Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h −0.066%

Price spread now: OKX against Hyperliquid−0.292%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 7 days+0.280%+$28 · spread now −0.292%, 7d avg −0.114%

Together, before fees+0.205%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.178% cheaper against Hyperliquid than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.114%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.3029	0.0100	pay 0.0013% / 1h	13m 30s	$19.5M	$11.7M	10x
Short	OKX JUP-USDT-SWAP	0.3020	−0.0023	pay 0.0012% / 4h	3h 13m	$4.1M	$15.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.292%Rate

Funding earned: −$25.92
Price spread: −0.292% → −0.114%: −$17.77
Slippage, 4 orders: −$31.95
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$94.63
Costs to cover: 0.509%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; OKX: live order book, 5 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, 9 min ago	0.66 bp	13.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	3.32 bp	14.7 bp −$15	57.5 bp −$575	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	−0.4634%	1h	0.2973	−1.844%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.3023	−0.200%	$288K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.3028	−0.040%	$17K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0100%	1h	0.3028	−0.013%	$610K	$526K	20x	as long as short
01 Exchange JUPUSD	−0.0056%	1h	0.3021	−0.246%	$27K	$19K	5x	as long as short
OKX JUP-USDT-SWAPshort	−0.0023%	4h	0.3020	−0.292%	$4.1M	$15.8M	50x
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.3027	−0.057%	$56K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3027	−0.050%	$1K	—	150x	as long as short
dYdX JUP-USD	+0.0048%	1h	0.3025	−0.143%	$39K	$31K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.3019	−0.324%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0079%	8h	0.3021	−0.243%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.3026	−0.081%	$758K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3027	−0.061%	$32K	$45K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.3019	−0.317%	$626K	$626K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.3029	long leg	$19.5M	$11.7M	10x
Aster JUPUSDT	+0.0100%	4h	0.3026	−0.085%	$117K	$328K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3023	−0.209%	$16.6M	$48.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.3020	−0.279%	$16.6M	$20.6M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.3001	−0.919%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3023	−0.193%	$760K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3023	−0.193%	$7.9M	$7.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3023	−0.193%	$4.1M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3022	−0.226%	$5.9M	$6.8M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3023	−0.193%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3029	+0.002%	$1.0M	$229K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.3009	−0.654%	$728K	$771K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.3017	−0.391%	$1.7M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.3016	−0.424%	$160K	$308K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3025	−0.117%	$96K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.3017	−0.391%	$114K	$54K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3031	+0.071%	$3.0M	$3.7M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.3020	−0.305%	$2.2M	$489K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.3025	−0.110%	$41K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.3019	−0.322%	$98K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3027	−0.057%	$75K	$61K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.3012	−0.556%	$854K	$347K	50x	as long as short