Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0529%/8h= −57.9% APRpaid last 24h −0.090%

Price spread now: Aster against Backpack−0.063%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1021.019% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.257%−$26 on $10k

Price spread, last 4 days (all we have)+0.321%+$32 · spread now −0.063%, 7d avg −0.066%

Together, before fees+0.064%+ Points / potential airdropAster: Stage 5 · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.066%, so right now this pair is about funding alone: −$16 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 6 days it paid -0.257% in total (about -16.9% 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	Backpack JTO_USDC_PERP	0.5144	0.0629	pay 0.0079% / 1h	9m 02s	$264K	$310K	10x
Short	Aster JTOUSDT	0.5141	0.0100	get 0.0050% / 4h	3h 09m	$122K	$219K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$111.03
Price spread: −0.063% → −0.066%: $0.32
Slippage, 4 orders: −$83.89
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$212.61
Costs to cover: 1.019%
Break-even: never at this rate

Slippage from Backpack: live order book, 44 min ago; Aster: live order book, 43 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 Backpack live order book, 44 min ago	0.10 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 43 min ago	9.67 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit

JTO on 26 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
Deribit JTO_USDC-PERPETUAL	−0.0529%	1h	0.5132	−0.243%	$13K	$10K	10x	as long as short
Gate JTO_USDT	−0.0355%	8h	0.5136	−0.165%	$888K	$1.0M	75x	as long as short
Bybit JTOUSDT	−0.0228%	4h	0.5140	−0.087%	$7.0M	$14.0M	50x	as long as short
OKX JTO-USDT-SWAP	−0.0002%	4h	0.5138	−0.126%	$3.8M	$9.3M	50x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5145	+0.010%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5539	+7.677%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.334%	$31	$43K	5.5x	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0094%	4h	0.5133	−0.224%	$4K	$652	10x	as long as short
Lighter JTO	+0.0096%	1h	0.5136	−0.157%	$116K	$228K	10x	as long as short
Paradex JTO-USD-PERP	+0.0097%	8h	0.5142	−0.057%	$513	—	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JTO	+0.0100%	1h	0.5147	+0.054%	$7.0M	$3.0M	5x	as long as short
Aster JTOUSDTshort	+0.0100%	4h	0.5141	−0.063%	$122K	$219K	10x
Binance JTOUSDT	+0.0100%	4h	0.5138	−0.126%	$11.2M	$27.5M	75x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5157	+0.243%	$56K	$9K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5136	−0.165%	$6.1M	$3.5M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5145	+0.016%	$1.5M	$603K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5140	−0.087%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5136	−0.165%	—	$27.5M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5143	−0.038%	$222K	$240K	—	as long as short
Extended JTO-USD	+0.0104%	1h	0.5130	−0.278%	$524K	$1.7M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5135	−0.181%	$2K	—	50x	as long as short
Phoenix JTO	+0.0310%	1h	0.5172	+0.535%	$382K	$114K	5x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5137	−0.146%	$613K	$519K	75x	as long as short
Kraken Futures PF_JTOUSD	+0.0380%	1h	0.5140	−0.083%	$332K	$313K	25x	as long as short
Coinbase International JTO-PERP-INTX	+0.0440%	1h	0.5181	+0.709%	$59K	$137K	25x	as long as short
Backpack JTO_USDC_PERPlong	+0.0629%	1h	0.5144	long leg	$264K	$310K	10x