Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.054%

Price spread now: Polymarket Perps against Hyperliquid+0.047%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$540.540% of the position

Long on Hyperliquid Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.279%−$28 on $10k

Price spread, last 3 days (all we have)+0.507%+$51 · spread now +0.047%, 7d avg +0.013%

Together, before fees+0.228%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.034% dearer against Hyperliquid than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JUP	0.2968	0.0100	pay 0.0013% / 1h	37m 08s	$19.0M	$14.1M	10x
Short	Polymarket Perps JUP-USD	0.2970	0.0100	get 0.0013% / 1h	37m 08s	$94K	$137K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → +0.013%: $3.4
Slippage, 4 orders: −$37.01
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$50.61
Costs to cover: 0.540%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Polymarket Perps: live order book, 49 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, 6 min ago	1.18 bp	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 49 min ago	12.53 bp	16.5 bp −$17	doesn't fit	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	0.2930	−1.290%	$3K	$154K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0751% / S +0.0259%	1h	0.2966	−0.070%	$13K	—	100x	as long as short
Bybit JUPUSDT	−0.0295%	4h	0.2964	−0.145%	$16.2M	$24.2M	50x	as long as short
Phoenix JUP	0.0000%	1h	0.2963	−0.185%	$94K	$447K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2967	−0.034%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2966	−0.071%	$17K	—	150x	as long as short
Kraken Futures PF_JUPUSD	+0.0009%	1h	0.2967	−0.055%	$602K	$623K	20x	as long as short
Gate JUP_USDT	+0.0012%	4h	0.2964	−0.145%	$739K	$1.9M	75x	as long as short
dYdX JUP-USD	+0.0020%	1h	0.2965	−0.114%	$39K	$36K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2966	−0.080%	—	—	20x	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	0.2971	+0.084%	$26K	$19K	5x	as long as short
Backpack JUP_USDC_PERP	+0.0077%	1h	0.2966	−0.064%	$984K	$268K	10x	as long as short
Variational Omni JUP	+0.0089%	4h	0.2965	−0.111%	$725K	$1.2M	—	as long as short
Paradex JUP-USD-PERP	+0.0090%	8h	0.2967	−0.048%	$9K	$15K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2969	+0.013%	$890K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2966	−0.077%	$31K	$51K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2966	−0.077%	$598K	$667K	10x	as long as short
Hyperliquid JUPlong	+0.0100%	1h	0.2968	long leg	$19.0M	$14.1M	10x
Aster JUPUSDT	+0.0100%	4h	0.2964	−0.139%	$107K	$366K	10x	as long as short
Pacifica JUP	+0.0100%	1h	0.2965	−0.110%	$282K	$183K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2966	−0.077%	$16.4M	$56.4M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2964	−0.145%	$4.1M	$16.7M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2966	−0.077%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2967	−0.044%	$4.5M	$7.2M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2964	−0.145%	$5.6M	$8.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2964	−0.145%	—	$21.6M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2970	+0.046%	$1.6M	$4.2M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2966	−0.077%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USDshort	+0.0100%	1h	0.2970	+0.047%	$94K	$137K	10x
HTX JUP-USDT	+0.0100%	4h	0.2958	−0.347%	$111K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2969	+0.024%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	−0.094%	$58K	$4K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2963	−0.195%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0148%	4h	0.2967	−0.044%	$862K	$329K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0248%	1h	0.2988	+0.654%	$74K	$95K	50x	as long as short
Extended JUP-USD	+0.0264%	1h	0.2963	−0.164%	$2.2M	$539K	25x	as long as short