Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.005%

Price spread now: Lighter against BingX+0.221%7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.221%, 7d avg +0.106%

Together, before fees−0.062%+ Points / potential airdropLighter: Season 3 · farm board−$6 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: Lighter is 0.116% dearer against BingX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.2982	0.0100	pay 0.0050% / 4h	2h 25m	—	$21.0M	—
Short	Lighter JUP	0.2989	0.0096	get 0.0012% / 1h	25m 58s	$882K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.221%Rate

Funding earned: −$0.84
Price spread: +0.221% → +0.106%: $11.58
Slippage, 4 orders: −$20.9
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.16
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Lighter: live order book, 5 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, 8 min ago	1.69 bp	6.7 bp −$7	9.4 bp −$94	23.7 bp −$2,368	126.0 bp −$63.0K
Sell Lighter live order book, 5 min ago	2.86 bp	7.4 bp −$7	50.8 bp −$508	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	−0.5000%	1h	0.2933	−1.643%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0833% / S +0.0285%	1h	0.2987	+0.165%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0184%	4h	0.2982	−0.003%	$16.3M	$24.2M	50x	as long as short
Phoenix JUP	0.0000%	1h	0.2977	−0.178%	$95K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2987	+0.151%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2986	+0.140%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2986	+0.149%	$605K	$624K	20x	as long as short
dYdX JUP-USD	+0.0035%	1h	0.2985	+0.110%	$39K	$36K	5x	as long as short
Gate JUP_USDT	+0.0050%	4h	0.2984	+0.067%	$744K	$1.9M	75x	as long as short
01 Exchange JUPUSD	+0.0056%	1h	0.2986	+0.148%	$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
Reya JUPRUSDPERP	+0.0057%	1h	0.2983	+0.022%	—	—	20x	as long as short
BloFin JUP-USDT	+0.0079%	4h	0.2977	−0.168%	$859K	$330K	50x	as long as short
Variational Omni JUP	+0.0087%	4h	0.2962	−0.658%	$724K	$1.2M	—	as long as short
Paradex JUP-USD-PERP	+0.0092%	8h	0.2984	+0.072%	$9K	$15K	10x	as long as short
Lighter JUPshort	+0.0096%	1h	0.2989	+0.221%	$882K	$1.3M	10x
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2986	+0.134%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2984	+0.067%	$602K	$671K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2988	+0.195%	$19.2M	$14.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2986	+0.144%	$107K	$367K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2985	+0.086%	$284K	$183K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2985	+0.101%	$16.5M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2984	+0.067%	$4.1M	$16.8M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2984	+0.067%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2986	+0.134%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2983	+0.034%	$5.7M	$8.5M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2982	long leg	—	$21.0M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2986	+0.134%	$989K	$268K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2966	−0.552%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2966	−0.537%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2989	+0.245%	$94K	$139K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2978	−0.134%	$112K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2989	+0.235%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2961	−0.694%	$57K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2984	+0.050%	$41K	—	3x	as long as short
Extended JUP-USD	+0.0232%	1h	0.2982	+0.006%	$2.2M	$539K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2989	+0.252%	$74K	$95K	50x	as long as short