Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.042%

Price spread now: Paradex against Deribit−0.125%7-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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Paradex is 0.125% cheaper against Deribit than usual: you would sell low and buy high (spread −0.125% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 4.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit JUP_USDC-PERPETUAL	0.2951	0	get 0.0000% / 1h	24m 45s	$54K	$16K	10x
Short	Paradex JUP-USD-PERP	0.2947	0.0099	get 0.0099% / 8h	4h 24m	$9K	$11K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now −0.125%Rate

Funding earned: $20.8
Price spread: −0.125% → 0.000%: −$12.48
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$2.68
Costs to cover: 0.110%
Break-even: 7.9 days

Slippage unknown: Deribit: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

Deribit and Paradex: 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	−0.4661%	1h	0.2907	−1.481%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2950	−0.020%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2947	−0.139%	$281K	$146K	10x	as long as short
Deribit JUP_USDC-PERPETUALlong	0.0000%	1h	0.2951	long leg	$54K	$16K	10x
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2950	−0.029%	—	—	150x	as long as short
dYdX JUP-USD	+0.0013%	1h	0.2945	−0.177%	$38K	$25K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2949	−0.058%	—	—	20x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2952	+0.051%	$592K	$487K	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2947	−0.112%	$779K	$1.0M	10x	as long as short
Paradex JUP-USD-PERPshort	+0.0099%	8h	0.2947	−0.125%	$9K	$11K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2950	−0.032%	$593K	$496K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2947	−0.125%	$18.5M	$9.4M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2947	−0.134%	$110K	$289K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2944	−0.230%	$16.2M	$41.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2941	−0.315%	$15.8M	$18.5M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2945	−0.193%	$4.0M	$11.7M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2936	−0.498%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2947	−0.125%	$726K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2946	−0.159%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2947	−0.125%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2946	−0.159%	$5.8M	$5.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2945	−0.193%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2948	−0.105%	$977K	$235K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2942	−0.296%	$719K	$641K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2948	−0.105%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	−0.159%	$156K	$253K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2952	+0.044%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2951	+0.010%	$30K	$43K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2941	−0.329%	$110K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2953	+0.078%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.061%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2953	+0.061%	$26K	$17K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2954	+0.119%	$75K	$50K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2950	−0.027%	$97K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2946	−0.159%	$834K	$384K	50x	as long as short
Extended JUP-USD	+0.0472%	1h	0.2943	−0.254%	$2.2M	$502K	25x	as long as short