Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0375%/8h= +41.0% APRpaid last 24h +0.237%

Price spread now: Orderly against GMX+0.030%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Orderly

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—needs both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Orderly is 0.030% dearer against GMX than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX JUP/USD [WBTC.b-USDC]	0.2930	L −0.0275% / S +0.0618%	get 0.0034% / 1h	10m 06s	$16K	—	100x
Short	Orderly PERP_JUP_USDC	0.2931	0.0100	get 0.0050% / 4h	10m 06s	$33K	$27K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against GMX. 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 GMXbpFee OrderlybpOrdersPrice spread, now +0.030%Rate

Funding earned: $78.66
Price spread: +0.030% → 0.000%: $3
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $63.66
Costs to cover: 0.180%
Break-even: 1.3 days

Slippage unknown: GMX: no order-book sample; Orderly: 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 GMX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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 exchanges

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
Pacifica JUP	−0.0298%	1h	0.2931	+0.016%	$279K	$131K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]long	L −0.0275% / S +0.0618%	1h	0.2930	long leg	$16K	—	100x
01 Exchange JUPUSD	−0.0056%	1h	0.2929	−0.038%	$26K	—	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2930	−0.011%	$54K	$8K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.2931	+0.030%	$18K	—	150x	as long as short
Injective JUP/USDC PERP	+0.0033%	1h	0.3020	+3.067%	$3K	$205K	5.5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2928	−0.065%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0088%	8h	0.2929	−0.040%	$9K	$9K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2933	+0.095%	$754K	$935K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2929	−0.047%	$445K	$650K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2933	+0.115%	$17.9M	$6.8M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2932	+0.067%	$100K	$250K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2932	+0.064%	$15.9M	$34.4M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2930	−0.004%	$15.9M	$14.1M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2932	+0.064%	$4.0M	$9.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2930	+0.008%	$60K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2931	+0.030%	$700K	$1.0M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2930	−0.004%	$8.5M	$5.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2931	+0.030%	$4.0M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2932	+0.064%	$5.8M	$3.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2930	−0.004%	—	$10.4M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2931	+0.033%	$986K	$238K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2926	−0.151%	$702K	$236K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2934	+0.135%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2931	+0.030%	$152K	$225K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2936	+0.201%	$92K	$98K	10x	as long as short
Orderly PERP_JUP_USDCshort	+0.0100%	4h	0.2931	+0.030%	$33K	$27K	10x
HTX JUP-USDT	+0.0100%	4h	0.2925	−0.175%	$111K	$46K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2928	−0.073%	$2.2M	$586K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2928	−0.066%	$40K	—	3x	as long as short
Phemex JUPUSDT	+0.0129%	4h	0.2934	+0.132%	$2.9M	$2.7M	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0160%	1h	0.2931	+0.033%	$80K	$60K	50x	as long as short
Phoenix JUP	+0.0276%	1h	0.2936	+0.187%	$98K	$254K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2934	+0.132%	$805K	$352K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0567%	1h	0.2934	+0.117%	$582K	$390K	20x	as long as short
dYdX JUP-USD	+0.0787%	1h	0.2932	+0.070%	$39K	$10K	5x	as long as short