JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0365%/8h= −40.0% APRnext payment −$0.46 per $10,000 · paid last 24h +0.056%

Price spread now: Kraken Futures against Phoenix−0.146%71s7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$840.839% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.627%+$63 on $10k

Price spread, last 3 days (all we have)+0.280%+$28 · spread now −0.146%, 7d avg +0.002%

Together, before fees+0.907%+$91 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Kraken Futures is 0.148% cheaper against Phoenix than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.002%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.627%, so the current rate has only just turned against you. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix JUP	0.2960	0.0190	pay 0.0024% / 1h	19m 48s	$95K	$441K	10x
Short	Kraken Futures PF_JUPUSD	0.2956	−0.0176	pay 0.0022% / 1h	19m 48s	$601K	$613K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$76.75
Price spread: −0.146% → +0.002%: −$14.84
Slippage, 4 orders: −$66.86
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$175.45
Costs to cover: 0.839%
Break-even: never at this rate

Slippage from Phoenix: live order book, 62 min ago; Kraken Futures: live order book, 63 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, 62 min ago	2.51 bp	14.3 bp −$14	29.0 bp −$290	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 63 min ago	20.13 bp	27.1 bp −$27	230.5 bp −$2,305	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	−0.3508%	1h	0.2911	−1.662%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0473% / S +0.0334%	1h	0.2957	−0.102%	$15K	—	100x	as long as short
Pacifica JUP	−0.0335%	1h	0.2956	−0.133%	$282K	$171K	10x	as long as short
Kraken Futures PF_JUPUSDshort	−0.0176%	1h	0.2956	−0.146%	$601K	$613K	20x
01 Exchange JUPUSD	−0.0032%	1h	0.2958	−0.071%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2957	−0.108%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2957	−0.110%	$17K	—	150x	as long as short
Gate JUP_USDT	+0.0006%	4h	0.2956	−0.142%	$746K	$1.9M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2954	−0.197%	—	—	20x	as long as short
Paradex JUP-USD-PERP	+0.0072%	8h	0.2956	−0.147%	$9K	$13K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JUPUSDT	+0.0091%	4h	0.2956	−0.155%	$16.2M	$23.3M	50x	as long as short
Lighter JUP	+0.0096%	1h	0.2959	−0.044%	$793K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2955	−0.159%	$612K	$671K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2962	+0.057%	$19.0M	$13.5M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2957	−0.091%	$106K	$365K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2958	−0.083%	$16.3M	$54.7M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2957	−0.108%	$4.0M	$16.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2959	−0.041%	$57K	$3K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2959	−0.041%	$8.1M	$8.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2961	+0.027%	$4.3M	$7.1M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2957	−0.108%	$5.6M	$8.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2956	−0.142%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2957	−0.115%	$978K	$255K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2955	−0.188%	$714K	$1.1M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2954	−0.215%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2953	−0.243%	$157K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2961	+0.041%	$93K	$132K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2957	−0.108%	$31K	$50K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2950	−0.345%	$111K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2962	+0.061%	$2.9M	$4.0M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2954	−0.209%	$40K	—	3x	as long as short
BloFin JUP-USDT	+0.0121%	4h	0.2959	−0.041%	$848K	$325K	50x	as long as short
dYdX JUP-USD	+0.0139%	1h	0.2958	−0.078%	$39K	$35K	5x	as long as short
Extended JUP-USD	+0.0144%	1h	0.2955	−0.187%	$2.2M	$502K	25x	as long as short
Phoenix JUPlong	+0.0190%	1h	0.2960	long leg	$95K	$441K	10x
Coinbase International JUP-PERP-INTX	+0.0264%	1h	0.2961	+0.014%	$74K	$93K	50x	as long as short