Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h −0.046%

Price spread now: KuCoin against Hyperliquid−0.054%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$900.904% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 7 days+0.062%+$6 · spread now −0.054%, 7d avg −0.039%

Together, before fees−0.030%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2981	0.0149	pay 0.0019% / 1h	52m 03s	$19.2M	$13.2M	10x
Short	KuCoin JUPUSDTM	0.2979	0.0100	get 0.0050% / 4h	52m 03s	$4.3M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$10.19
Price spread: −0.054% → −0.039%: −$1.46
Slippage, 4 orders: −$69.38
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$102.03
Costs to cover: 0.904%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; KuCoin: live order book, 6 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, 11 min ago	0.34 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	6.72 bp	39.5 bp −$40	116.6 bp −$1,166	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	−0.4371%	1h	0.2935	−1.530%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2976	−0.164%	$15K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2976	−0.161%	$602K	$618K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2979	−0.037%	$284K	$169K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2976	−0.164%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2977	−0.122%	$17K	—	150x	as long as short
BloFin JUP-USDT	+0.0052%	4h	0.2983	+0.081%	$848K	$330K	50x	as long as short
Gate JUP_USDT	+0.0056%	4h	0.2976	−0.154%	$748K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2973	−0.243%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0057%	4h	0.2976	−0.154%	$16.3M	$23.0M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0064%	1h	0.2978	−0.077%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERP	+0.0081%	8h	0.2976	−0.143%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2978	−0.097%	$800K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2975	−0.188%	$614K	$664K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2978	−0.093%	$108K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2978	−0.087%	$16.4M	$53.9M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2979	−0.054%	$4.1M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2979	−0.054%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTMshort	+0.0100%	4h	0.2979	−0.054%	$4.3M	$7.0M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2978	−0.087%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2976	−0.154%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2977	−0.138%	$985K	$246K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2972	−0.285%	$718K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2977	−0.123%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2974	−0.221%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.087%	$94K	$129K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2976	−0.154%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2972	−0.289%	$112K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2981	+0.013%	$2.9M	$4.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2966	−0.490%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2973	−0.272%	$41K	—	3x	as long as short
dYdX JUP-USD	+0.0126%	1h	0.2981	+0.029%	$39K	$34K	5x	as long as short
Hyperliquid JUPlong	+0.0149%	1h	0.2981	long leg	$19.2M	$13.2M	10x
Phoenix JUP	+0.0162%	1h	0.2973	−0.248%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0216%	1h	0.2979	−0.056%	$2.2M	$506K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2979	−0.050%	$74K	$95K	50x	as long as short