Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.007%

Price spread now: Phemex against Paradex+0.313%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phemex is 0.313% dearer against Paradex than usual: you sell high and buy low: +$31 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex JUP-USD-PERP	0.2999	0.0083	pay 0.0083% / 8h	7h 32m	$9K	$13K	10x
Short	Phemex JUPUSDT	0.3008	0.0100	get 0.0050% / 4h	3h 32m	$2.9M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Paradex. 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 ParadexbpFee PhemexbpOrdersPrice spread, now +0.313%Rate

Funding earned: $3.65
Price spread: +0.313% → 0.000%: $31.31
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: $18.96
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 2 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 Paradex no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	1.66 bp	19.7 bp −$20	doesn't fit	doesn't fit	doesn't fit

Paradex: 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	0.2959	−1.321%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.2998	−0.020%	$286K	$148K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.3002	+0.097%	$17K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0101%	1h	0.3006	+0.246%	$605K	$537K	20x	as long as short
OKX JUP-USDT-SWAP	−0.0002%	4h	0.3005	+0.213%	$4.1M	$16.1M	50x	as long as short
01 Exchange JUPUSD	0.0000%	1h	0.3000	+0.033%	$27K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.3005	+0.220%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.3001	+0.077%	$1K	—	150x	as long as short
dYdX JUP-USD	+0.0036%	1h	0.3002	+0.098%	$39K	$32K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2998	−0.019%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0068%	4h	0.2994	−0.154%	$847K	$314K	50x	as long as short
Paradex JUP-USD-PERPlong	+0.0083%	8h	0.2999	long leg	$9K	$13K	10x
Lighter JUP	+0.0096%	1h	0.3006	+0.253%	$754K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3005	+0.213%	$31K	$46K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2998	−0.029%	$622K	$631K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.3008	+0.323%	$19.3M	$12.6M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3003	+0.151%	$116K	$334K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3006	+0.246%	$16.6M	$50.2M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.3007	+0.280%	$16.4M	$21.1M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3003	+0.146%	$750K	$1.6M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3006	+0.246%	$8.0M	$7.3M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3007	+0.280%	$4.1M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3008	+0.313%	$5.9M	$7.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3004	+0.180%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3005	+0.206%	$994K	$230K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.3001	+0.081%	$727K	$776K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.3002	+0.113%	$1.7M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.3004	+0.180%	$160K	$311K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3003	+0.160%	$95K	$116K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2995	−0.120%	$113K	$56K	20x	as long as short
Phemex JUPUSDTshort	+0.0100%	4h	0.3008	+0.313%	$2.9M	$3.8M	50x
Bulk JUP-USD	+0.0100%	1h	0.2997	−0.054%	$62K	$8K	10x	as long as short
Extended JUP-USD	+0.0104%	1h	0.3005	+0.226%	$2.2M	$492K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.3006	+0.232%	$41K	—	3x	as long as short
Phoenix JUP	+0.0214%	1h	0.3005	+0.223%	$98K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.3000	+0.036%	$75K	$88K	50x	as long as short