Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.004%

Price spread now: BingX against Lighter−0.218%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.218%, 7d avg −0.105%

Together, before fees+0.111%+ Points / potential airdropLighter: Season 3 · farm board+$11 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: BingX is 0.112% cheaper against Lighter than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2989	0.0096	pay 0.0012% / 1h	58m 13s	$799K	$1.3M	10x
Short	BingX JUP-USDT	0.2982	0.0100	get 0.0050% / 4h	3h 58m	—	$20.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.218%Rate

Funding earned: $0.84
Price spread: −0.218% → −0.105%: −$11.2
Slippage, 4 orders: −$21.8
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$42.16
Costs to cover: 0.318%
Break-even: 358.4 days

Slippage from Lighter: live order book, 8 min ago; BingX: live order book, 15 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 Lighter live order book, 8 min ago	3.36 bp	8.9 bp −$9	44.9 bp −$449	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	1.68 bp	6.7 bp −$7	11.5 bp −$115	24.7 bp −$2,472	65.9 bp −$33.0K

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	−0.4634%	1h	0.2998	+0.318%	$3K	$206K	5.5x	as long as short
Gate JUP_USDT	−0.0444%	4h	0.2981	−0.251%	$744K	$1.5M	75x	as long as short
Bybit JUPUSDT	−0.0388%	4h	0.2980	−0.284%	$16.2M	$22.0M	50x	as long as short
Pacifica JUP	−0.0356%	1h	0.2979	−0.313%	$284K	$158K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2984	−0.156%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0101%	1h	0.2987	−0.051%	$602K	$588K	20x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2982	−0.232%	$39K	$32K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2984	−0.167%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2983	−0.168%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0016%	1h	0.2983	−0.181%	$26K	$19K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX JUP-USDT-SWAP	+0.0042%	4h	0.2980	−0.284%	$4.1M	$16.2M	50x	as long as short
Variational Omni JUP	+0.0052%	4h	0.2976	−0.415%	$719K	$776K	—	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2979	−0.307%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.2979	−0.310%	$9K	$13K	10x	as long as short
BloFin JUP-USDT	+0.0092%	4h	0.2984	−0.151%	$843K	$304K	50x	as long as short
Lighter JUPlong	+0.0096%	1h	0.2989	long leg	$799K	$1.3M	10x
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2983	−0.184%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2980	−0.293%	$617K	$649K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2986	−0.087%	$19.2M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2984	−0.155%	$116K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2985	−0.111%	$16.4M	$51.7M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2979	−0.318%	$62K	$9K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2981	−0.251%	$8.1M	$7.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2983	−0.184%	$4.3M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2982	−0.218%	$5.8M	$7.4M	75x	as long as short
BingX JUP-USDTshort	+0.0100%	4h	0.2982	−0.218%	—	$20.7M	—
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2983	−0.177%	$987K	$233K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2981	−0.251%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2981	−0.251%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2987	−0.044%	$94K	$119K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2975	−0.452%	$112K	$62K	20x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2980	−0.278%	$2.2M	$502K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2982	−0.218%	$41K	—	3x	as long as short
Phoenix JUP	+0.0162%	1h	0.2977	−0.371%	$97K	$468K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2989	+0.020%	$75K	$92K	50x	as long as short
Phemex JUPUSDT	+0.0418%	4h	0.2989	+0.017%	$2.9M	$3.8M	50x	as long as short