Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0039%/8h= +4.3% APRnext payment +$0.05 per $10,000 · paid last 24h —

Price spread now: Lighter against Reya+0.112%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.112% dearer against Reya than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya JUPRUSDPERP	0.2927	0.0057	pay 0.0007% / 1h	2m 56s	—	—	20x
Short	Lighter JUP	0.2930	0.0096	get 0.0012% / 1h	2m 56s	$758K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Reya. 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 ReyabpFee LighterbpOrdersPrice spread, now +0.112%Rate

Funding earned: $8.25
Price spread: +0.112% → 0.000%: $11.19
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $13.45
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 3 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Lighter live order book, 3 min ago	1.53 bp	6.9 bp −$7	45.3 bp −$453	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2904	−0.770%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2926	−0.002%	$16K	—	100x	as long as short
Pacifica JUP	−0.0041%	1h	0.2929	+0.071%	$279K	$138K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2929	+0.074%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2928	+0.041%	—	—	150x	as long as short
dYdX JUP-USD	+0.0032%	1h	0.2931	+0.167%	$39K	$16K	5x	as long as short
Reya JUPRUSDPERPlong	+0.0057%	1h	0.2927	long leg	—	—	20x
Lighter JUPshort	+0.0096%	1h	0.2930	+0.112%	$758K	$1.0M	10x
Paradex JUP-USD-PERP	+0.0100%	8h	0.2928	+0.046%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2928	+0.050%	$571K	$490K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JUP	+0.0100%	1h	0.2928	+0.050%	$18.1M	$8.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2929	+0.085%	$106K	$280K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2925	−0.046%	$16.1M	$38.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2924	−0.100%	$15.8M	$17.4M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2925	−0.052%	$4.0M	$10.3M	50x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2928	+0.050%	$699K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2926	−0.018%	$6.7M	$5.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2929	+0.085%	$4.0M	$6.7M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2926	−0.018%	$5.8M	$5.0M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2927	+0.016%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2927	+0.013%	$969K	$225K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2934	+0.255%	$711K	$531K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2934	+0.255%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2934	+0.255%	$162K	$254K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2931	+0.167%	$92K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2928	+0.050%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2924	−0.086%	$110K	$43K	20x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2934	+0.273%	$61K	$2K	10x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2927	+0.020%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0200%	1h	0.2929	+0.088%	$26K	$6K	5x	as long as short
Phoenix JUP	+0.0244%	1h	0.2933	+0.211%	$98K	$285K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0304%	1h	0.2940	+0.478%	$74K	$48K	50x	as long as short
Extended JUP-USD	+0.0312%	1h	0.2924	−0.098%	$2.2M	$572K	25x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2926	−0.018%	$821K	$372K	50x	as long as short
Kraken Futures PF_JUPUSD	+0.0376%	1h	0.2928	+0.063%	$578K	$418K	20x	as long as short
Phemex JUPUSDT	+0.0498%	4h	0.2932	+0.187%	$2.9M	$3.0M	50x	as long as short