Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.001%

Price spread now: Lighter against KuCoin−0.044%7-day average +0.057% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

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

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 4 days (all we have)+0.085%+$8 · spread now −0.044%, 7d avg +0.057%

Together, before fees+0.181%+ Points / potential airdropLighter: Season 3 · farm board+$18 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: Lighter is 0.101% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin JUPUSDTM	0.2950	0.0100	pay 0.0050% / 4h	1h 55m	$4.0M	$6.7M	50x
Short	Lighter JUP	0.2949	0.0096	get 0.0012% / 1h	55m 32s	$780K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$0.84
Price spread: −0.044% → +0.057%: −$10.08
Slippage, 4 orders: −$81.19
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$104.11
Costs to cover: 0.932%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Lighter: live order book, 5 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, 2 min ago	3.41 bp	46.0 bp −$46	187.6 bp −$1,876	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	2.20 bp	10.4 bp −$10	56.0 bp −$560	doesn't fit	doesn't fit

JUP on 35 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	0.2904	−1.559%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2956	+0.203%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2948	−0.084%	$281K	$147K	10x	as long as short
Bybit JUPUSDT	−0.0038%	4h	0.2944	−0.217%	$15.8M	$19.4M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	+0.220%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2955	+0.181%	—	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0004%	4h	0.2945	−0.169%	$4.1M	$12.7M	50x	as long as short
dYdX JUP-USD	+0.0014%	1h	0.2948	−0.054%	$39K	$27K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2955	+0.153%	—	—	20x	as long as short
Backpack JUP_USDC_PERP	+0.0072%	1h	0.2954	+0.132%	$981K	$224K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni JUP	+0.0077%	4h	0.2954	+0.136%	$717K	$718K	—	as long as short
Paradex JUP-USD-PERP	+0.0095%	8h	0.2946	−0.133%	$9K	$11K	10x	as long as short
Lighter JUPshort	+0.0096%	1h	0.2949	−0.044%	$780K	$1.1M	10x
Nado JUP-PERP	+0.0100%	1h	0.2954	+0.153%	$597K	$510K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2952	+0.058%	$18.7M	$10.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2951	+0.049%	$114K	$308K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2946	−0.119%	$16.2M	$43.8M	75x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2949	−0.034%	$732K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2948	−0.068%	$7.4M	$6.5M	200x	as long as short
KuCoin JUPUSDTMlong	+0.0100%	4h	0.2950	long leg	$4.0M	$6.7M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2947	−0.102%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2947	−0.102%	—	$20.8M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2937	−0.456%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2936	−0.475%	$156K	$275K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	+0.322%	$93K	$108K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2956	+0.203%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2946	−0.136%	$111K	$46K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2957	+0.237%	$2.9M	$3.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2945	−0.179%	$61K	$8K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2957	+0.248%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0120%	1h	0.2949	−0.024%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2950	+0.007%	$97K	$328K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0200%	1h	0.2956	+0.199%	$590K	$498K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2937	−0.431%	$74K	$49K	50x	as long as short
Extended JUP-USD	+0.0384%	1h	0.2945	−0.168%	$2.2M	$490K	25x	as long as short