Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against Bulk−0.384%7-day average — · you buy dearer than you sell

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

Long on Bulk Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.384% cheaper against Bulk than usual: you would sell low and buy high, −$38 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk JUP-USD	0.2928	0.0100	pay 0.0013% / 1h	33m 56s	$61K	$2K	10x
Short	Nado JUP-PERP	0.2917	0.0100	get 0.0012% / 1h	33m 56s	$572K	$492K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bulk. 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 BulkbpFee NadobpOrdersPrice spread, now −0.384%Rate

Funding earned: $0
Price spread: −0.384% → 0.000%: −$38.42
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$52.42
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Bulk: no order-book sample; Nado: live order book, 9 min ago. 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 Bulk no order-book sample	—	—	—	—	—
Sell Nado live order book, 9 min ago	3.07 bp	10.4 bp −$10	44.3 bp −$443	doesn't fit	doesn't fit

Bulk: 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	−0.5000%	1h	0.2900	−0.956%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2917	−0.369%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2916	−0.400%	$278K	$140K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2917	−0.364%	—	—	150x	as long as short
dYdX JUP-USD	+0.0017%	1h	0.2916	−0.427%	$39K	$18K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2916	−0.426%	—	—	20x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0093%	1h	0.2918	−0.338%	$52K	$17K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2919	−0.297%	$757K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2917	−0.392%	$9K	$11K	10x	as long as short
Nado JUP-PERPshort	+0.0100%	1h	0.2917	−0.384%	$572K	$492K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2919	−0.294%	$18.0M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2916	−0.410%	$105K	$281K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2917	−0.376%	$16.0M	$39.6M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2914	−0.478%	$15.8M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2917	−0.376%	$4.0M	$10.6M	50x	as long as short
Bulk JUP-USDlong	+0.0100%	1h	0.2928	long leg	$61K	$2K	10x
Gate JUP_USDT	+0.0100%	4h	0.2918	−0.342%	$697K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2917	−0.376%	$6.7M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2918	−0.342%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2917	−0.376%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2916	−0.410%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2917	−0.362%	$965K	$229K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2917	−0.376%	$708K	$624K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2927	−0.046%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2924	−0.137%	$161K	$256K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2919	−0.297%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2917	−0.376%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2911	−0.581%	$109K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2916	−0.416%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2919	−0.311%	$26K	$6K	5x	as long as short
Extended JUP-USD	+0.0216%	1h	0.2916	−0.416%	$2.2M	$572K	25x	as long as short
Phoenix JUP	+0.0244%	1h	0.2929	+0.048%	$98K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2940	+0.427%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2919	−0.307%	$821K	$376K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0377%	1h	0.2918	−0.329%	$576K	$419K	20x	as long as short
Phemex JUPUSDT	+0.0581%	4h	0.2922	−0.205%	$2.9M	$3.0M	50x	as long as short