Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.4471%/8h= +489.5% APRpaid last 24h +0.539%

Price spread now: Bitget against Injective+1.259%7-day average +2.088% · you sell dearer than you buy

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+2.324%+$232 on $10k

Price spread, last 3 days (all we have)−0.592%−$59 · spread now +1.259%, 7d avg +2.088%

Together, before fees+1.731%+$173 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.828% cheaper against Injective than usual: you would sell low and buy high (spread +1.259% now, against its 7-day average of +2.088%). If the spread goes back, that is −$83 on $10k: about 15 hours of funding at the current rate (+$134 a day). At the pace of the last 7 days (+2.324% in total) that is about 2.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.324% in total (about 121.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective JUP/USDC PERP	0.2938	−0.4371	get 0.0546% / 1h	2m 45s	$3K	$206K	5.5x
Short	Bitget JUPUSDT	0.2975	0.0100	get 0.0050% / 4h	2m 45s	$5.8M	$7.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BitgetbpOrdersPrice spread, now +1.259%Rate

Funding earned: $938.82
Price spread: +1.259% → +2.088%: −$82.84
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $843.96
Costs to cover: 0.120%
Break-even: 0.7 days

Slippage unknown: Injective: live order book, 11 min ago; Bitget: live order book, 6 min ago. 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 Injective live order book, 11 min ago	104.27 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	3.36 bp	14.6 bp −$15	22.5 bp −$225	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 PERPlong	−0.4371%	1h	0.2938	long leg	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2977	+1.326%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2976	+1.308%	$600K	$589K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2974	+1.223%	$283K	$165K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0153%	1h	0.2976	+1.293%	$56K	$14K	10x	as long as short
01 Exchange JUPUSD	−0.0048%	1h	0.2977	+1.331%	$26K	$19K	5x	as long as short
Bybit JUPUSDT	−0.0043%	4h	0.2973	+1.198%	$16.2M	$22.1M	50x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2977	+1.344%	$17K	—	150x	as long as short
Variational Omni JUP	+0.0036%	4h	0.2967	+0.973%	$718K	$776K	—	as long as short
OKX JUP-USDT-SWAP	+0.0043%	4h	0.2971	+1.123%	$4.1M	$16.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2975	+1.245%	—	—	20x	as long as short
Gate JUP_USDT	+0.0066%	4h	0.2974	+1.225%	$743K	$1.8M	75x	as long as short
dYdX JUP-USD	+0.0069%	1h	0.2976	+1.278%	$39K	$32K	5x	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2976	+1.303%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2976	+1.307%	$796K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2977	+1.327%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2976	+1.293%	$617K	$648K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2980	+1.416%	$19.2M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2976	+1.283%	$115K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2973	+1.195%	$16.4M	$51.9M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2972	+1.157%	$62K	$9K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2973	+1.191%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2977	+1.327%	$4.3M	$6.9M	50x	as long as short
Bitget JUPUSDTshort	+0.0100%	4h	0.2975	+1.259%	$5.8M	$7.5M	75x
BingX JUP-USDT	+0.0100%	4h	0.2973	+1.191%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2976	+1.293%	$985K	$233K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2973	+1.191%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2973	+1.191%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2982	+1.498%	$94K	$119K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2969	+1.055%	$111K	$62K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2980	+1.430%	$2.9M	$3.9M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2974	+1.225%	$41K	—	3x	as long as short
Extended JUP-USD	+0.0112%	1h	0.2972	+1.172%	$2.2M	$508K	25x	as long as short
BloFin JUP-USDT	+0.0121%	4h	0.2976	+1.293%	$843K	$304K	50x	as long as short
Phoenix JUP	+0.0162%	1h	0.2976	+1.307%	$97K	$479K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2976	+1.280%	$75K	$91K	50x	as long as short