Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.5100%/8h= +558.5% APRpaid last 24h +0.854%

Price spread now: MEXC against Injective+1.164%85s7-day average +2.009% · you sell dearer than you buy

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

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+2.628%+$263 on $10k

Price spread, last 4 days (all we have)−0.615%−$62 · spread now +1.164%, 7d avg +2.009%

Together, before fees+2.013%+$201 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.845% cheaper against Injective than usual: you would sell low and buy high (spread +1.164% now, against its 7-day average of +2.009%). If the spread goes back, that is −$84 on $10k: about 13 hours of funding at the current rate (+$153 a day). At the pace of the last 7 days (+2.628% in total) that is about 2.2 days. The two prices were read 85 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 2.628% in total (about 137.0% 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	0.2921	−0.5000	get 0.0625% / 1h	49m 56s	$3K	$206K	5.5x
Short	MEXC JUP_USDT	0.2955	0.0100	get 0.0050% / 4h	3h 49m	$7.3M	$6.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. 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 InjectivebpFee MEXCbpOrdersPrice spread, now +1.164%Rate

Funding earned: $1,071
Price spread: +1.164% → +2.009%: −$84.45
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: $986.53
Costs to cover: 0.000%
Break-even: 0.6 days

Slippage unknown: Injective: live order book, 4 min ago; MEXC: 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, 4 min ago	79.84 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	5.06 bp	7.8 bp −$8	19.2 bp −$192	96.1 bp −$9,613	251.3 bp −$125.7K

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	−0.5000%	1h	0.2921	long leg	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2953	+1.109%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2956	+1.196%	$282K	$146K	10x	as long as short
Backpack JUP_USDC_PERP	−0.0136%	1h	0.2954	+1.137%	$976K	$195K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0021%	1h	0.2954	+1.116%	$54K	$16K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2958	+1.284%	$39K	$22K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2955	+1.171%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2953	+1.080%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2957	+1.239%	$781K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2955	+1.173%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2955	+1.155%	$601K	$486K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2958	+1.253%	$18.6M	$9.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2955	+1.148%	$110K	$286K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2953	+1.108%	$16.2M	$40.2M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2951	+1.027%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2953	+1.096%	$4.0M	$11.3M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2960	+1.348%	$62K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2953	+1.096%	$734K	$1.4M	75x	as long as short
MEXC JUP_USDTshort	+0.0100%	4h	0.2955	+1.164%	$7.3M	$6.2M	200x
KuCoin JUPUSDTM	+0.0100%	4h	0.2954	+1.130%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2955	+1.164%	$5.8M	$5.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2953	+1.096%	—	$20.7M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2961	+1.369%	$722K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2971	+1.714%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2970	+1.678%	$158K	$251K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2957	+1.232%	$94K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2954	+1.130%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2949	+0.959%	$111K	$45K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2960	+1.335%	$2.9M	$3.1M	50x	as long as short
01 Exchange JUPUSD	+0.0104%	1h	0.2956	+1.195%	$26K	$17K	5x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	+1.131%	$40K	—	3x	as long as short
Kraken Futures PF_JUPUSD	+0.0177%	1h	0.2956	+1.204%	$591K	$469K	20x	as long as short
Extended JUP-USD	+0.0192%	1h	0.2952	+1.059%	$2.2M	$496K	25x	as long as short
Phoenix JUP	+0.0216%	1h	0.2962	+1.397%	$97K	$283K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2970	+1.684%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2964	+1.472%	$836K	$376K	50x	as long as short