Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Nado against Phemex−0.191%7-day average −0.197% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$600.601% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.027%−$3 on $10k

Price spread, last 4 days (all we have)−0.416%−$42 · spread now −0.191%, 7d avg −0.197%

Together, before fees−0.443%+ Points / potential airdropNado: Active · farm board−$44 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.3008	0.0100	pay 0.0050% / 4h	2h 58m	$2.9M	$2.9M	50x
Short	Nado JUP-PERP	0.3002	0.0100	get 0.0012% / 1h	58m 12s	$586K	$480K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.191%Rate

Funding earned: $0
Price spread: −0.191% → −0.197%: $0.62
Slippage, 4 orders: −$41.12
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$59.49
Costs to cover: 0.601%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Nado: live order book, 35 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, 5 min ago	4.96 bp	22.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 35 min ago	2.04 bp	8.9 bp −$9	36.4 bp −$364	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	−0.3614%	1h	0.3025	+0.565%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.3017	+0.306%	$17K	—	100x	as long as short
Pacifica JUP	−0.0028%	1h	0.3006	−0.062%	$286K	$131K	10x	as long as short
dYdX JUP-USD	0.0000%	1h	0.3008	−0.007%	$40K	$16K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.3004	−0.116%	$54K	$8K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S 0.0000%	1h	0.3023	+0.504%	$18K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.3009	+0.048%	—	—	20x	as long as short
01 Exchange JUPUSD	+0.0064%	1h	0.3006	−0.063%	$27K	$2K	5x	as long as short
Bybit JUPUSDT	+0.0094%	4h	0.2998	−0.332%	$16.2M	$16.6M	50x	as long as short
Lighter JUP	+0.0096%	1h	0.3005	−0.096%	$771K	$1.0M	10x	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	+0.0098%	8h	0.3004	−0.121%	$9K	$11K	10x	as long as short
Nado JUP-PERPshort	+0.0100%	1h	0.3002	−0.191%	$586K	$480K	10x
Hyperliquid JUP	+0.0100%	1h	0.3008	+0.013%	$18.6M	$8.6M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.3005	−0.113%	$104K	$295K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.3000	−0.266%	$16.7M	$37.8M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.3000	−0.266%	$4.1M	$10.3M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.3016	+0.266%	$63K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.3002	−0.199%	$718K	$1.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.3003	−0.166%	$8.0M	$5.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.3004	−0.133%	$4.2M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.3005	−0.100%	$5.9M	$4.3M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.3002	−0.199%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.3011	+0.086%	$998K	$213K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.3011	+0.098%	$729K	$470K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.3019	+0.366%	$1.7M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.3016	+0.266%	$166K	$250K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.3011	+0.103%	$95K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.3004	−0.133%	$34K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2997	−0.366%	$114K	$51K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.3008	long leg	$2.9M	$2.9M	50x
Aevo JUP-PERP	+0.0104%	1h	0.3003	−0.183%	$41K	—	3x	as long as short
Extended JUP-USD	+0.0144%	1h	0.3001	−0.218%	$2.2M	$543K	25x	as long as short
Phoenix JUP	+0.0272%	1h	0.3025	+0.552%	$109K	$263K	10x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.3016	+0.266%	$837K	$384K	50x	as long as short
Coinbase International JUP-PERP-INTX	+0.0360%	1h	0.3025	+0.568%	$77K	$52K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0385%	1h	0.3004	−0.124%	$591K	$397K	20x	as long as short