Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.4761%/8h= +521.3% APRpaid last 24h +0.771%

Price spread now: Gate against Injective+0.790%54s7-day average +2.003% · you sell dearer than you buy

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+2.523%+$252 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now +0.790%, 7d avg +2.003%

Together, before fees+2.632%+$263 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 1.212% cheaper against Injective than usual: you would sell low and buy high (spread +0.790% now, against its 7-day average of +2.003%). If the spread goes back, that is −$121 on $10k: about 20 hours of funding at the current rate (+$143 a day). At the pace of the last 7 days (+2.523% in total) that is about 3.4 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.523% in total (about 131.6% 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	0.2910	−0.4661	get 0.0583% / 1h	50m 27s	$3K	$206K	5.5x
Short	Gate JUP_USDT	0.2933	0.0100	get 0.0050% / 4h	50m 27s	$728K	$1.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.790%Rate

Funding earned: $999.8
Price spread: +0.790% → +2.003%: −$121.23
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $863.54
Costs to cover: 0.150%
Break-even: 1.0 days

Slippage unknown: Injective: live order book, 8 min ago; Gate: live order book, 2 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, 8 min ago	101.69 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	5.11 bp	22.5 bp −$23	121.6 bp −$1,216	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	−0.4661%	1h	0.2910	long leg	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2936	+0.886%	$16K	—	100x	as long as short
Pacifica JUP	−0.0125%	1h	0.2937	+0.941%	$280K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2938	+0.945%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2936	+0.884%	—	—	150x	as long as short
dYdX JUP-USD	+0.0002%	1h	0.2936	+0.876%	$38K	$26K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2934	+0.808%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0064%	1h	0.2937	+0.921%	$26K	$19K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2938	+0.962%	$777K	$1.0M	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0096%	1h	0.2939	+0.980%	$588K	$489K	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	+0.0098%	8h	0.2938	+0.969%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2935	+0.859%	$592K	$502K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2938	+0.955%	$18.6M	$9.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2937	+0.936%	$113K	$288K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2935	+0.859%	$16.2M	$42.4M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2931	+0.722%	$15.8M	$18.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2934	+0.825%	$4.0M	$12.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+1.615%	$62K	$8K	10x	as long as short
Gate JUP_USDTshort	+0.0100%	4h	0.2933	+0.790%	$728K	$1.4M	75x
MEXC JUP_USDT	+0.0100%	4h	0.2934	+0.825%	$7.3M	$6.4M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2935	+0.859%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2935	+0.859%	$5.7M	$5.8M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2934	+0.825%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2938	+0.969%	$974K	$241K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2933	+0.790%	$717K	$693K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	+1.340%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2950	+1.375%	$157K	$265K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2938	+0.952%	$92K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2935	+0.859%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2931	+0.722%	$110K	$49K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2944	+1.168%	$2.9M	$3.2M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2935	+0.868%	$40K	—	3x	as long as short
Coinbase International JUP-PERP-INTX	+0.0208%	1h	0.2944	+1.172%	$74K	$49K	50x	as long as short
Phoenix JUP	+0.0271%	1h	0.2965	+1.887%	$99K	$304K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2936	+0.893%	$841K	$381K	50x	as long as short
Extended JUP-USD	+0.0384%	1h	0.2933	+0.799%	$2.2M	$502K	25x	as long as short