JUP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0062%/8h= −6.7% APRnext payment −$0.08 per $10,000 · paid last 24h −0.010%

Price spread now: Polymarket Perps against Phoenix+0.158%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 3 days (all we have)−0.227%−$23 · spread now +0.158%, 7d avg −0.008%

Together, before fees−0.527%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.165% dearer against Phoenix than usual: you sell high and buy low (spread +0.158% now, against its 7-day average of −0.008%): +$17 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.9 days. At the pace of the last 7 days (−0.300% in total) that is about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix JUP	0.2984	0.0162	pay 0.0020% / 1h	51m 19s	$97K	$479K	10x
Short	Polymarket Perps JUP-USD	0.2988	0.0100	get 0.0013% / 1h	51m 19s	$94K	$129K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.158%Rate

Funding earned: −$12.94
Price spread: +0.158% → −0.008%: $16.54
Slippage, 4 orders: −$45.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$56.8
Costs to cover: 0.604%
Break-even: never at this rate

Slippage from Phoenix: live order book, 25 min ago; Polymarket Perps: live order book, 25 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, 25 min ago	2.53 bp	14.4 bp −$14	29.0 bp −$290	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 25 min ago	3.04 bp	16.6 bp −$17	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	0.2944	−1.324%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0398% / S +0.0663%	1h	0.2982	−0.051%	$15K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0208%	1h	0.2984	0.000%	$604K	$617K	20x	as long as short
Pacifica JUP	−0.0199%	1h	0.2980	−0.106%	$284K	$169K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2983	−0.010%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2981	−0.068%	$17K	—	150x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2979	−0.147%	—	—	20x	as long as short
Gate JUP_USDT	+0.0060%	4h	0.2980	−0.117%	$749K	$1.8M	75x	as long as short
Bybit JUPUSDT	+0.0067%	4h	0.2979	−0.151%	$16.3M	$23.0M	50x	as long as short
01 Exchange JUPUSD	+0.0072%	1h	0.2984	+0.017%	$26K	$19K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin JUP-USDT	+0.0075%	4h	0.2982	−0.050%	$847K	$330K	50x	as long as short
Paradex JUP-USD-PERP	+0.0082%	8h	0.2979	−0.143%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2985	+0.037%	$802K	$1.3M	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2980	−0.117%	$615K	$664K	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2981	−0.086%	$109K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2981	−0.068%	$16.4M	$53.9M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2978	−0.184%	$4.1M	$16.5M	50x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2982	−0.050%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2982	−0.050%	$4.3M	$7.0M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2981	−0.084%	$5.7M	$8.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2980	−0.117%	—	$20.9M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2977	−0.235%	$985K	$246K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2972	−0.382%	$718K	$1.0M	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2977	−0.220%	$1.6M	$3.9M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2979	−0.151%	$158K	$320K	50x	as long as short
Polymarket Perps JUP-USDshort	+0.0100%	1h	0.2988	+0.158%	$94K	$129K	10x
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2982	−0.050%	$31K	$49K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2973	−0.352%	$112K	$67K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2984	+0.017%	$2.9M	$4.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2966	−0.587%	$58K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2980	−0.101%	$41K	—	3x	as long as short
dYdX JUP-USD	+0.0110%	1h	0.2981	−0.068%	$39K	$34K	5x	as long as short
Hyperliquid JUP	+0.0161%	1h	0.2987	+0.107%	$19.2M	$13.2M	10x	as long as short
Phoenix JUPlong	+0.0162%	1h	0.2984	long leg	$97K	$479K	10x
Extended JUP-USD	+0.0216%	1h	0.2980	−0.120%	$2.2M	$506K	25x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2979	−0.147%	$74K	$95K	50x	as long as short