JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0148%/8h= −16.2% APRnext payment −$0.19 per $10,000 · paid last 24h −0.010%

Price spread now: Lighter against Phoenix+0.563%104s7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as 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−$490.488% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−1.552%−$155 · spread now +0.563%, 7d avg −0.033%

Together, before fees−1.567%+ Points / potential airdropLighter: Season 3 · farm board−$157 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.595% dearer against Phoenix than usual: you sell high and buy low (spread +0.563% now, against its 7-day average of −0.033%): +$60 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 7 days (−0.015% in total) that is about 9 months. The two prices were read 104 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	0.2951	0.0244	pay 0.0031% / 1h	35m 35s	$97K	$329K	10x
Short	Lighter JUP	0.2968	0.0096	get 0.0012% / 1h	35m 35s	$785K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.563%Rate

Funding earned: −$31.13
Price spread: +0.563% → −0.033%: $59.53
Slippage, 4 orders: −$41.78
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.38
Costs to cover: 0.488%
Break-even: from the start

Slippage from Phoenix: live order book, 26 min ago; Lighter: live order book, 10 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, 26 min ago	2.54 bp	14.3 bp −$14	29.1 bp −$291	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	1.87 bp	14.7 bp −$15	61.2 bp −$612	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	−1.122%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2967	+0.535%	$16K	—	100x	as long as short
Pacifica JUP	−0.0224%	1h	0.2964	+0.445%	$282K	$147K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2969	+0.607%	$55K	$16K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2968	+0.579%	—	—	150x	as long as short
Bybit JUPUSDT	+0.0002%	4h	0.2964	+0.437%	$15.9M	$19.2M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0045%	4h	0.2968	+0.573%	$4.1M	$12.6M	50x	as long as short
Backpack JUP_USDC_PERP	+0.0046%	1h	0.2968	+0.586%	$986K	$256K	10x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2967	+0.555%	—	—	20x	as long as short
dYdX JUP-USD	+0.0089%	1h	0.2966	+0.495%	$39K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter JUPshort	+0.0096%	1h	0.2968	+0.563%	$785K	$1.1M	10x
Paradex JUP-USD-PERP	+0.0097%	8h	0.2965	+0.460%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2965	+0.488%	$600K	$509K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2967	+0.546%	$18.8M	$9.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2967	+0.540%	$114K	$298K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2965	+0.488%	$16.4M	$43.2M	75x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2965	+0.471%	$740K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2963	+0.403%	$7.5M	$6.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2967	+0.539%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2967	+0.539%	$5.8M	$6.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2964	+0.437%	—	$20.8M	—	as long as short
Variational Omni JUP	+0.0100%	4h	0.2965	+0.468%	$723K	$698K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2960	+0.314%	$1.6M	$3.8M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2957	+0.200%	$157K	$275K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2970	+0.634%	$94K	$107K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2968	+0.573%	$31K	$42K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2958	+0.234%	$112K	$47K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2971	+0.674%	$2.9M	$3.3M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2965	+0.478%	$62K	$8K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2967	+0.522%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0184%	1h	0.2968	+0.583%	$26K	$19K	5x	as long as short
Kraken Futures PF_JUPUSD	+0.0199%	1h	0.2970	+0.628%	$593K	$494K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0240%	1h	0.2966	+0.512%	$75K	$50K	50x	as long as short
Phoenix JUPlong	+0.0244%	1h	0.2951	long leg	$97K	$329K	10x
BloFin JUP-USDT	+0.0340%	4h	0.2963	+0.403%	$840K	$371K	50x	as long as short
Extended JUP-USD	+0.0352%	1h	0.2965	+0.460%	$2.2M	$493K	25x	as long as short