Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.005%

Price spread now: Lighter against Bybit+0.170%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 7 days−0.191%−$19 · spread now +0.170%, 7d avg +0.127%

Together, before fees−0.134%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Lighter is 0.044% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.127%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.057% in total (about 3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JUPUSDT	0.2935	−0.0220	get 0.0110% / 4h	3h 52m	$15.9M	$17.1M	50x
Short	Lighter JUP	0.2940	0.0096	get 0.0012% / 1h	52m 20s	$760K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.170%Rate

Funding earned: $66.34
Price spread: +0.170% → +0.127%: $4.39
Slippage, 4 orders: −$38.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $21.24
Costs to cover: 0.495%
Break-even: 4.8 days

Slippage from Bybit: live order book, 1 min ago; Lighter: 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 Bybit live order book, 1 min ago	1.70 bp	14.9 bp −$15	40.2 bp −$402	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	5.80 bp	12.5 bp −$13	78.4 bp −$784	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	−0.3798%	1h	0.2898	−1.261%	$3K	$205K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2938	+0.119%	$16K	—	100x	as long as short
Bybit JUPUSDTlong	−0.0220%	4h	0.2935	long leg	$15.9M	$17.1M	50x
Pacifica JUP	−0.0070%	1h	0.2936	+0.044%	$280K	$137K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2938	+0.109%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2935	+0.005%	$16K	—	150x	as long as short
dYdX JUP-USD	+0.0032%	1h	0.2935	+0.016%	$39K	$15K	5x	as long as short
ApeX Omni JUPUSDT	+0.0056%	1h	0.2928	−0.239%	$161K	$249K	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2938	+0.103%	—	—	20x	as long as short
Lighter JUPshort	+0.0096%	1h	0.2940	+0.170%	$760K	$1.0M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0098%	8h	0.2936	+0.027%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2939	+0.153%	$579K	$491K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2943	+0.259%	$18.2M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2936	+0.040%	$102K	$297K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2937	+0.085%	$16.1M	$38.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2937	+0.068%	$4.1M	$10.2M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2935	0.000%	$699K	$1.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2939	+0.136%	$7.2M	$5.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2938	+0.102%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2938	+0.102%	$5.8M	$4.9M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2936	+0.034%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2939	+0.136%	$975K	$222K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2931	−0.136%	$712K	$527K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2932	−0.102%	$1.6M	$4.0M	10x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2940	+0.170%	$93K	$106K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2939	+0.136%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2931	−0.136%	$112K	$45K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2939	+0.136%	$2.9M	$3.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2935	−0.012%	$61K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2936	+0.028%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0112%	1h	0.2936	+0.026%	$2.2M	$567K	25x	as long as short
01 Exchange JUPUSD	+0.0208%	1h	0.2942	+0.252%	$26K	$2K	5x	as long as short
Phoenix JUP	+0.0272%	1h	0.2934	−0.044%	$105K	$275K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0279%	1h	0.2938	+0.098%	$578K	$414K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2944	+0.324%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2934	−0.034%	$818K	$376K	50x	as long as short