Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.473%

Price spread now: dYdX against Phemex−0.086%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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 −$3 a day on $10k at the current rate, and dYdX is 0.086% cheaper against Phemex than usual: you would sell low and buy high (−$9 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	Phemex JUPUSDT	0.2965	0.0100	pay 0.0050% / 4h	3h 27m	$2.9M	$3.1M	50x
Short	dYdX JUP-USD	0.2962	0	get 0.0000% / 1h	27m 37s	$39K	$21K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Phemex. 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 PhemexbpFee dYdXbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$21
Price spread: −0.086% → 0.000%: −$8.64
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$51.64
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 6 min ago; dYdX: 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 Phemex live order book, 6 min ago	3.38 bp	18.5 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	0.2926	−1.315%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2961	−0.149%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2958	−0.222%	$282K	$146K	10x	as long as short
dYdX JUP-USDshort	0.0000%	1h	0.2962	−0.086%	$39K	$21K	5x
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2962	−0.111%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2962	−0.102%	—	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2960	−0.179%	—	—	20x	as long as short
Backpack JUP_USDC_PERP	+0.0060%	1h	0.2961	−0.128%	$978K	$185K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2962	−0.098%	$781K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2957	−0.265%	$9K	$11K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado JUP-PERP	+0.0100%	1h	0.2961	−0.143%	$598K	$488K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2961	−0.121%	$18.6M	$9.2M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2960	−0.159%	$110K	$286K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2958	−0.236%	$16.2M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2956	−0.290%	$15.9M	$17.8M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2957	−0.270%	$4.0M	$11.1M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2959	−0.202%	$732K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	−0.202%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2960	−0.169%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2960	−0.169%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2959	−0.202%	—	$20.7M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2965	−0.001%	$723K	$625K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2963	−0.066%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2966	+0.034%	$164K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2965	0.000%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2961	−0.135%	$31K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2952	−0.438%	$111K	$44K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2965	long leg	$2.9M	$3.1M	50x
Bulk JUP-USD	+0.0100%	1h	0.2954	−0.371%	$61K	−$0	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2960	−0.169%	$40K	—	3x	as long as short
Kraken Futures PF_JUPUSD	+0.0177%	1h	0.2963	−0.070%	$592K	$467K	20x	as long as short
01 Exchange JUPUSD	+0.0184%	1h	0.2960	−0.162%	$26K	$17K	5x	as long as short
Phoenix JUP	+0.0216%	1h	0.2967	+0.057%	$98K	$283K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2962	−0.101%	$75K	$50K	50x	as long as short
Extended JUP-USD	+0.0272%	1h	0.2957	−0.257%	$2.2M	$499K	25x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2963	−0.067%	$832K	$376K	50x	as long as short