JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0007%/8h= −0.8% APRnext payment −$0.01 per $10,000 · paid last 24h +0.036%

Price spread now: Hyperliquid against Phoenix−0.080%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$500.498% of the position

Long on Phoenix Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 3 days (all we have)−0.305%−$30 · spread now −0.080%, 7d avg −0.019%

Together, before fees−0.326%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 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: Hyperliquid is 0.061% cheaper against Phoenix than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix JUP	0.2989	0.0162	pay 0.0020% / 1h	31m 21s	$97K	$479K	10x
Short	Hyperliquid JUP	0.2986	0.0155	get 0.0019% / 1h	31m 21s	$19.2M	$13.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Phoenix. 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 PhoenixbpFee HyperliquidbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$1.48
Price spread: −0.080% → −0.019%: −$6.11
Slippage, 4 orders: −$33.78
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$57.36
Costs to cover: 0.498%
Break-even: never at this rate

Slippage from Phoenix: live order book, 45 min ago; Hyperliquid: live order book, 12 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 Phoenix live order book, 45 min ago	2.53 bp	14.4 bp −$14	29.0 bp −$290	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	1.17 bp	9.5 bp −$10	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	0.2950	−1.298%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2983	−0.184%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2986	−0.102%	$602K	$601K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2982	−0.221%	$284K	$168K	10x	as long as short
Bybit JUPUSDT	−0.0016%	4h	0.2979	−0.338%	$16.3M	$22.7M	50x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2983	−0.204%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2985	−0.143%	$17K	—	150x	as long as short
01 Exchange JUPUSD	+0.0040%	1h	0.2982	−0.221%	$26K	$19K	5x	as long as short
Gate JUP_USDT	+0.0054%	4h	0.2980	−0.294%	$746K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2980	−0.290%	—	—	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX JUP-USD	+0.0073%	1h	0.2987	−0.073%	$39K	$34K	5x	as long as short
Paradex JUP-USD-PERP	+0.0086%	8h	0.2982	−0.241%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2984	−0.157%	$797K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2984	−0.161%	$31K	$48K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2978	−0.356%	$721K	$941K	—	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2981	−0.253%	$615K	$658K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2985	−0.122%	$116K	$363K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2981	−0.246%	$16.4M	$53.5M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2979	−0.328%	$4.1M	$16.4M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2985	−0.127%	$58K	$2K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2982	−0.228%	$8.2M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2985	−0.127%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2981	−0.261%	$5.8M	$8.1M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2981	−0.261%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2985	−0.137%	$988K	$244K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2987	−0.062%	$1.7M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2987	−0.060%	$159K	$320K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2986	−0.104%	$94K	$128K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2977	−0.395%	$112K	$66K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2989	+0.007%	$2.9M	$3.9M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2979	−0.336%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0131%	4h	0.2980	−0.294%	$846K	$329K	50x	as long as short
Hyperliquid JUPshort	+0.0155%	1h	0.2986	−0.080%	$19.2M	$13.1M	10x
Phoenix JUPlong	+0.0162%	1h	0.2989	long leg	$97K	$479K	10x
Extended JUP-USD	+0.0256%	1h	0.2979	−0.337%	$2.2M	$507K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.3000	+0.388%	$75K	$93K	50x	as long as short