Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0162%/8h= +17.8% APRpaid last 24h −0.013%

Price spread now: BloFin against Kraken Futures−0.132%7-day average −0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$760.758% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.347%−$35 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now −0.132%, 7d avg −0.102%

Together, before fees−0.398%−$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.031% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.132% now, against its 7-day average of −0.102%). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.347%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2955	0.0178	pay 0.0022% / 1h	24m 34s	$591K	$467K	20x
Short	BloFin JUP-USDT	0.2951	0.0340	get 0.0170% / 4h	3h 24m	$831K	$374K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.132%Rate

Funding earned: $34.12
Price spread: −0.132% → −0.102%: −$3.07
Slippage, 4 orders: −$53.8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$44.75
Costs to cover: 0.758%
Break-even: 16.2 days

Slippage from Kraken Futures: live order book, 28 min ago; BloFin: live order book, 7 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, 28 min ago	16.83 bp	26.4 bp −$26	133.8 bp −$1,338	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	1.68 bp	18.9 bp −$19	34.2 bp −$342	100.6 bp −$10.1K	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	0.2926	−0.978%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2954	−0.034%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2953	−0.078%	$281K	$146K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0021%	1h	0.2954	−0.048%	$54K	$16K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2956	+0.053%	$39K	$21K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2955	−0.007%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0035%	1h	0.2954	−0.041%	$976K	$185K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2951	−0.125%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2955	+0.013%	$779K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2952	−0.114%	$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	0.2953	−0.081%	$595K	$489K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2955	−0.004%	$18.5M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2955	−0.012%	$110K	$286K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2952	−0.103%	$16.2M	$39.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2950	−0.169%	$15.9M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2952	−0.098%	$4.0M	$11.0M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2954	−0.031%	$734K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2952	−0.098%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2953	−0.064%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2953	−0.064%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2952	−0.098%	—	$20.7M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2954	−0.032%	$720K	$624K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2963	+0.275%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2959	+0.139%	$163K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2956	+0.023%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2955	+0.003%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2951	−0.132%	$111K	$44K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2958	+0.105%	$2.9M	$3.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2954	−0.031%	$61K	−$0	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2953	−0.054%	$40K	—	3x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0178%	1h	0.2955	long leg	$591K	$467K	20x
01 Exchange JUPUSD	+0.0184%	1h	0.2954	−0.044%	$26K	$17K	5x	as long as short
Phoenix JUP	+0.0216%	1h	0.2967	+0.399%	$98K	$283K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2962	+0.240%	$75K	$50K	50x	as long as short
Extended JUP-USD	+0.0280%	1h	0.2951	−0.144%	$2.2M	$500K	25x	as long as short
BloFin JUP-USDTshort	+0.0340%	4h	0.2951	−0.132%	$831K	$374K	50x