JTO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0122%/8h= +13.4% APRnext payment +$0.15 per $10,000 · paid last 24h −0.030%

Price spread now: Kraken Futures against Backpack−0.125%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1311.314% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.247%+$25 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.125%, 7d avg −0.029%

Together, before fees+0.449%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.096% cheaper against Backpack than usual: you would sell low and buy high (spread −0.125% now, against its 7-day average of −0.029%). If the spread goes back, that is −$10 on $10k: about 2.6 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JTO_USDC_PERP	0.5131	0.0361	pay 0.0045% / 1h	38m 07s	$267K	$310K	10x
Short	Kraken Futures PF_JTOUSD	0.5124	0.0483	get 0.0060% / 1h	38m 07s	$331K	$313K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.125%Rate

Funding earned: $25.67
Price spread: −0.125% → −0.029%: −$9.57
Slippage, 4 orders: −$111.36
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$115.25
Costs to cover: 1.314%
Break-even: 38.4 days

Slippage from Backpack: live order book, 10 min ago; Kraken Futures: live order book, 10 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, 10 min ago	1.05 bp	10.5 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 10 min ago	26.13 bp	51.2 bp −$51	263.0 bp −$2,630	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	−0.0336%	1h	0.5119	−0.228%	$3K	$20K	10x	as long as short
Gate JTO_USDT	−0.0301%	8h	0.5121	−0.189%	$885K	$1.0M	75x	as long as short
OKX JTO-USDT-SWAP	−0.0033%	4h	0.5121	−0.189%	$3.8M	$9.5M	50x	as long as short
Bybit JTOUSDT	−0.0015%	4h	0.5125	−0.111%	$7.0M	$14.1M	50x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5118	−0.243%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+7.970%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.074%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERP	+0.0090%	8h	0.5116	−0.280%	$490	$10	5x	as long as short
Lighter JTO	+0.0096%	1h	0.5128	−0.051%	$114K	$229K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5134	+0.060%	$7.0M	$3.0M	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JTOUSDT	+0.0100%	4h	0.5126	−0.087%	$122K	$219K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5124	−0.135%	$11.1M	$27.8M	75x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5125	−0.111%	$56K	$2K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5122	−0.170%	$6.0M	$3.5M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5121	−0.199%	$1.5M	$608K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5123	−0.150%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5123	−0.150%	—	$8.8M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5107	−0.469%	$219K	$242K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5119	−0.228%	$3K	$652	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5116	−0.294%	$515K	$2.2M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5120	−0.212%	$2K	—	50x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5100	−0.598%	$613K	$530K	75x	as long as short
Backpack JTO_USDC_PERPlong	+0.0361%	1h	0.5131	long leg	$267K	$310K	10x
Coinbase International JTO-PERP-INTX	+0.0440%	1h	0.5209	+1.526%	$59K	$136K	25x	as long as short
Phoenix JTO	+0.0464%	1h	0.5140	+0.181%	$379K	$118K	5x	as long as short
Kraken Futures PF_JTOUSDshort	+0.0483%	1h	0.5124	−0.125%	$331K	$313K	25x