Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0673%/8h= −73.7% APRpaid last 24h −0.081%

Price spread now: GMX against Orderly−0.032%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on GMX

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

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and GMX is 0.032% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_JUP_USDC	0.3008	0.0100	pay 0.0050% / 4h	3h 06m	$32K	$45K	10x
Short	GMX JUP/USD [WBTC.b-USDC]	0.3007	L −0.0210% / S +0.0573%	pay 0.0072% / 1h	6m 42s	$17K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$141.32
Price spread: −0.032% → 0.000%: −$3.22
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$162.54
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; GMX: 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 GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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	−0.4634%	1h	0.2985	−0.765%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.3004	−0.146%	$286K	$147K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]short	L −0.0210% / S +0.0573%	1h	0.3007	−0.032%	$17K	—	100x
Kraken Futures PF_JUPUSD	−0.0101%	1h	0.3007	−0.020%	$605K	$525K	20x	as long as short
OKX JUP-USDT-SWAP	−0.0050%	4h	0.3000	−0.266%	$4.1M	$15.5M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0049%	1h	0.3007	−0.040%	$55K	$16K	10x	as long as short
01 Exchange JUPUSD	−0.0048%	1h	0.3005	−0.113%	$27K	$19K	5x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.3008	−0.006%	—	—	150x	as long as short
dYdX JUP-USD	+0.0042%	1h	0.3004	−0.119%	$39K	$31K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.3004	−0.132%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex JUP-USD-PERP	+0.0081%	8h	0.3007	−0.044%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.3006	−0.057%	$752K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDClong	+0.0100%	4h	0.3008	long leg	$32K	$45K	10x
Nado JUP-PERP	+0.0100%	1h	0.3004	−0.133%	$621K	$625K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.3008	+0.003%	$19.3M	$11.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3008	+0.012%	$116K	$326K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3002	−0.199%	$16.5M	$48.2M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2999	−0.286%	$16.4M	$20.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.3009	+0.039%	$63K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3005	−0.100%	$755K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3003	−0.166%	$7.9M	$7.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3006	−0.066%	$4.1M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3003	−0.166%	$5.9M	$6.7M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3004	−0.133%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3007	−0.047%	$996K	$230K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.3010	+0.067%	$728K	$770K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.3015	+0.233%	$1.7M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.3016	+0.266%	$160K	$303K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3009	+0.040%	$95K	$111K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.3002	−0.199%	$113K	$54K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.3013	+0.166%	$2.9M	$3.7M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.3001	−0.224%	$2.2M	$484K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.3005	−0.093%	$41K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.3013	+0.160%	$98K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3013	+0.153%	$75K	$60K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.3009	+0.033%	$853K	$362K	50x	as long as short