JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0101%/8h= +11.0% APRnext payment +$0.13 per $10,000 · paid last 24h −0.001%

Price spread now: Kraken Futures against Hyperliquid−0.044%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$720.722% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.643%+$64 on $10k

Price spread, last 4 days (all we have)+0.279%+$28 · spread now −0.044%, 7d avg −0.008%

Together, before fees+0.922%+ Points / potential airdropHyperliquid: Season 2 · farm board+$92 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.036% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of −0.008%). If the spread goes back, that is −$4 on $10k: about 28 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.643% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2953	0.0100	pay 0.0013% / 1h	37m 48s	$18.7M	$9.9M	10x
Short	Kraken Futures PF_JUPUSD	0.2952	0.0201	get 0.0025% / 1h	37m 48s	$589K	$496K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Hyperliquid. 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 HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now −0.044%Rate

Funding earned: $21.13
Price spread: −0.044% → −0.008%: −$3.55
Slippage, 4 orders: −$53.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$54.63
Costs to cover: 0.722%
Break-even: 25.1 days

Slippage from Hyperliquid: live order book, 5 min ago; Kraken Futures: live order book, 25 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 Hyperliquid live order book, 5 min ago	2.37 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 25 min ago	13.56 bp	25.2 bp −$25	57.6 bp −$576	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	0.2918	−1.195%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2951	−0.071%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2957	+0.125%	$282K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2952	−0.061%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2952	−0.053%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0009%	1h	0.2950	−0.102%	$980K	$256K	10x	as long as short
Bybit JUPUSDT	+0.0021%	4h	0.2948	−0.186%	$15.8M	$19.2M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0038%	4h	0.2950	−0.112%	$4.1M	$12.6M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2950	−0.112%	—	—	20x	as long as short
dYdX JUP-USD	+0.0090%	1h	0.2955	+0.072%	$39K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0093%	4h	0.2946	−0.250%	$719K	$698K	—	as long as short
Lighter JUP	+0.0096%	1h	0.2955	+0.051%	$781K	$1.1M	10x	as long as short
Paradex JUP-USD-PERP	+0.0097%	8h	0.2957	+0.110%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2951	−0.086%	$597K	$511K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2953	long leg	$18.7M	$9.9M	10x
Aster JUPUSDT	+0.0100%	4h	0.2952	−0.030%	$114K	$298K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2951	−0.075%	$16.3M	$43.4M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2939	−0.497%	$61K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2951	−0.078%	$736K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2951	−0.078%	$7.5M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	−0.010%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	−0.112%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2951	−0.078%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	−0.133%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	−0.247%	$157K	$274K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2956	+0.098%	$93K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2951	−0.078%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2950	−0.112%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2955	+0.058%	$2.9M	$3.3M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2949	−0.163%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2962	+0.298%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSDshort	+0.0201%	1h	0.2952	−0.044%	$589K	$496K	20x
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2952	−0.047%	$74K	$50K	50x	as long as short
Phoenix JUP	+0.0244%	1h	0.2951	−0.074%	$97K	$329K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2954	+0.024%	$842K	$370K	50x	as long as short
Extended JUP-USD	+0.0344%	1h	0.2951	−0.088%	$2.2M	$492K	25x	as long as short