Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.021%

Price spread now: OKX against Lighter−0.153%7-day average −0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.156%+$16 · spread now −0.153%, 7d avg −0.126%

Together, before fees+0.065%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.026% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.126%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter JUP	0.2949	0.0096	pay 0.0012% / 1h	1m 02s	$779K	$1.3M	10x
Short	OKX JUP-USDT-SWAP	0.2944	0.0000	get 0.0000% / 4h	2h 01m	$4.0M	$12.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.153%Rate

Funding earned: −$20.06
Price spread: −0.153% → −0.126%: −$2.63
Slippage, 4 orders: −$38.16
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$70.85
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; OKX: live order book, 2 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, 5 min ago	2.37 bp	6.3 bp −$6	37.1 bp −$371	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.70 bp	14.3 bp −$14	53.8 bp −$538	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	−0.4347%	1h	0.2917	−1.068%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2946	−0.081%	$281K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2946	−0.071%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0037%	4h	0.2944	−0.159%	$15.8M	$19.5M	50x	as long as short
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2947	−0.040%	$589K	$503K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2946	−0.075%	$54K	$16K	10x	as long as short
OKX JUP-USDT-SWAPshort	0.0000%	4h	0.2944	−0.153%	$4.0M	$12.9M	50x
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2947	−0.051%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2944	−0.152%	—	—	20x	as long as short
dYdX JUP-USD	+0.0074%	1h	0.2949	+0.033%	$39K	$28K	5x	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	+0.0075%	4h	0.2942	−0.204%	$719K	$720K	—	as long as short
Paradex JUP-USD-PERP	+0.0094%	8h	0.2945	−0.123%	$9K	$11K	10x	as long as short
Lighter JUPlong	+0.0096%	1h	0.2949	long leg	$779K	$1.3M	10x
Gate JUP_USDT	+0.0098%	4h	0.2947	−0.051%	$732K	$1.5M	75x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2944	−0.136%	$595K	$518K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2948	−0.017%	$18.7M	$10.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2948	−0.026%	$114K	$317K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2945	−0.133%	$16.2M	$44.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2946	−0.085%	$7.3M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2947	−0.051%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2946	−0.085%	$5.7M	$6.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2946	−0.085%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2946	−0.075%	$976K	$237K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2951	+0.085%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2950	+0.051%	$157K	$275K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2950	+0.037%	$93K	$108K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2947	−0.051%	$31K	$43K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2940	−0.288%	$111K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2951	+0.085%	$2.9M	$3.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2951	+0.085%	$61K	$8K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2945	−0.127%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2947	−0.058%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2950	+0.058%	$97K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2955	+0.224%	$74K	$50K	50x	as long as short
Extended JUP-USD	+0.0408%	1h	0.2945	−0.134%	$2.2M	$490K	25x	as long as short