Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0438%/8h= +48.0% APRpaid last 24h +0.012%

Price spread now: Phemex against 01 Exchange+0.068%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phemex is 0.068% dearer against 01 Exchange than usual: you sell high and buy low: +$7 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	01 Exchange JUPUSD	0.2937	0.0136	pay 0.0017% / 1h	14m 00s	$26K	$10K	5x
Short	Phemex JUPUSDT	0.2939	0.0574	get 0.0287% / 4h	2h 14m	$2.9M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now +0.068%Rate

Funding earned: $92.07
Price spread: +0.068% → 0.000%: $6.81
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: $79.88
Costs to cover: 0.190%
Break-even: 0.9 days

Slippage unknown: 01 Exchange: no order-book sample; Phemex: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	3.41 bp	22.2 bp −$22	doesn't fit	doesn't fit	doesn't fit

01 Exchange: 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	−0.4499%	1h	0.2882	−1.873%	$3K	$206K	5.5x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0275% / S +0.0618%	1h	0.2936	−0.031%	$16K	—	100x	as long as short
Pacifica JUP	−0.0230%	1h	0.2933	−0.136%	$279K	$141K	10x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0001% / S −0.0001%	1h	0.2935	−0.059%	—	—	150x	as long as short
dYdX JUP-USD	+0.0009%	1h	0.2932	−0.156%	$39K	$19K	5x	as long as short
Reya JUPRUSDPERP	+0.0057%	1h	0.2936	−0.050%	—	—	20x	as long as short
Lighter JUP	+0.0096%	1h	0.2940	+0.099%	$763K	$1.0M	10x	as long as short
Paradex JUP-USD-PERP	+0.0100%	8h	0.2934	−0.117%	$9K	$11K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2934	−0.111%	$581K	$494K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2939	+0.065%	$18.2M	$9.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JUPUSDT	+0.0100%	4h	0.2936	−0.051%	$107K	$281K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2937	0.000%	$16.1M	$39.8M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2935	−0.068%	$15.9M	$17.9M	50x	as long as short
OKX JUP-USDT-SWAP	+0.0100%	4h	0.2938	+0.034%	$4.1M	$10.9M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2899	−1.294%	$60K	$280	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2934	−0.102%	$721K	$1.4M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2936	−0.034%	$6.8M	$6.1M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2937	0.000%	$4.0M	$6.6M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2936	−0.034%	$5.8M	$5.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2935	−0.068%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2939	+0.061%	$970K	$192K	10x	as long as short
Variational Omni JUP	+0.0100%	4h	0.2924	−0.442%	$709K	$626K	—	as long as short
GRVT JUP_USDT_Perp	+0.0100%	4h	0.2929	−0.272%	$1.6M	$4.0M	10x	as long as short
ApeX Omni JUPUSDT	+0.0100%	1h	0.2926	−0.375%	$161K	$255K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2938	+0.037%	$93K	$104K	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2936	−0.034%	$33K	$29K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2925	−0.409%	$110K	$44K	20x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2938	+0.027%	$40K	—	3x	as long as short
01 Exchange JUPUSDlong	+0.0136%	1h	0.2937	long leg	$26K	$10K	5x
Extended JUP-USD	+0.0152%	1h	0.2936	−0.018%	$2.2M	$556K	25x	as long as short
Deribit JUP_USDC-PERPETUAL	+0.0227%	1h	0.2939	+0.054%	$53K	$17K	10x	as long as short
Kraken Futures PF_JUPUSD	+0.0257%	1h	0.2939	+0.074%	$580K	$464K	20x	as long as short
Phoenix JUP	+0.0271%	1h	0.2926	−0.375%	$98K	$280K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2933	−0.123%	$74K	$49K	50x	as long as short
BloFin JUP-USDT	+0.0340%	4h	0.2928	−0.306%	$817K	$377K	50x	as long as short
Phemex JUPUSDTshort	+0.0574%	4h	0.2939	+0.068%	$2.9M	$3.1M	50x