Funding arb · Price arb /

JTO

all JTO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.099%

Price spread now: Coinbase International against Bybit+0.523%54s7-day average +0.328% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$990.987% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.544%+$54 on $10k

Price spread, last 3 days (all we have)−0.404%−$40 · spread now +0.523%, 7d avg +0.328%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.195% dearer against Bybit than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.328%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JTOUSDT	0.5165	0.0100	pay 0.0050% / 4h	1h 38m	$7.4M	$13.7M	50x
Short	Coinbase International JTO-PERP-INTX	0.5192	0.0304	get 0.0038% / 1h	38m 21s	$57K	$125K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.523%Rate

Funding earned: $42.84
Price spread: +0.523% → +0.328%: $19.46
Slippage, 4 orders: −$77.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$36.45
Costs to cover: 0.987%
Break-even: 13.0 days

Slippage from Bybit: live order book, 5 min ago; Coinbase International: live order book, 44 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, 5 min ago	0.96 bp	26.4 bp −$26	66.3 bp −$663	doesn't fit	doesn't fit
Sell Coinbase International live order book, 44 min ago	16.41 bp	21.4 bp −$21	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	−0.0523%	1h	0.5172	+0.136%	$13K	$11K	10x	as long as short
Gate JTO_USDT	−0.0162%	8h	0.5162	−0.058%	$933K	$1.5M	75x	as long as short
OKX JTO-USDT-SWAP	−0.0091%	4h	0.5161	−0.077%	$3.9M	$9.9M	50x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5168	+0.061%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5539	+7.248%	—	—	—	as long as short
Paradex JTO-USD-PERP	+0.0023%	8h	0.5158	−0.138%	$515	—	5x	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.717%	$31	$43K	5.5x	as long as short
Bulk JTO-USD	+0.0064%	1h	0.5180	+0.295%	$56K	$1K	10x	as long as short
Lighter JTO	+0.0096%	1h	0.5170	+0.093%	$99K	$174K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5171	+0.106%	$7.3M	$3.1M	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	0.5166	+0.024%	$173K	$176K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5162	−0.058%	$11.6M	$27.9M	75x	as long as short
Bybit JTOUSDTlong	+0.0100%	4h	0.5165	long leg	$7.4M	$13.7M	50x
MEXC JTO_USDT	+0.0100%	4h	0.5161	−0.077%	$7.2M	$3.7M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5170	+0.101%	$1.6M	$641K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5162	−0.058%	$2.5M	$2.4M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5163	−0.039%	—	$63.6M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5184	+0.366%	$184K	$258K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5161	−0.077%	$4K	$2K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5161	−0.077%	$523K	$854K	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5166	+0.014%	$2K	—	50x	as long as short
Backpack JTO_USDC_PERP	+0.0237%	1h	0.5177	+0.228%	$227K	$508K	10x	as long as short
Coinbase International JTO-PERP-INTXshort	+0.0304%	1h	0.5192	+0.523%	$57K	$125K	25x
BloFin JTO-USDT	+0.0340%	4h	0.5170	+0.097%	$638K	$577K	75x	as long as short
Phoenix JTO	+0.0463%	1h	0.5190	+0.484%	$373K	$267K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0514%	1h	0.5178	+0.255%	$352K	$312K	25x	as long as short