Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Phemex against BingX+0.135%7-day average +0.181% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$800.804% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)+0.388%+$39 · spread now +0.135%, 7d avg +0.181%

Together, before fees+0.422%+$42 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: Phemex is 0.046% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.181%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX JUP-USDT	0.2967	0.0100	pay 0.0050% / 4h	1h 36m	—	$20.8M	—
Short	Phemex JUPUSDT	0.2971	0.0100	get 0.0050% / 4h	1h 36m	$2.9M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.135%Rate

Funding earned: $0
Price spread: +0.135% → +0.181%: −$4.59
Slippage, 4 orders: −$58.43
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$85.03
Costs to cover: 0.804%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Phemex: live order book, 3 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, 2 min ago	3.39 bp	8.4 bp −$8	11.4 bp −$114	23.8 bp −$2,385	86.5 bp −$43.3K
Sell Phemex live order book, 3 min ago	16.92 bp	31.6 bp −$32	87.2 bp −$872	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	0.2918	−1.651%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2967	−0.003%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2965	−0.081%	$282K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2969	+0.067%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2968	+0.040%	—	—	150x	as long as short
Bybit JUPUSDT	+0.0017%	4h	0.2965	−0.054%	$15.9M	$19.2M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0045%	4h	0.2967	0.000%	$4.1M	$12.6M	50x	as long as short
Backpack JUP_USDC_PERP	+0.0046%	1h	0.2968	+0.047%	$986K	$256K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2964	−0.093%	—	—	20x	as long as short
dYdX JUP-USD	+0.0082%	1h	0.2963	−0.120%	$39K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter JUP	+0.0096%	1h	0.2971	+0.148%	$786K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0097%	8h	0.2965	−0.078%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2963	−0.118%	$600K	$510K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2970	+0.111%	$18.9M	$9.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2969	+0.056%	$114K	$298K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2967	+0.004%	$16.4M	$43.3M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2939	−0.956%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2967	0.000%	$741K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2968	+0.034%	$7.5M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2968	+0.034%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2969	+0.067%	$5.8M	$6.0M	75x	as long as short
BingX JUP-USDTlong	+0.0100%	4h	0.2967	long leg	—	$20.8M	—
Variational Omni JUP	+0.0100%	4h	0.2965	−0.070%	$723K	$698K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2954	−0.439%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2954	−0.438%	$157K	$274K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2969	+0.081%	$94K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2968	+0.034%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2958	−0.303%	$112K	$47K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2971	+0.135%	$2.9M	$3.3M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2967	−0.017%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0184%	1h	0.2968	+0.024%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0199%	1h	0.2970	+0.089%	$593K	$494K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2966	−0.027%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2951	−0.536%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2963	−0.135%	$840K	$371K	50x	as long as short
Extended JUP-USD	+0.0352%	1h	0.2968	+0.023%	$2.2M	$493K	25x	as long as short