JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0313%/8h= −34.3% APRnext payment −$0.39 per $10,000 · paid last 24h −0.005%

Price spread now: Hyperliquid against Kraken Futures+0.044%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.657%−$66 on $10k

Price spread, last 4 days (all we have)−0.141%−$14 · spread now +0.044%, 7d avg +0.013%

Together, before fees−0.798%+ Points / potential airdropHyperliquid: Season 2 · farm board−$80 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.030% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of +0.013%): +$3 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2928	0.0413	pay 0.0052% / 1h	42m 20s	$576K	$417K	20x
Short	Hyperliquid JUP	0.2929	0.0100	get 0.0013% / 1h	42m 20s	$18.1M	$8.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$65.83
Price spread: +0.044% → +0.013%: $3.02
Slippage, 4 orders: −$50.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$132.06
Costs to cover: 0.693%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 61 min ago; Hyperliquid: live order book, 11 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, 61 min ago	15.36 bp	22.5 bp −$23	96.1 bp −$961	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.17 bp	10.3 bp −$10	doesn't fit	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	−0.3836%	1h	0.2897	−1.060%	$3K	$207K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2926	−0.068%	$16K	—	100x	as long as short
Pacifica JUP	−0.0058%	1h	0.2924	−0.141%	$279K	$138K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2926	−0.077%	—	—	150x	as long as short
dYdX JUP-USD	+0.0044%	1h	0.2923	−0.157%	$39K	$15K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2926	−0.069%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2927	−0.032%	$758K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0099%	8h	0.2925	−0.100%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2925	−0.086%	$572K	$491K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2929	+0.044%	$18.1M	$8.9M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JUPUSDT	+0.0100%	4h	0.2927	−0.043%	$99K	$296K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2927	−0.043%	$16.0M	$39.0M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2924	−0.137%	$15.9M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2927	−0.035%	$4.1M	$10.2M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2913	−0.496%	$60K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2922	−0.206%	$700K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2925	−0.103%	$6.7M	$5.5M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2926	−0.069%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2927	−0.035%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2925	−0.103%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2922	−0.223%	$967K	$223K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2927	−0.037%	$708K	$530K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2928	−0.005%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2928	−0.001%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2929	+0.040%	$93K	$106K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2927	−0.035%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2921	−0.240%	$110K	$42K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2924	−0.154%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0152%	1h	0.2927	−0.038%	$26K	$6K	5x	as long as short
Extended JUP-USD	+0.0176%	1h	0.2925	−0.104%	$2.2M	$573K	25x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0194%	1h	0.2928	−0.018%	$53K	$17K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2931	+0.098%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2920	−0.274%	$819K	$371K	50x	as long as short
Phoenix JUP	+0.0355%	1h	0.2930	+0.085%	$105K	$284K	10x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0413%	1h	0.2928	long leg	$576K	$417K	20x
Phemex JUPUSDT	+0.0431%	4h	0.2924	−0.137%	$2.9M	$3.0M	50x	as long as short