Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0259%/8h= −28.4% APRpaid last 24h −0.067%

Price spread now: Variational Omni against Extended−0.430%7-day average +0.073% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.259%−$26 on $10k

Price spread, last 4 days (all we have)+1.101%+$110 · spread now −0.430%, 7d avg +0.073%

Together, before fees+0.842%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$84 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Variational Omni is 0.503% cheaper against Extended than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of +0.073%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended JUP-USD	0.2959	0.0352	pay 0.0044% / 1h	40m 45s	$2.2M	$492K	25x
Short	Variational Omni JUP	0.2946	0.0093	get 0.0046% / 4h	1h 40m	$719K	$698K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now −0.430%Rate

Funding earned: −$54.47
Price spread: −0.430% → +0.073%: −$50.35
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$109.82
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 3 min ago; Variational Omni: RFQ quote, 38 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 Extended live order book, 3 min ago	6.80 bp	12.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 38 min ago	6.77 bp	doesn't fit	37.3 bp −$373	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	−0.5000%	1h	0.2904	−1.847%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2950	−0.293%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2957	−0.056%	$282K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2949	−0.337%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2949	−0.319%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0005%	1h	0.2948	−0.370%	$978K	$231K	10x	as long as short
Bybit JUPUSDT	+0.0013%	4h	0.2957	−0.053%	$15.8M	$19.3M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0030%	4h	0.2959	+0.012%	$4.1M	$12.6M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2949	−0.327%	—	—	20x	as long as short
Variational Omni JUPshort	+0.0093%	4h	0.2946	−0.430%	$719K	$698K	—

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter JUP	+0.0096%	1h	0.2953	−0.178%	$781K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0096%	8h	0.2960	+0.034%	$9K	$11K	10x	as long as short
dYdX JUP-USD	+0.0100%	1h	0.2959	+0.025%	$39K	$27K	5x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2949	−0.318%	$597K	$511K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2953	−0.201%	$18.7M	$10.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2952	−0.220%	$114K	$298K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2953	−0.194%	$16.3M	$43.4M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2939	−0.677%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2958	−0.022%	$739K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	+0.012%	$7.5M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2949	−0.326%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2961	+0.079%	$5.8M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2961	+0.079%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	−0.314%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	−0.428%	$157K	$274K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2952	−0.242%	$93K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2948	−0.360%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2943	−0.529%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2950	−0.293%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2945	−0.445%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2950	−0.299%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0201%	1h	0.2948	−0.346%	$589K	$496K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2950	−0.289%	$74K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2937	−0.739%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2951	−0.259%	$841K	$370K	50x	as long as short
Extended JUP-USDlong	+0.0352%	1h	0.2959	long leg	$2.2M	$492K	25x