Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.052%

Price spread now: Hyperliquid against KuCoin+0.183%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

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

costs, in and out, $10k−$930.932% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 7 days−0.192%−$19 · spread now +0.183%, 7d avg +0.039%

Together, before fees−0.099%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.144% dearer against KuCoin than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin JUPUSDTM	0.2947	0.0100	pay 0.0050% / 4h	1h 33m	$4.3M	$7.2M	50x
Short	Hyperliquid JUP	0.2952	0.0100	get 0.0013% / 1h	33m 47s	$18.9M	$13.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.183%Rate

Funding earned: $0
Price spread: +0.183% → +0.039%: $14.42
Slippage, 4 orders: −$72.16
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$78.74
Costs to cover: 0.932%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Hyperliquid: live order book, 9 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 KuCoin live order book, 4 min ago	5.08 bp	32.2 bp −$32	136.0 bp −$1,360	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.68 bp	10.6 bp −$11	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	−0.3508%	1h	0.2918	−0.984%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2946	−0.034%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2944	−0.098%	$280K	$172K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0191%	1h	0.2946	−0.024%	$56K	$14K	10x	as long as short
Kraken Futures PF_JUPUSD	−0.0176%	1h	0.2947	+0.007%	$599K	$619K	20x	as long as short
01 Exchange JUPUSD	−0.0104%	1h	0.2942	−0.156%	$26K	$19K	5x	as long as short
Gate JUP_USDT	−0.0036%	4h	0.2944	−0.102%	$732K	$1.9M	75x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2947	−0.014%	$17K	—	150x	as long as short
Bybit JUPUSDT	+0.0021%	4h	0.2946	−0.034%	$16.1M	$23.7M	50x	as long as short
BloFin JUP-USDT	+0.0051%	4h	0.2945	−0.068%	$846K	$322K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0055%	1h	0.2949	+0.055%	$39K	$35K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2941	−0.215%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0061%	8h	0.2943	−0.128%	$9K	$14K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2950	+0.095%	$791K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2941	−0.195%	$610K	$672K	10x	as long as short
Hyperliquid JUPshort	+0.0100%	1h	0.2952	+0.183%	$18.9M	$13.9M	10x
Aster JUPUSDT	+0.0100%	4h	0.2946	−0.021%	$106K	$365K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2947	+0.008%	$16.3M	$55.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2947	0.000%	$4.0M	$16.6M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2946	−0.034%	$7.9M	$8.0M	200x	as long as short
KuCoin JUPUSDTMlong	+0.0100%	4h	0.2947	long leg	$4.3M	$7.2M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2947	0.000%	$5.6M	$8.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2946	−0.034%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2946	−0.024%	$975K	$259K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2943	−0.130%	$712K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2949	+0.068%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2959	+0.407%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2947	−0.017%	$93K	$135K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2946	−0.034%	$31K	$51K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2936	−0.373%	$110K	$69K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2951	+0.136%	$2.9M	$4.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2957	+0.339%	$57K	$3K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2947	−0.001%	$2.2M	$541K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2948	+0.022%	$40K	—	3x	as long as short
Phoenix JUP	+0.0190%	1h	0.2959	+0.400%	$95K	$441K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2989	+1.442%	$74K	$94K	50x	as long as short