Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0065%/8h= +7.2% APRpaid last 24h +0.043%

Price spread now: Bybit against Deribit−0.251%45s7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.214%+$21 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.251% cheaper against Deribit than usual: you would sell low and buy high (spread −0.251% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 13 days of funding at the current rate (+$2 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit JUP_USDC-PERPETUAL	0.2947	−0.0055	get 0.0007% / 1h	34m 32s	$56K	$14K	10x
Short	Bybit JUPUSDT	0.2940	0.0010	get 0.0005% / 4h	1h 34m	$16.1M	$23.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now −0.251%Rate

Funding earned: $13.76
Price spread: −0.251% → 0.000%: −$25.11
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.35
Costs to cover: 0.180%
Break-even: 21.9 days

Slippage unknown: Deribit: no order-book sample; Bybit: live order book, 4 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 Deribit no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.70 bp	13.5 bp −$14	36.9 bp −$369	241.4 bp −$24.1K	doesn't fit

Deribit: 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	−0.3508%	1h	0.2918	−0.997%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2948	+0.019%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2944	−0.111%	$280K	$172K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2947	+0.001%	$598K	$618K	20x	as long as short
01 Exchange JUPUSD	−0.0104%	1h	0.2942	−0.170%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUALlong	−0.0055%	1h	0.2947	long leg	$56K	$14K	10x
Gate JUP_USDT	−0.0036%	4h	0.2942	−0.183%	$732K	$1.9M	75x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2948	+0.004%	$17K	—	150x	as long as short
Bybit JUPUSDTshort	+0.0010%	4h	0.2940	−0.251%	$16.1M	$23.7M	50x
BloFin JUP-USDT	+0.0051%	4h	0.2945	−0.081%	$846K	$322K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2941	−0.229%	—	—	20x	as long as short
dYdX JUP-USD	+0.0057%	1h	0.2946	−0.058%	$38K	$35K	5x	as long as short
Paradex JUP-USD-PERP	+0.0061%	8h	0.2943	−0.142%	$9K	$14K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2947	−0.031%	$790K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2941	−0.209%	$610K	$672K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2947	−0.003%	$18.9M	$13.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2945	−0.081%	$106K	$367K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2942	−0.183%	$16.2M	$55.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2942	−0.183%	$4.0M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2943	−0.149%	$7.9M	$8.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2946	−0.047%	$4.3M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2943	−0.149%	$5.6M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2943	−0.149%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2947	−0.031%	$975K	$259K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2943	−0.144%	$712K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	+0.054%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2959	+0.394%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2947	−0.031%	$93K	$135K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2947	−0.014%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2939	−0.285%	$110K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2952	+0.156%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+0.326%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2942	−0.183%	$2.2M	$541K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2944	−0.098%	$40K	—	3x	as long as short
Phoenix JUP	+0.0190%	1h	0.2959	+0.387%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.428%	$74K	$94K	50x	as long as short