Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.027%

Price spread now: Kraken Futures against Bitget−0.104%7-day average +0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$840.835% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.691%+$69 on $10k

Price spread, last 4 days (all we have)+0.357%+$36 · spread now −0.104%, 7d avg +0.114%

Together, before fees+1.048%+$105 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.218% cheaper against Bitget than usual: you would sell low and buy high (spread −0.104% now, against its 7-day average of +0.114%). If the spread goes back, that is −$22 on $10k: about 4.6 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.691% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget JUPUSDT	0.2934	0.0100	pay 0.0050% / 4h	2h 14m	$5.8M	$5.2M	75x
Short	Kraken Futures PF_JUPUSD	0.2931	0.0258	get 0.0032% / 1h	14m 44s	$578K	$464K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now −0.104%Rate

Funding earned: $33.11
Price spread: −0.104% → +0.114%: −$21.8
Slippage, 4 orders: −$61.53
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$72.23
Costs to cover: 0.835%
Break-even: 22.3 days

Slippage from Bitget: live order book, 3 min ago; Kraken Futures: live order book, 33 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 Bitget live order book, 3 min ago	5.12 bp	13.0 bp −$13	35.9 bp −$359	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 33 min ago	20.33 bp	27.7 bp −$28	108.2 bp −$1,082	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	−0.4499%	1h	0.2882	−1.772%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2928	−0.188%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2933	−0.033%	$279K	$141K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2929	−0.179%	—	—	150x	as long as short
dYdX JUP-USD	+0.0009%	1h	0.2932	−0.054%	$39K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0023%	1h	0.2930	−0.130%	$53K	$17K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2929	−0.186%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2936	+0.061%	$762K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2934	−0.015%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2928	−0.213%	$580K	$494K	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	0.2934	−0.010%	$18.1M	$9.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2932	−0.059%	$107K	$281K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2934	−0.010%	$16.1M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2931	−0.106%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2935	+0.034%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2899	−1.193%	$60K	$280	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2929	−0.170%	$720K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2933	−0.034%	$6.8M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2932	−0.068%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDTlong	+0.0100%	4h	0.2934	long leg	$5.8M	$5.2M	75x
BingX JUP-USDT	+0.0100%	4h	0.2932	−0.068%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2931	−0.089%	$968K	$192K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2924	−0.340%	$709K	$626K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2929	−0.170%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2926	−0.273%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2931	−0.089%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2930	−0.136%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2921	−0.443%	$110K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2930	−0.135%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0136%	1h	0.2930	−0.140%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0152%	1h	0.2930	−0.137%	$2.2M	$556K	25x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0258%	1h	0.2931	−0.104%	$578K	$464K	20x
Phoenix JUP	+0.0271%	1h	0.2926	−0.273%	$98K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2933	−0.020%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2928	−0.204%	$817K	$377K	50x	as long as short
Phemex JUPUSDT	+0.0605%	4h	0.2934	0.000%	$2.9M	$3.1M	50x	as long as short