Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0474%/8h= +51.9% APRpaid last 24h +0.039%

Price spread now: Kraken Futures against BingX+0.134%7-day average +0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.679%+$68 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now +0.134%, 7d avg +0.109%

Together, before fees+0.815%+$81 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.025% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.109%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.2894	0.0100	pay 0.0050% / 4h	49m 48s	—	$10.5M	—
Short	Kraken Futures PF_JUPUSD	0.2898	0.0574	get 0.0072% / 1h	49m 48s	$575K	$391K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.134%Rate

Funding earned: $99.45
Price spread: +0.134% → +0.109%: $2.5
Slippage, 4 orders: −$46.37
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $35.59
Costs to cover: 0.664%
Break-even: 4.5 days

Slippage from BingX: live order book, 1 min ago; Kraken Futures: live order book, 56 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 BingX live order book, 1 min ago	3.45 bp	8.5 bp −$8	10.7 bp −$107	21.7 bp −$2,167	49.2 bp −$24.6K
Sell Kraken Futures live order book, 56 min ago	15.40 bp	25.1 bp −$25	77.0 bp −$770	doesn't fit	doesn't fit

JUP on 36 exchanges

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
Pacifica JUP	−0.0298%	1h	0.2895	+0.032%	$276K	$132K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2901	+0.238%	$16K	—	100x	as long as short
01 Exchange JUPUSD	−0.0136%	1h	0.2900	+0.221%	$26K	$2K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2898	+0.121%	$54K	$8K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.2901	+0.242%	$17K	—	150x	as long as short
Injective JUP/USDC PERP	+0.0033%	1h	0.3020	+4.354%	$3K	$205K	5.5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2900	+0.198%	—	—	20x	as long as short
BloFin JUP-USDT	+0.0081%	4h	0.2896	+0.069%	$798K	$368K	50x	as long as short
Paradex JUP-USD-PERP	+0.0086%	8h	0.2895	+0.039%	$9K	$9K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2898	+0.124%	$746K	$924K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2901	+0.242%	$438K	$629K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2895	+0.041%	$17.6M	$6.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2894	+0.004%	$100K	$254K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2893	−0.027%	$15.7M	$34.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2891	−0.107%	$15.7M	$14.3M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2891	−0.104%	$4.0M	$9.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2896	+0.066%	$60K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2895	+0.035%	$700K	$1.0M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2894	0.000%	$8.0M	$5.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2896	+0.069%	$3.9M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2894	0.000%	$5.7M	$3.8M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2894	long leg	—	$10.5M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2896	+0.073%	$974K	$238K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2893	−0.044%	$700K	$217K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2897	+0.110%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2897	+0.104%	$158K	$223K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2903	+0.308%	$92K	$100K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2898	+0.138%	$33K	$27K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2893	−0.035%	$110K	$57K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2891	−0.103%	$2.1M	$582K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2897	+0.104%	$39K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0160%	1h	0.2910	+0.563%	$80K	$59K	50x	as long as short
Phemex JUPUSDT	+0.0224%	4h	0.2900	+0.207%	$2.9M	$2.7M	50x	as long as short
Phoenix JUP	+0.0276%	1h	0.2898	+0.138%	$97K	$254K	10x	as long as short
dYdX JUP-USD	+0.0509%	1h	0.2897	+0.098%	$38K	$10K	5x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0574%	1h	0.2898	+0.134%	$575K	$391K	20x