Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0488%/8h= +53.4% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Bybit+0.107%7-day average +0.147% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.242%−$24 on $10k

Price spread, last 3 days (all we have)+0.249%+$25 · spread now +0.107%, 7d avg +0.147%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.040% cheaper against Bybit than usual: you would sell low and buy high (spread +0.107% now, against its 7-day average of +0.147%). If the spread goes back, that is −$4 on $10k: about 7 hours of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.242%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.242% in total (about -12.6% 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	0.2984	−0.0388	get 0.0194% / 4h	3h 58m	$16.2M	$22.0M	50x
Short	Polymarket Perps JUP-USD	0.2987	0.0100	get 0.0013% / 1h	58m 08s	$94K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.107%Rate

Funding earned: $102.43
Price spread: +0.107% → +0.147%: −$3.97
Slippage, 4 orders: −$49.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $29.7
Costs to cover: 0.688%
Break-even: 5.0 days

Slippage from Bybit: live order book, just now; Polymarket Perps: live order book, 14 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, just now	1.68 bp	14.8 bp −$15	39.1 bp −$391	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 14 min ago	10.25 bp	24.9 bp −$25	doesn't fit	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	−0.4634%	1h	0.2998	+0.469%	$3K	$206K	5.5x	as long as short
Gate JUP_USDT	−0.0444%	4h	0.2984	0.000%	$745K	$1.5M	75x	as long as short
Bybit JUPUSDTlong	−0.0388%	4h	0.2984	long leg	$16.2M	$22.0M	50x
Pacifica JUP	−0.0356%	1h	0.2979	−0.162%	$284K	$158K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2984	−0.005%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0101%	1h	0.2987	+0.099%	$602K	$588K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2982	−0.082%	$39K	$32K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2984	−0.017%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2983	−0.017%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0016%	1h	0.2983	−0.030%	$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
OKX JUP-USDT-SWAP	+0.0042%	4h	0.2984	0.000%	$4.1M	$16.2M	50x	as long as short
Variational Omni JUP	+0.0052%	4h	0.2976	−0.265%	$719K	$776K	—	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2979	−0.156%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.2979	−0.159%	$9K	$13K	10x	as long as short
BloFin JUP-USDT	+0.0092%	4h	0.2984	0.000%	$843K	$304K	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2989	+0.151%	$799K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2983	−0.034%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2980	−0.142%	$617K	$649K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2990	+0.194%	$19.2M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2987	+0.108%	$116K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2987	+0.101%	$16.4M	$51.8M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2979	−0.168%	$62K	$9K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2986	+0.067%	$8.1M	$7.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2987	+0.101%	$4.3M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2987	+0.101%	$5.8M	$7.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2984	0.000%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2986	+0.077%	$988K	$233K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2981	−0.101%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2981	−0.101%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USDshort	+0.0100%	1h	0.2987	+0.107%	$94K	$119K	10x
HTX JUP-USDT	+0.0100%	4h	0.2975	−0.302%	$112K	$62K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2980	−0.127%	$2.2M	$502K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2982	−0.067%	$41K	—	3x	as long as short
Phoenix JUP	+0.0162%	1h	0.2977	−0.221%	$97K	$468K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2989	+0.171%	$75K	$92K	50x	as long as short
Phemex JUPUSDT	+0.0418%	4h	0.2989	+0.168%	$2.9M	$3.8M	50x	as long as short