Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.021%

Price spread now: Lighter against OKX+0.220%7-day average +0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on OKX Short on Lighter

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)−0.223%−$22 · spread now +0.220%, 7d avg +0.126%

Together, before fees−0.132%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.093% dearer against OKX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX JUP-USDT-SWAP	0.2960	−0.0048	get 0.0024% / 4h	2h 21m	$4.1M	$14.0M	50x
Short	Lighter JUP	0.2967	0.0096	get 0.0012% / 1h	21m 58s	$784K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.220%Rate

Funding earned: $30.27
Price spread: +0.220% → +0.126%: $9.32
Slippage, 4 orders: −$37.27
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.67
Costs to cover: 0.473%
Break-even: 8.8 days

Slippage from OKX: live order book, 1 min ago; Lighter: live order book, 4 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 OKX live order book, 1 min ago	3.37 bp	13.0 bp −$13	54.7 bp −$547	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	4.04 bp	5.0 bp −$5	49.5 bp −$495	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	−1.453%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0353%	1h	0.2966	+0.199%	$283K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0619%	1h	0.2965	+0.162%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0186%	4h	0.2959	−0.037%	$15.9M	$20.0M	50x	as long as short
OKX JUP-USDT-SWAPlong	−0.0048%	4h	0.2960	long leg	$4.1M	$14.0M	50x
Kraken Futures PF_JUPUSD	−0.0024%	1h	0.2964	+0.129%	$592K	$515K	20x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2965	+0.179%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2964	+0.144%	—	—	150x	as long as short
dYdX JUP-USD	+0.0014%	1h	0.2963	+0.115%	$39K	$29K	5x	as long as short
Variational Omni JUP	+0.0036%	4h	0.2967	+0.237%	$724K	$751K	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0052%	4h	0.2964	+0.135%	$740K	$1.5M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2965	+0.153%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0091%	8h	0.2966	+0.208%	$9K	$11K	10x	as long as short
Lighter JUPshort	+0.0096%	1h	0.2967	+0.220%	$784K	$1.3M	10x
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2964	+0.135%	$31K	$43K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2965	+0.169%	$601K	$535K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2966	+0.213%	$18.9M	$10.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2965	+0.153%	$114K	$321K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2961	+0.034%	$16.4M	$45.6M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2964	+0.135%	$62K	$8K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2962	+0.068%	$7.4M	$7.0M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2964	+0.135%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2963	+0.101%	$5.8M	$6.4M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2962	+0.068%	—	$20.8M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2964	+0.142%	$981K	$235K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2966	+0.203%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2968	+0.270%	$158K	$296K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2967	+0.250%	$94K	$109K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2959	−0.034%	$112K	$49K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2969	+0.304%	$2.9M	$3.5M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2961	+0.047%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0128%	1h	0.2967	+0.250%	$26K	$19K	5x	as long as short
Phoenix JUP	+0.0188%	1h	0.2970	+0.355%	$98K	$402K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0272%	1h	0.2969	+0.307%	$75K	$51K	50x	as long as short
Extended JUP-USD	+0.0424%	1h	0.2960	−0.010%	$2.2M	$486K	25x	as long as short