Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0299%/8h= −32.7% APRpaid last 24h −0.051%

Price spread now: Pacifica against Phemex−0.051%7-day average −0.159% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.317%−$32 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now −0.051%, 7d avg −0.159%

Together, before fees−0.440%+ Points / potential airdropPacifica: Active · farm board−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.109% dearer against Phemex than usual: you sell high and buy low (spread −0.051% now, against its 7-day average of −0.159%): +$11 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex JUPUSDT	0.2981	0.0100	pay 0.0050% / 4h	51m 48s	$2.9M	$4.0M	50x
Short	Pacifica JUP	0.2979	−0.0199	pay 0.0025% / 1h	51m 48s	$284K	$169K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PacificabpOrdersPrice spread, now −0.051%Rate

Funding earned: −$62.71
Price spread: −0.051% → −0.159%: $10.86
Slippage, 4 orders: −$39.4
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$111.26
Costs to cover: 0.594%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Pacifica: live order book, 26 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	3.35 bp	19.1 bp −$19	75.0 bp −$750	doesn't fit	doesn't fit
Sell Pacifica live order book, 26 min ago	1.69 bp	8.4 bp −$8	doesn't fit	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	−0.4371%	1h	0.2935	−1.543%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2976	−0.177%	$15K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2976	−0.175%	$602K	$618K	20x	as long as short
Pacifica JUPshort	−0.0199%	1h	0.2979	−0.051%	$284K	$169K	10x
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2976	−0.178%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2977	−0.136%	$17K	—	150x	as long as short
BloFin JUP-USDT	+0.0052%	4h	0.2983	+0.067%	$848K	$330K	50x	as long as short
Gate JUP_USDT	+0.0056%	4h	0.2980	−0.034%	$749K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2973	−0.256%	—	—	20x	as long as short
Bybit JUPUSDT	+0.0057%	4h	0.2978	−0.101%	$16.3M	$23.0M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange JUPUSD	+0.0064%	1h	0.2978	−0.091%	$26K	$19K	5x	as long as short
Paradex JUP-USD-PERP	+0.0081%	8h	0.2976	−0.156%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2983	+0.070%	$801K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2975	−0.201%	$614K	$664K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2979	−0.059%	$108K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2979	−0.064%	$16.4M	$53.9M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2979	−0.067%	$4.1M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2979	−0.067%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2982	+0.034%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2978	−0.101%	$5.7M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2980	−0.034%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2977	−0.151%	$985K	$246K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2972	−0.299%	$718K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2977	−0.136%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2974	−0.235%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.074%	$94K	$129K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2976	−0.168%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2972	−0.302%	$112K	$67K	20x	as long as short
Phemex JUPUSDTlong	+0.0100%	4h	0.2981	long leg	$2.9M	$4.0M	50x
Bulk JUP-USD	+0.0100%	1h	0.2966	−0.503%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2973	−0.285%	$41K	—	3x	as long as short
dYdX JUP-USD	+0.0126%	1h	0.2981	+0.016%	$39K	$34K	5x	as long as short
Hyperliquid JUP	+0.0153%	1h	0.2985	+0.138%	$19.2M	$13.2M	10x	as long as short
Phoenix JUP	+0.0162%	1h	0.2973	−0.262%	$97K	$479K	10x	as long as short
Extended JUP-USD	+0.0216%	1h	0.2979	−0.070%	$2.2M	$506K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2979	−0.064%	$74K	$95K	50x	as long as short