Funding arb · Price arb /

JTO

all JTO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0047%/8h= −5.2% APRpaid last 24h −0.093%

Price spread now: MEXC against Backpack−0.077%7-day average −0.149% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.077%, 7d avg −0.149%

Together, before fees−0.197%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.072% dearer against Backpack than usual: you sell high and buy low (spread −0.077% now, against its 7-day average of −0.149%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.1 days. At the pace of the last 7 days (−0.212% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JTO_USDC_PERP	0.5058	0.0147	pay 0.0018% / 1h	23m 49s	$244K	$324K	10x
Short	MEXC JTO_USDT	0.5054	0.0100	get 0.0050% / 4h	23m 49s	$6.0M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$9.95
Price spread: −0.077% → −0.149%: $7.2
Slippage, 4 orders: −$28.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$41.43
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from Backpack: live order book, 15 min ago; MEXC: live order book, 4 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, 15 min ago	0.10 bp	9.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	3.93 bp	8.2 bp −$8	19.3 bp −$193	79.3 bp −$7,928	187.6 bp −$93.8K

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	−0.0541%	1h	0.5052	−0.117%	$12K	$30K	10x	as long as short
Gate JTO_USDT	−0.0051%	8h	0.5054	−0.077%	$876K	$1.0M	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5066	+0.160%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5539	+9.520%	—	—	—	as long as short
Bybit JTOUSDT	+0.0024%	4h	0.5053	−0.097%	$6.7M	$14.3M	50x	as long as short
Paradex JTO-USD-PERP	+0.0033%	8h	0.5057	−0.020%	$484	$10	5x	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−1.679%	$31	$43K	5.5x	as long as short
Lighter JTO	+0.0096%	1h	0.5059	+0.018%	$113K	$243K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5060	+0.038%	$6.9M	$3.1M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5059	+0.031%	$118K	$230K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance JTOUSDT	+0.0100%	4h	0.5052	−0.117%	$10.7M	$28.6M	75x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5052	−0.117%	$3.7M	$9.7M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5077	+0.378%	$55K	−$0	10x	as long as short
MEXC JTO_USDTshort	+0.0100%	4h	0.5054	−0.077%	$6.0M	$3.5M	50x
KuCoin JTOUSDTM	+0.0100%	4h	0.5059	+0.014%	$1.5M	$588K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5055	−0.057%	$2.3M	$2.4M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5053	−0.097%	—	$8.6M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5065	+0.142%	$217K	$229K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5052	−0.117%	$4K	$918	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5053	−0.104%	$519K	$2.7M	10x	as long as short
Backpack JTO_USDC_PERPlong	+0.0147%	1h	0.5058	long leg	$244K	$324K	10x
GMX JTO/USD [WBTC.b-USDC]	L +0.0223% / S −0.2181%	1h	0.5055	−0.063%	$2K	—	50x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5060	+0.042%	$584K	$560K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0464%	1h	0.5054	−0.077%	$57K	$131K	25x	as long as short
Phoenix JTO	+0.0472%	1h	0.5098	+0.793%	$371K	$123K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0850%	1h	0.5060	+0.034%	$321K	$371K	25x	as long as short