Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0043%/8h= +4.7% APRnext payment +$0.05 per $10,000 · paid last 24h —

Price spread now: Nado against Reya−0.035%57s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Nado

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 · Nado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.035% cheaper against Reya than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.7 days of funding at the current rate (+$1 a day). The two prices were read 57 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	Reya JUPRUSDPERP	0.2932	0.0057	pay 0.0007% / 1h	26m 02s	—	—	20x
Short	Nado JUP-PERP	0.2931	0.0100	get 0.0013% / 1h	26m 02s	$579K	$490K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.035%Rate

Funding earned: $9.09
Price spread: −0.035% → 0.000%: −$3.49
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$7.4
Costs to cover: 0.130%
Break-even: 12.7 days

Slippage unknown: Reya: no order-book sample; Nado: live order book, 7 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 Nado live order book, 7 min ago	2.04 bp	8.9 bp −$9	36.4 bp −$364	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	−0.3798%	1h	0.2898	−1.160%	$3K	$205K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0340% / S +0.0664%	1h	0.2929	−0.087%	$16K	—	100x	as long as short
Bybit JUPUSDT	−0.0159%	4h	0.2930	−0.069%	$15.9M	$16.9M	50x	as long as short
Pacifica JUP	−0.0070%	1h	0.2933	+0.042%	$280K	$138K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2931	−0.025%	$53K	$17K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2927	−0.161%	$16K	—	150x	as long as short
Reya JUPRUSDPERPlong	+0.0057%	1h	0.2932	long leg	—	—	20x
dYdX JUP-USD	+0.0067%	1h	0.2936	+0.150%	$39K	$16K	5x	as long as short
Lighter JUP	+0.0096%	1h	0.2933	+0.023%	$759K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0097%	8h	0.2931	−0.038%	$9K	$11K	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	0.2933	+0.020%	$18.1M	$9.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2930	−0.076%	$101K	$297K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2932	−0.001%	$16.0M	$38.1M	75x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2933	+0.033%	$4.1M	$10.0M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2924	−0.276%	$61K	$2K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2929	−0.103%	$694K	$1.3M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2929	−0.103%	$7.8M	$5.6M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2931	−0.035%	$4.0M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2931	−0.035%	$5.8M	$4.6M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2929	−0.103%	—	$20.5M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2929	−0.089%	$972K	$222K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2923	−0.307%	$710K	$485K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2930	−0.069%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2927	−0.171%	$161K	$249K	50x	as long as short
Nado JUP-PERPshort	+0.0100%	1h	0.2931	−0.035%	$579K	$490K	10x
Polymarket Perps JUP-USD	+0.0100%	1h	0.2932	−0.001%	$92K	$105K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2930	−0.069%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2924	−0.274%	$112K	$46K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2934	+0.067%	$2.9M	$2.9M	50x	as long as short
Extended JUP-USD	+0.0104%	1h	0.2929	−0.107%	$2.2M	$566K	25x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2928	−0.120%	$40K	—	3x	as long as short
01 Exchange JUPUSD	+0.0200%	1h	0.2933	+0.037%	$26K	$2K	5x	as long as short
Phoenix JUP	+0.0272%	1h	0.2929	−0.089%	$106K	$275K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0279%	1h	0.2931	−0.023%	$578K	$404K	20x	as long as short
Coinbase International JUP-PERP-INTX	+0.0320%	1h	0.2957	+0.835%	$75K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2927	−0.171%	$822K	$374K	50x	as long as short