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 −0.004%

Price spread now: KuCoin against Phemex0.000%7-day average −0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1231.229% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now 0.000%, 7d avg −0.127%

Together, before fees−0.270%−$27 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: KuCoin is 0.127% dearer against Phemex than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.127%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2958	0.0100	pay 0.0050% / 4h	3h 21m	$2.9M	$3.1M	50x
Short	KuCoin JUPUSDTM	0.2958	0.0100	get 0.0050% / 4h	3h 21m	$4.0M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.127%: $12.75
Slippage, 4 orders: −$98.86
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$110.11
Costs to cover: 1.229%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; KuCoin: live order book, 2 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 Phemex live order book, 2 min ago	3.38 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	5.09 bp	38.2 bp −$38	109.5 bp −$1,095	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	−0.5000%	1h	0.2918	−1.352%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2959	+0.025%	$16K	—	100x	as long as short
Pacifica JUP	−0.0183%	1h	0.2957	−0.038%	$282K	$146K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.2955	−0.086%	$39K	$21K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2959	+0.037%	$54K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2958	+0.009%	—	—	150x	as long as short
Backpack JUP_USDC_PERP	+0.0033%	1h	0.2958	+0.007%	$979K	$186K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2957	−0.034%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2960	+0.061%	$780K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2958	−0.014%	$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	0.2958	−0.008%	$596K	$489K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2959	+0.037%	$18.6M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2958	−0.007%	$110K	$286K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2957	−0.046%	$16.2M	$39.7M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2954	−0.135%	$16.0M	$17.7M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2956	−0.068%	$4.1M	$11.1M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2952	−0.203%	$61K	−$0	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2957	−0.034%	$734K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2956	−0.068%	$7.3M	$6.2M	200x	as long as short
KuCoin JUPUSDTMshort	+0.0100%	4h	0.2958	0.000%	$4.0M	$6.6M	50x
Bitget JUPUSDT	+0.0100%	4h	0.2958	0.000%	$5.8M	$5.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2956	−0.068%	—	$20.7M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2954	−0.137%	$720K	$624K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2955	−0.101%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2952	−0.203%	$163K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2962	+0.145%	$93K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2958	0.000%	$30K	$41K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2950	−0.270%	$111K	$44K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2958	long leg	$2.9M	$3.1M	50x
Aevo JUP-PERP	+0.0104%	1h	0.2955	−0.085%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0176%	1h	0.2960	+0.078%	$26K	$17K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0177%	1h	0.2959	+0.049%	$587K	$471K	20x	as long as short
Phoenix JUP	+0.0216%	1h	0.2957	−0.037%	$97K	$283K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2962	+0.135%	$75K	$50K	50x	as long as short
Extended JUP-USD	+0.0272%	1h	0.2957	−0.044%	$2.2M	$502K	25x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2959	+0.034%	$835K	$375K	50x	as long as short