Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0099%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Orderly+0.037%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.037% dearer against Orderly than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_JUP_USDC	0.2952	0.0100	pay 0.0050% / 4h	1h 57m	$33K	$29K	10x
Short	gTrade (Gains Network) JUP/USD	0.2953	L +0.0001% / S −0.0001%	get 0.0000% / 1h	57m 48s	—	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Orderly. 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 OrderlybpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.037%Rate

Funding earned: −$20.89
Price spread: +0.037% → 0.000%: $3.66
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$33.23
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.5000%	1h	0.2956	+0.136%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2953	+0.043%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2954	+0.075%	$281K	$143K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2954	+0.082%	$39K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2952	−0.007%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USDshort	L +0.0001% / S −0.0001%	1h	0.2953	+0.037%	—	—	150x
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	+0.068%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2950	−0.068%	$765K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2954	+0.065%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2956	+0.136%	$581K	$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	0.2953	+0.030%	$18.2M	$9.1M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2951	−0.025%	$107K	$283K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2950	−0.071%	$16.2M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2948	−0.132%	$16.0M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2951	−0.034%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2953	+0.025%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2950	−0.068%	$721K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2950	−0.068%	$6.8M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2951	−0.034%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2950	−0.068%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2949	−0.102%	—	$20.6M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2951	−0.027%	$976K	$233K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2949	−0.103%	$715K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2953	+0.040%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2951	−0.034%	$163K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2959	+0.227%	$93K	$103K	10x	as long as short
Orderly PERP_JUP_USDClong	+0.0100%	4h	0.2952	long leg	$33K	$29K	10x
HTX JUP-USDT	+0.0100%	4h	0.2947	−0.169%	$111K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2950	−0.068%	$40K	—	3x	as long as short
Extended JUP-USD	+0.0232%	1h	0.2950	−0.080%	$2.2M	$570K	25x	as long as short
Phoenix JUP	+0.0271%	1h	0.2951	−0.037%	$98K	$279K	10x	as long as short
01 Exchange JUPUSD	+0.0280%	1h	0.2960	+0.257%	$26K	$10K	5x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2958	+0.210%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2948	−0.136%	$825K	$380K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0373%	1h	0.2952	0.000%	$582K	$462K	20x	as long as short
Phemex JUPUSDT	+0.0584%	4h	0.2957	+0.169%	$2.9M	$3.1M	50x	as long as short