Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0078%/8h= −8.5% APRpaid last 24h −0.026%

Price spread now: Bitget against Kraken Futures−0.049%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.691%−$69 on $10k

Price spread, last 4 days (all we have)−0.246%−$25 · spread now −0.049%, 7d avg −0.116%

Together, before fees−0.936%−$94 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.067% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.049% now, against its 7-day average of −0.116%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.691% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2947	0.0178	pay 0.0022% / 1h	59m 48s	$585K	$470K	20x
Short	Bitget JUPUSDT	0.2946	0.0100	get 0.0050% / 4h	2h 59m	$5.8M	$5.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$16.38
Price spread: −0.049% → −0.116%: $6.68
Slippage, 4 orders: −$56.11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$87.81
Costs to cover: 0.781%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 53 min ago; Bitget: live order book, 3 min ago.

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 Kraken Futures live order book, 53 min ago	16.83 bp	26.4 bp −$26	133.8 bp −$1,338	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	5.09 bp	14.5 bp −$15	25.9 bp −$259	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 PERP	−0.5000%	1h	0.2918	−0.999%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2946	−0.038%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2945	−0.090%	$281K	$146K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2944	−0.101%	$38K	$21K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2947	−0.009%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2946	−0.040%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2945	−0.074%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2951	+0.124%	$778K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2946	−0.058%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2946	−0.041%	$594K	$487K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2948	+0.015%	$18.5M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2949	+0.053%	$110K	$273K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2945	−0.088%	$16.1M	$39.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2943	−0.161%	$15.8M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2946	−0.049%	$4.1M	$11.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2947	−0.015%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2945	−0.083%	$732K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2945	−0.083%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2945	−0.083%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDTshort	+0.0100%	4h	0.2946	−0.049%	$5.8M	$5.3M	75x
BingX JUP-USDT	+0.0100%	4h	0.2945	−0.083%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2946	−0.036%	$973K	$187K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2939	−0.287%	$719K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+0.120%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2946	−0.049%	$162K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2952	+0.141%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2946	−0.049%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2939	−0.287%	$110K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2951	+0.120%	$2.9M	$3.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2944	−0.100%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2949	+0.056%	$26K	$17K	5x	as long as short
Extended JUP-USD	+0.0176%	1h	0.2943	−0.153%	$2.2M	$507K	25x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0178%	1h	0.2947	long leg	$585K	$470K	20x
Phoenix JUP	+0.0216%	1h	0.2947	−0.029%	$97K	$283K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2968	+0.690%	$75K	$50K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2943	−0.151%	$829K	$377K	50x	as long as short