Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Phemex against KuCoin+0.202%7-day average +0.129% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1081.085% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.123%+$12 on $10k

Price spread, last 3 days (all we have)−0.033%−$3 · spread now +0.202%, 7d avg +0.129%

Together, before fees+0.090%+$9 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: Phemex is 0.072% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.129%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin JUPUSDTM	0.2975	0.0100	pay 0.0050% / 4h	18m 39s	$4.2M	$6.9M	50x
Short	Phemex JUPUSDT	0.2981	0.0100	get 0.0050% / 4h	18m 39s	$2.9M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.202%Rate

Funding earned: $0
Price spread: +0.202% → +0.129%: $7.25
Slippage, 4 orders: −$84.47
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$101.23
Costs to cover: 1.085%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Phemex: 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, 4 min ago	3.36 bp	36.6 bp −$37	101.4 bp −$1,014	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.68 bp	22.6 bp −$23	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	−0.4371%	1h	0.2938	−1.244%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2977	+0.075%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2977	+0.073%	$600K	$597K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2972	−0.095%	$283K	$165K	10x	as long as short
Bybit JUPUSDT	−0.0060%	4h	0.2971	−0.148%	$16.2M	$22.3M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0019%	1h	0.2977	+0.067%	$56K	$14K	10x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.2974	−0.017%	$26K	$19K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2977	+0.078%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0050%	4h	0.2974	−0.034%	$741K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2975	−0.014%	—	—	20x	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	+0.0067%	1h	0.2975	−0.015%	$39K	$33K	5x	as long as short
Variational Omni JUP	+0.0068%	4h	0.2976	+0.037%	$720K	$829K	—	as long as short
BloFin JUP-USDT	+0.0071%	4h	0.2974	−0.034%	$851K	$320K	50x	as long as short
Paradex JUP-USD-PERP	+0.0084%	8h	0.2973	−0.078%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2975	+0.013%	$795K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2977	+0.067%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2974	−0.017%	$616K	$654K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2975	+0.016%	$115K	$361K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2972	−0.100%	$16.3M	$52.3M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2970	−0.168%	$4.0M	$16.2M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2975	+0.004%	$62K	$10K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2973	−0.067%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTMlong	+0.0100%	4h	0.2975	long leg	$4.2M	$6.9M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2972	−0.101%	$5.8M	$7.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2973	−0.067%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2976	+0.030%	$985K	$236K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2971	−0.122%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2971	−0.134%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2982	+0.225%	$94K	$123K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2969	−0.202%	$111K	$62K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2981	+0.202%	$2.9M	$3.9M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2974	−0.034%	$41K	—	3x	as long as short
Hyperliquid JUP	+0.0108%	1h	0.2977	+0.081%	$19.1M	$13.1M	10x	as long as short
Phoenix JUP	+0.0162%	1h	0.2984	+0.303%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0208%	1h	0.2970	−0.162%	$2.2M	$507K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2978	+0.101%	$74K	$91K	50x	as long as short