Funding arb · Price arb /

JUP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.4404%/8h= +482.3% APRnext payment +$5.51 per $10,000 · paid last 24h —

Price spread now: Reya against Injective+1.542%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$132 a day on $10k at the current rate, and Reya is 1.542% dearer against Injective than usual: you sell high and buy low: +$154 more if the spread goes back to zero (this spread has no 7-day history 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	20m 52s	$3K	$206K	5.5x
Short	Reya JUPRUSDPERP	0.2962	0.0057	get 0.0007% / 1h	20m 52s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +1.542%Rate

Funding earned: $924.88
Price spread: +1.542% → 0.000%: $154.22
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Reya: 3 bp × 2 orders: −$6
Net: $1,073.08
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: live order book, 48 min ago; Reya: no order-book sample. 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, 48 min ago	86.38 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2960	+1.490%	$282K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2963	+1.565%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0209%	4h	0.2956	+1.351%	$15.9M	$20.0M	50x	as long as short
OKX JUP-USDT-SWAP	−0.0046%	4h	0.2958	+1.406%	$4.1M	$13.8M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2964	+1.597%	$592K	$515K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2963	+1.580%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2963	+1.567%	—	—	150x	as long as short
Variational Omni JUP	+0.0014%	4h	0.2958	+1.404%	$722K	$751K	—	as long as short
dYdX JUP-USD	+0.0027%	1h	0.2963	+1.591%	$39K	$29K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0034%	4h	0.2962	+1.543%	$739K	$1.5M	75x	as long as short
Reya JUPRUSDPERPshort	+0.0057%	1h	0.2962	+1.542%	—	—	20x
Paradex JUP-USD-PERP	+0.0091%	8h	0.2961	+1.525%	$9K	$11K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2965	+1.642%	$784K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2962	+1.543%	$31K	$43K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2961	+1.500%	$601K	$535K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2964	+1.625%	$18.8M	$10.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2962	+1.553%	$114K	$321K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2960	+1.467%	$16.4M	$45.5M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2964	+1.611%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2960	+1.474%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2961	+1.508%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2960	+1.474%	$5.8M	$6.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2958	+1.406%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2962	+1.529%	$981K	$235K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2964	+1.611%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2963	+1.577%	$157K	$288K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2965	+1.635%	$94K	$109K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2957	+1.371%	$112K	$49K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2968	+1.748%	$2.9M	$3.5M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2959	+1.451%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2965	+1.635%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2967	+1.721%	$98K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2967	+1.728%	$75K	$51K	50x	as long as short
Extended JUP-USD	+0.0432%	1h	0.2958	+1.421%	$2.2M	$486K	25x	as long as short