Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.024%

Price spread now: Phemex against OKX+0.480%7-day average +0.203% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$740.741% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)−0.255%−$26 · spread now +0.480%, 7d avg +0.203%

Together, before fees−0.152%−$15 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 0.278% dearer against OKX than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.203%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX JUP-USDT-SWAP	0.2915	0.0100	pay 0.0050% / 4h	2h 34m	$4.0M	$10.7M	50x
Short	Phemex JUPUSDT	0.2929	0.0100	get 0.0050% / 4h	2h 34m	$2.9M	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.480%Rate

Funding earned: $0
Price spread: +0.480% → +0.203%: $27.75
Slippage, 4 orders: −$52.06
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.3
Costs to cover: 0.741%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Phemex: 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, 3 min ago	3.43 bp	14.5 bp −$15	59.8 bp −$598	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	5.13 bp	19.2 bp −$19	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	−0.4499%	1h	0.2910	−0.172%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2924	+0.313%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2926	+0.361%	$279K	$145K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2925	+0.357%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2925	+0.354%	—	—	150x	as long as short
dYdX JUP-USD	+0.0017%	1h	0.2926	+0.361%	$39K	$20K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2924	+0.311%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2927	+0.412%	$772K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2926	+0.375%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2924	+0.300%	$579K	$493K	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	0.2924	+0.309%	$18.4M	$8.7M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2921	+0.195%	$108K	$270K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2917	+0.064%	$16.0M	$39.3M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2913	−0.069%	$15.7M	$17.8M	50x	as long as short
OKX JUP-USDT-SWAPlong	+0.0100%	4h	0.2915	long leg	$4.0M	$10.7M	50x
Bulk JUP-USD	+0.0100%	1h	0.2938	+0.789%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2918	+0.103%	$719K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2919	+0.137%	$7.1M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2923	+0.274%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2920	+0.172%	$5.7M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2918	+0.103%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2923	+0.261%	$966K	$189K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2917	+0.070%	$712K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2919	+0.147%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2917	+0.069%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2927	+0.401%	$92K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2925	+0.343%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2913	−0.069%	$109K	$44K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.2929	+0.480%	$2.9M	$3.0M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2923	+0.281%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0144%	1h	0.2925	+0.346%	$26K	$10K	5x	as long as short
Extended JUP-USD	+0.0192%	1h	0.2916	+0.042%	$2.2M	$508K	25x	as long as short
Kraken Futures PF_JUPUSD	+0.0258%	1h	0.2926	+0.392%	$581K	$458K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2921	+0.202%	$98K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2968	+1.811%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2922	+0.240%	$833K	$377K	50x	as long as short