Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: Reya against Hyperliquid+7.413%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid 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 airdropHyperliquid: Season 2 · Reya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 7.413% dearer against Hyperliquid than usual: you sell high and buy low (spread +7.413% now, against zero (this spread has no 7-day history yet)): +$741 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid JTO	0.5157	0.0100	pay 0.0013% / 1h	45m 44s	$7.3M	$3.2M	5x
Short	Reya JTORUSDPERP	0.5540	0	get 0.0000% / 1h	45m 44s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Hyperliquid. 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 HyperliquidbpFee ReyabpOrdersPrice spread, now +7.413%Rate

Funding earned: −$21
Price spread: +7.413% → 0.000%: $741.3
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: $705.3
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 6 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 Hyperliquid live order book, 6 min ago	1.94 bp	12.1 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	−0.0914%	1h	0.5147	−0.200%	$13K	$11K	10x	as long as short
Gate JTO_USDT	−0.0135%	8h	0.5146	−0.219%	$933K	$1.5M	75x	as long as short
OKX JTO-USDT-SWAP	−0.0064%	4h	0.5145	−0.238%	$3.9M	$9.8M	50x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5154	−0.064%	$4K	$4K	5x	as long as short
Reya JTORUSDPERPshort	0.0000%	1h	0.5540	+7.413%	—	—	—
Paradex JTO-USD-PERP	+0.0014%	8h	0.5146	−0.224%	$514	—	5x	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.574%	$31	$43K	5.5x	as long as short
Lighter JTO	+0.0096%	1h	0.5153	−0.081%	$99K	$184K	10x	as long as short
Hyperliquid JTOlong	+0.0100%	1h	0.5157	long leg	$7.3M	$3.2M	5x
Aster JTOUSDT	+0.0100%	4h	0.5151	−0.122%	$173K	$175K	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	0.5146	−0.219%	$11.5M	$27.9M	75x	as long as short
Bybit JTOUSDT	+0.0100%	4h	0.5151	−0.122%	$7.5M	$13.5M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5155	−0.045%	$56K	$2K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5147	−0.200%	$7.1M	$3.7M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5153	−0.074%	$1.6M	$572K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5148	−0.180%	$2.5M	$2.4M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5148	−0.180%	—	$63.5M	—	as long as short
Backpack JTO_USDC_PERP	+0.0100%	1h	0.5153	−0.089%	$263K	$514K	10x	as long as short
Variational Omni JTO	+0.0100%	4h	0.5146	−0.228%	$183K	$259K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5148	−0.180%	$4K	$2K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5145	−0.229%	$523K	$854K	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5151	−0.120%	$2K	—	50x	as long as short
Coinbase International JTO-PERP-INTX	+0.0320%	1h	0.5202	+0.867%	$57K	$126K	25x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5148	−0.180%	$645K	$574K	75x	as long as short
Phoenix JTO	+0.0463%	1h	0.5153	−0.083%	$371K	$267K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0610%	1h	0.5156	−0.025%	$351K	$312K	25x	as long as short