M	$4.9M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2932	long leg	—	$20.5M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2933	+0.048%	$970K	$223K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2928	−0.133%	$711K	$528K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2934	+0.061%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2928	−0.136%	$161K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2937	+0.171%	$92K	$106K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2935	+0.102%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2929	−0.102%	$112K	$45K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2937	+0.171%	$2.9M	$3.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2935	+0.090%	$61K	$2K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2933	+0.026%	$2.2M	$576K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2933	+0.017%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0192%	1h	0.2940	+0.283%	$26K	$2K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0279%	1h	0.2936	+0.123%	$578K	$415K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2935	+0.116%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2931	−0.034%	$815K	$376K	50x	as long as short
Phoenix JUP	+0.0355%	1h	0.2936	+0.126%	$105K	$267K	10x	as long as short