Funding you earn now, next payment 21:00 UTC+0.0030%/8h= +3.3% APRnext payment +$0.04 per $10,000 · paid last 24h +0.016%
Price spread now: Backpack against Coinbase International−0.085%7-day average −0.222% · you buy dearer than you sell
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$750.746% of the position
Funding, last 7 days−0.241%−$24 on $10k
+Price spread, last 3 days (all we have)−0.105%−$11 · spread now −0.085%, 7d avg −0.222%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.137% dearer against Coinbase International than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.222%. Mind the row above: over the last 7 days funding on this pair cost −0.241%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International JTO-PERP-INTX | 0.5193 | 0.0320 | pay 0.0040% / 1h | 14m 34s | $57K | $125K | 25x |
| Short | Backpack JTO_USDC_PERP | 0.5189 | 0.0350 | get 0.0044% / 1h | 14m 34s | $264K | $501K | 10x |
Coinbase International JTO-PERP-INTX
Backpack JTO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Coinbase International. 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
- $6.29
- Price spread: −0.085% → −0.222%
- $13.72
- Slippage, 4 orders
- −$54.62
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$54.61
- Costs to cover
- 0.746%
- Break-even
- 67.8 days
Slippage from Coinbase International: live order book, 8 min ago; Backpack: live order book, 9 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 Coinbase International live order book, 8 min ago | 16.41 bp | 27.2 bp −$27 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 9 min ago | 0.10 bp | 12.1 bp −$12 | 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 | −0.1099% | 1h | 0.5183 | −0.193% | $13K | $11K | 10x | as long as short |
| Gate JTO_USDT | −0.0163% | 8h | 0.5186 | −0.135% | $940K | $1.5M | 75x | as long as short |
| OKX JTO-USDT-SWAP | −0.0071% | 4h | 0.5184 | −0.173% | $3.9M | $9.9M | 50x | as long as short |
| Paradex JTO-USD-PERP | −0.0001% | 8h | 0.5184 | −0.179% | $517 | — | 5x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5188 | −0.103% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +6.671% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −4.236% | $31 | $43K | 5.5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5191 | −0.035% | $100K | $184K | 10x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5190 | −0.062% | $174K | $176K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5184 | −0.165% | $11.6M | $27.9M | 75x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
OKX JTO-USDT-SWAP
Paradex JTO-USD-PERP
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Lighter JTO
Aster JTOUSDT
Binance JTOUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit JTOUSDT | +0.0100% | 4h | 0.5192 | −0.019% | $7.6M | $13.6M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5185 | −0.164% | $56K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5184 | −0.173% | $7.1M | $3.7M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5191 | −0.044% | $1.5M | $610K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5186 | −0.135% | $2.6M | $2.4M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5187 | −0.116% | — | $63.5M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5191 | −0.033% | $184K | $259K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5184 | −0.173% | $4K | $2K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5183 | −0.187% | $526K | $854K | 10x | as long as short |
| Hyperliquid JTO | +0.0118% | 1h | 0.5197 | +0.081% | $7.3M | $3.2M | 5x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5189 | −0.078% | $2K | — | 50x | as long as short |
| Coinbase International JTO-PERP-INTXlong | +0.0320% | 1h | 0.5193 | long leg | $57K | $125K | 25x | |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5186 | −0.135% | $640K | $578K | 75x | as long as short |
| Backpack JTO_USDC_PERPshort | +0.0350% | 1h | 0.5189 | −0.085% | $264K | $501K | 10x | |
| Phoenix JTO | +0.0463% | 1h | 0.5198 | +0.096% | $374K | $267K | 5x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0606% | 1h | 0.5190 | −0.049% | $354K | $312K | 25x | as long as short |
Bybit JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Extended JTO-USD
Hyperliquid JTO
GMX JTO/USD [WBTC.b-USDC]
BloFin JTO-USDT
Phoenix JTO
Kraken Futures PF_JTOUSD