Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0233%/8h= −25.5% APRnext payment −$0.29 per $10,000 · paid last 24h —

Price spread now: Reya against Backpack+9.437%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 9.437% dearer against Backpack than usual: you sell high and buy low (spread +9.437% now, against zero (this spread has no 7-day history yet)): +$944 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 4 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JTO_USDC_PERP	0.5062	0.0233	pay 0.0029% / 1h	39m 08s	$264K	$304K	10x
Short	Reya JTORUSDPERP	0.5539	0	get 0.0000% / 1h	39m 08s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Backpack. 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 BackpackbpFee ReyabpOrdersPrice spread, now +9.437%Rate

Funding earned: −$48.97
Price spread: +9.437% → 0.000%: $943.69
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $878.71
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Backpack: live order book, 4 min ago; Reya: no order-book sample. 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 Backpack live order book, 4 min ago	1.47 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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.

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	−0.0540%	1h	0.5059	−0.055%	$12K	$30K	10x	as long as short
Gate JTO_USDT	−0.0163%	8h	0.5057	−0.095%	$888K	$1.0M	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5065	+0.063%	$4K	$4K	5x	as long as short
Reya JTORUSDPERPshort	0.0000%	1h	0.5539	+9.437%	—	—	—
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−1.754%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERP	+0.0083%	8h	0.5061	−0.019%	$485	$10	5x	as long as short
Lighter JTO	+0.0096%	1h	0.5067	+0.109%	$113K	$240K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5064	+0.041%	$6.9M	$3.0M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5064	+0.048%	$118K	$230K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5060	−0.036%	$10.8M	$28.7M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JTOUSDT	+0.0100%	4h	0.5056	−0.115%	$6.8M	$14.3M	50x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5051	−0.213%	$3.8M	$9.7M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5077	+0.300%	$55K	$2K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5059	−0.055%	$5.9M	$3.5M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5068	+0.122%	$1.5M	$620K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5058	−0.075%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5054	−0.154%	—	$8.6M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5079	+0.332%	$218K	$240K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5061	−0.016%	$4K	$918	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5058	−0.077%	$509K	$2.2M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0223% / S −0.2181%	1h	0.5062	+0.013%	$2K	—	50x	as long as short
Backpack JTO_USDC_PERPlong	+0.0233%	1h	0.5062	long leg	$264K	$304K	10x
BloFin JTO-USDT	+0.0340%	4h	0.5060	−0.036%	$595K	$534K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0456%	1h	0.5089	+0.537%	$59K	$136K	25x	as long as short
Phoenix JTO	+0.0467%	1h	0.5085	+0.458%	$375K	$118K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0850%	1h	0.5074	+0.249%	$340K	$355K	25x	as long as short