Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.5100%/8h= −558.5% APRpaid last 24h −0.974%

Price spread now: Injective against MEXC−1.097%7-day average −1.955% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.748%−$275 on $10k

Price spread, last 4 days (all we have)+0.609%+$61 · spread now −1.097%, 7d avg −1.955%

Together, before fees−2.139%−$214 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.858% dearer against MEXC than usual: you sell high and buy low (spread −1.097% now, against its 7-day average of −1.955%): +$86 on $10k if it goes back. Holding the pair costs −$153 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−2.748% in total) that is about 2.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.748% in total (about -143.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC JUP_USDT	0.2917	0.0100	pay 0.0050% / 4h	1h 31m	$6.7M	$5.6M	200x
Short	Injective JUP/USDC PERP	0.2885	−0.5000	pay 0.0625% / 1h	31m 15s	$3K	$206K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now −1.097%Rate

Funding earned: −$1,071
Price spread: −1.097% → −1.955%: $85.78
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$985.24
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 1 min ago; Injective: live order book, 13 min ago. Net counts fees only.

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 MEXC live order book, 1 min ago	1.72 bp	3.6 bp −$4	14.4 bp −$144	95.1 bp −$9,509	251.3 bp −$125.6K
Sell Injective live order book, 13 min ago	104.11 bp	doesn't fit	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 PERPshort	−0.5000%	1h	0.2885	−1.097%	$3K	$206K	5.5x
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2917	+0.015%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2917	−0.017%	$278K	$140K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2917	−0.006%	—	—	150x	as long as short
dYdX JUP-USD	+0.0015%	1h	0.2918	+0.051%	$39K	$18K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2918	+0.019%	—	—	20x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0058%	1h	0.2918	+0.045%	$52K	$17K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2920	+0.096%	$757K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2917	−0.016%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2918	+0.034%	$572K	$492K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2920	+0.093%	$18.0M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2916	−0.020%	$105K	$281K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2917	+0.009%	$16.0M	$39.5M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2916	−0.034%	$15.8M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2918	+0.034%	$4.0M	$10.5M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2915	−0.069%	$696K	$1.4M	75x	as long as short
MEXC JUP_USDTlong	+0.0100%	4h	0.2917	long leg	$6.7M	$5.6M	200x
KuCoin JUPUSDTM	+0.0100%	4h	0.2917	0.000%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2918	+0.034%	$5.7M	$5.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2916	−0.034%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2916	−0.048%	$965K	$229K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2917	0.000%	$708K	$624K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2920	+0.090%	$1.6M	$4.1M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2918	+0.034%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2920	+0.117%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2918	+0.034%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2910	−0.240%	$109K	$42K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2918	+0.034%	$61K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2916	−0.030%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0152%	1h	0.2920	+0.099%	$26K	$6K	5x	as long as short
Extended JUP-USD	+0.0232%	1h	0.2916	−0.024%	$2.2M	$571K	25x	as long as short
Phoenix JUP	+0.0244%	1h	0.2922	+0.154%	$97K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2940	+0.806%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2917	0.000%	$822K	$376K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0377%	1h	0.2918	+0.046%	$576K	$417K	20x	as long as short
Phemex JUPUSDT	+0.0552%	4h	0.2922	+0.171%	$2.9M	$3.0M	50x	as long as short