Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0318%/8h= −34.9% APRnext payment −$0.40 per $10,000 · paid last 24h —

Price spread now: Reya against Kraken Futures−0.146%48s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 against this trade now: funding costs −$10 a day on $10k at the current rate, and Reya is 0.146% cheaper against Kraken Futures than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_JUPUSD	0.2933	0.0375	pay 0.0047% / 1h	48m 31s	$579K	$463K	20x
Short	Reya JUPRUSDPERP	0.2929	0.0057	get 0.0007% / 1h	48m 31s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. 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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now −0.146%Rate

Funding earned: −$66.85
Price spread: −0.146% → 0.000%: −$14.57
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$97.42
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 59 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 Kraken Futures live order book, 59 min ago	20.33 bp	26.9 bp −$27	129.0 bp −$1,290	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 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	0.2900	−1.136%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2932	−0.029%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2932	−0.037%	$279K	$142K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2933	−0.014%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2934	+0.013%	—	—	150x	as long as short
dYdX JUP-USD	+0.0020%	1h	0.2936	+0.106%	$39K	$19K	5x	as long as short
Reya JUPRUSDPERPshort	+0.0057%	1h	0.2929	−0.146%	—	—	20x
Lighter JUP	+0.0096%	1h	0.2935	+0.068%	$761K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2932	−0.053%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2933	−0.011%	$575K	$494K	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	0.2932	−0.038%	$18.1M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2934	+0.018%	$107K	$282K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2930	−0.113%	$16.1M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2928	−0.181%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2929	−0.147%	$4.1M	$10.8M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2934	+0.023%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2932	−0.045%	$704K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2930	−0.113%	$6.7M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2933	−0.011%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2932	−0.045%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2932	−0.045%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2934	+0.027%	$971K	$232K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2932	−0.044%	$711K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2935	+0.058%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2935	+0.058%	$162K	$256K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2934	+0.027%	$92K	$103K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2933	−0.011%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2925	−0.283%	$110K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2931	−0.085%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2932	−0.062%	$26K	$8K	5x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2930	−0.106%	$2.2M	$570K	25x	as long as short
Phoenix JUP	+0.0244%	1h	0.2936	+0.085%	$98K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2940	+0.245%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2933	−0.011%	$829K	$378K	50x	as long as short
Kraken Futures PF_JUPUSDlong	+0.0375%	1h	0.2933	long leg	$579K	$463K	20x
Phemex JUPUSDT	+0.0569%	4h	0.2938	+0.160%	$2.9M	$3.0M	50x	as long as short