Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.4447%/8h= +487.0% APRpaid last 24h +0.653%

Price spread now: HTX against Injective+0.891%65s7-day average +2.060% · you sell dearer than you buy

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

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.479%+$248 on $10k

Price spread, last 3 days (all we have)−0.692%−$69 · spread now +0.891%, 7d avg +2.060%

Together, before fees+1.787%+$179 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 1.169% cheaper against Injective than usual: you would sell low and buy high (spread +0.891% now, against its 7-day average of +2.060%). If the spread goes back, that is −$117 on $10k: about 21 hours of funding at the current rate (+$133 a day). At the pace of the last 7 days (+2.479% in total) that is about 3.3 days. The two prices were read 65 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 2.479% in total (about 129.2% 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	0.2917	−0.4347	get 0.0543% / 1h	59m 54s	$3K	$206K	5.5x
Short	HTX JUP-USDT	0.2943	0.0100	get 0.0050% / 4h	1h 59m	$111K	$47K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.891%Rate

Funding earned: $933.97
Price spread: +0.891% → +2.060%: −$116.88
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: $805.07
Costs to cover: 0.120%
Break-even: 1.0 days

Slippage unknown: Injective: live order book, 4 min ago; HTX: live order book, 1 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, 4 min ago	78.26 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	10.20 bp	132.5 bp −$132	doesn't fit	doesn't fit	doesn't fit

JUP on 35 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	−0.4347%	1h	0.2917	long leg	$3K	$206K	5.5x
Pacifica JUP	−0.0353%	1h	0.2946	+1.003%	$281K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2943	+0.902%	$16K	—	100x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0191%	1h	0.2943	+0.902%	$54K	$16K	10x	as long as short
Bybit JUPUSDT	−0.0037%	4h	0.2943	+0.891%	$15.8M	$19.4M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2944	+0.934%	$588K	$503K	20x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2944	+0.936%	—	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0002%	4h	0.2945	+0.960%	$4.0M	$12.8M	50x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2942	+0.857%	—	—	20x	as long as short
dYdX JUP-USD	+0.0073%	1h	0.2949	+1.113%	$39K	$28K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0075%	4h	0.2942	+0.874%	$719K	$720K	—	as long as short
Paradex JUP-USD-PERP	+0.0094%	8h	0.2945	+0.954%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2945	+0.977%	$779K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2945	+0.968%	$595K	$516K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2949	+1.090%	$18.7M	$10.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2945	+0.962%	$114K	$317K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2944	+0.926%	$16.2M	$44.1M	75x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2944	+0.926%	$731K	$1.5M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2944	+0.926%	$7.3M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2944	+0.926%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2945	+0.960%	$5.7M	$6.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2943	+0.891%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2944	+0.912%	$975K	$237K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+1.166%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2950	+1.131%	$157K	$275K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2948	+1.046%	$93K	$108K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2944	+0.926%	$31K	$42K	10x	as long as short
HTX JUP-USDTshort	+0.0100%	4h	0.2943	+0.891%	$111K	$47K	20x
Phemex JUPUSDT	+0.0100%	4h	0.2948	+1.063%	$2.9M	$3.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2951	+1.166%	$61K	$8K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2942	+0.840%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2945	+0.960%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2950	+1.138%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2947	+1.039%	$74K	$49K	50x	as long as short
Extended JUP-USD	+0.0400%	1h	0.2943	+0.885%	$2.2M	$490K	25x	as long as short