Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0243%/8h= −26.6% APRpaid last 24h −0.047%

Price spread now: Pacifica against Variational Omni+0.395%52s7-day average −0.003% · you sell dearer than you buy

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.072%−$7 on $10k

Price spread, last 3 days (all we have)−0.545%−$54 · spread now +0.395%, 7d avg −0.003%

Together, before fees−0.617%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.398% dearer against Variational Omni than usual: you sell high and buy low (spread +0.395% now, against its 7-day average of −0.003%): +$40 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 5.5 days. At the pace of the last 3 days (−0.072% in total) that is about 18 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.072% in total (about -7.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni JUP	0.2964	0.0044	pay 0.0022% / 4h	7m 48s	$718K	$777K	—
Short	Pacifica JUP	0.2975	−0.0199	pay 0.0025% / 1h	7m 48s	$283K	$165K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now +0.395%Rate

Funding earned: −$50.94
Price spread: +0.395% → −0.003%: $39.8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$19.15
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 21 min ago; Pacifica: live order book, 5 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 Variational Omni RFQ quote, 21 min ago	8.40 bp	doesn't fit	38.6 bp −$386	doesn't fit	doesn't fit
Sell Pacifica live order book, 5 min ago	1.69 bp	9.7 bp −$10	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	0.2938	−0.863%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2977	+0.459%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0209%	1h	0.2977	+0.454%	$600K	$591K	20x	as long as short
Pacifica JUPshort	−0.0199%	1h	0.2975	+0.395%	$283K	$165K	10x
Bybit JUPUSDT	−0.0057%	4h	0.2973	+0.318%	$16.2M	$22.1M	50x	as long as short
01 Exchange JUPUSD	−0.0040%	1h	0.2978	+0.473%	$26K	$19K	5x	as long as short
Deribit JUP_USDC-PERPETUAL	0.0000%	1h	0.2977	+0.450%	$56K	$14K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2976	+0.419%	$17K	—	150x	as long as short
Variational Omni JUPlong	+0.0044%	4h	0.2964	long leg	$718K	$777K	—
dYdX JUP-USD	+0.0054%	1h	0.2976	+0.405%	$39K	$33K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate JUP_USDT	+0.0054%	4h	0.2974	+0.352%	$741K	$1.8M	75x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2974	+0.338%	—	—	20x	as long as short
OKX JUP-USDT-SWAP	+0.0058%	4h	0.2972	+0.284%	$4.1M	$16.1M	50x	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2974	+0.369%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2975	+0.403%	$795K	$1.4M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0099%	4h	0.2977	+0.453%	$31K	$48K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2974	+0.352%	$617K	$647K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2979	+0.524%	$19.2M	$13.0M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2976	+0.415%	$115K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2974	+0.353%	$16.3M	$51.9M	75x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2972	+0.284%	$62K	$9K	10x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2974	+0.352%	$8.1M	$7.7M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2976	+0.419%	$4.2M	$6.9M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2974	+0.352%	$5.8M	$7.5M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2972	+0.284%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2977	+0.443%	$985K	$234K	10x	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2968	+0.151%	$1.6M	$3.7M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2967	+0.116%	$158K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2983	+0.642%	$94K	$119K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2970	+0.217%	$111K	$62K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2977	+0.453%	$2.9M	$3.9M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2974	+0.335%	$41K	—	3x	as long as short
BloFin JUP-USDT	+0.0134%	4h	0.2973	+0.318%	$637K	$304K	50x	as long as short
Extended JUP-USD	+0.0144%	1h	0.2973	+0.332%	$2.2M	$507K	25x	as long as short
Phoenix JUP	+0.0162%	1h	0.2974	+0.338%	$97K	$479K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0256%	1h	0.2978	+0.487%	$74K	$91K	50x	as long as short