Funding you earn now, next payment 08:00 UTC+0.0117%/8h= +12.9% APRpaid last 24h +0.112%
Price spread now: Backpack against Bybit+0.164%7-day average +0.096% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$760.764% of the position
Funding, last 7 days+0.345%+$34 on $10k
+Price spread, last 4 days (all we have)−0.171%−$17 · spread now +0.164%, 7d avg +0.096%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.068% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.096%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit JTOUSDT | 0.5108 | 0.0062 | pay 0.0031% / 4h | 14m 30s | $6.8M | $14.4M | 50x |
| Short | Backpack JTO_USDC_PERP | 0.5116 | 0.0179 | get 0.0022% / 1h | 14m 30s | $244K | $325K | 10x |
Bybit JTOUSDT
Backpack JTO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $24.65
- Price spread: +0.164% → +0.096%
- $6.82
- Slippage, 4 orders
- −$55.45
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$44.97
- Costs to cover
- 0.764%
- Break-even
- 19.8 days
Slippage from Bybit: live order book, 4 min ago; Backpack: live order book, 24 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 Bybit live order book, 4 min ago | 1.97 bp | 26.1 bp −$26 | 65.2 bp −$652 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 24 min ago | 0.10 bp | 14.2 bp −$14 | 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 | −0.0141% | 1h | 0.5108 | 0.000% | $13K | $30K | 10x | as long as short |
| Gate JTO_USDT | −0.0033% | 8h | 0.5115 | +0.137% | $886K | $1.0M | 75x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5113 | +0.097% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +8.448% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.643% | $31 | $43K | 5.5x | as long as short |
| Paradex JTO-USD-PERP | +0.0041% | 8h | 0.5115 | +0.137% | $490 | $10 | 5x | as long as short |
| Bybit JTOUSDTlong | +0.0062% | 4h | 0.5108 | long leg | $6.8M | $14.4M | 50x | |
| Lighter JTO | +0.0096% | 1h | 0.5116 | +0.161% | $114K | $243K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5113 | +0.100% | $6.9M | $3.1M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5109 | +0.024% | $119K | $230K | 10x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Paradex JTO-USD-PERP
Lighter JTO
Hyperliquid JTO
Aster JTOUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance JTOUSDT | +0.0100% | 4h | 0.5107 | −0.020% | $10.8M | $28.7M | 75x | as long as short |
| OKX JTO-USDT-SWAP | +0.0100% | 4h | 0.5105 | −0.059% | $3.7M | $9.8M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5073 | −0.677% | $55K | −$0 | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5111 | +0.059% | $6.1M | $3.5M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5115 | +0.129% | $1.5M | $588K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5109 | +0.020% | $2.3M | $2.4M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5108 | 0.000% | — | $8.6M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5095 | −0.260% | $218K | $229K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5105 | −0.059% | $4K | $918 | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5107 | −0.020% | $521K | $2.7M | 10x | as long as short |
| Backpack JTO_USDC_PERPshort | +0.0179% | 1h | 0.5116 | +0.164% | $244K | $325K | 10x | |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5107 | −0.015% | $2K | — | 50x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5090 | −0.352% | $584K | $563K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0464% | 1h | 0.5111 | +0.059% | $58K | $134K | 25x | as long as short |
| Phoenix JTO | +0.0472% | 1h | 0.5102 | −0.117% | $371K | $123K | 5x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0842% | 1h | 0.5112 | +0.076% | $324K | $371K | 25x | as long as short |
Binance JTOUSDT
OKX JTO-USDT-SWAP
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
BloFin JTO-USDT
Coinbase International JTO-PERP-INTX
Phoenix JTO
Kraken Futures PF_JTOUSD