Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0380%/8h= +41.6% APRpaid last 24h +0.119%

Price spread now: Paradex against Deribit−0.099%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Paradex is 0.099% cheaper against Deribit than usual: you would sell low and buy high (spread −0.099% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 21 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit JTO_USDC-PERPETUAL	0.5094	−0.0339	get 0.0042% / 1h	51m 53s	$13K	$30K	10x
Short	Paradex JTO-USD-PERP	0.5089	0.0042	get 0.0042% / 8h	7h 51m	$488	$10	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now −0.099%Rate

Funding earned: $79.84
Price spread: −0.099% → 0.000%: −$9.89
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $58.94
Costs to cover: 0.110%
Break-even: 1.8 days

Slippage unknown: Deribit: no order-book sample; Paradex: 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 Deribit no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Deribit and Paradex: 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
Bybit JTOUSDT	−0.0592%	4h	0.5094	0.000%	$6.8M	$14.3M	50x	as long as short
Deribit JTO_USDC-PERPETUALlong	−0.0339%	1h	0.5094	long leg	$13K	$30K	10x
Gate JTO_USDT	−0.0005%	8h	0.5094	0.000%	$881K	$924K	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5096	+0.039%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+8.746%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−2.375%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERPshort	+0.0042%	8h	0.5089	−0.099%	$488	$10	5x
Lighter JTO	+0.0096%	1h	0.5100	+0.120%	$114K	$240K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5106	+0.228%	$6.9M	$3.1M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5099	+0.095%	$119K	$233K	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	0.5093	−0.010%	$10.7M	$28.4M	75x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5092	−0.039%	$3.7M	$9.8M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5092	−0.041%	$55K	−$0	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5096	+0.039%	$6.3M	$3.4M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5101	+0.130%	$1.5M	$581K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5094	0.000%	$2.3M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5092	−0.039%	—	$8.6M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5092	−0.046%	$218K	$229K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5093	−0.020%	$4K	$918	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5094	+0.006%	$522K	$2.7M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5097	+0.057%	$2K	—	50x	as long as short
Backpack JTO_USDC_PERP	+0.0242%	1h	0.5104	+0.188%	$240K	$320K	10x	as long as short
Phoenix JTO	+0.0313%	1h	0.5114	+0.393%	$372K	$128K	5x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5082	−0.236%	$582K	$562K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0464%	1h	0.5105	+0.216%	$58K	$134K	25x	as long as short
Kraken Futures PF_JTOUSD	+0.0764%	1h	0.5101	+0.129%	$323K	$369K	25x	as long as short