Funding you earn now, next payment 11:00 UTC+0.0671%/8h= +73.4% APRnext payment +$0.84 per $10,000 · paid last 24h −0.007%
Price spread now: Backpack against Kraken Futures+0.109%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$120as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$950.947% of the position
Funding, last 7 days−0.250%−$25 on $10k
+Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.109%, 7d avg +0.027%
=Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Backpack is 0.082% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.027%. Mind the row above: over the last 7 days funding on this pair cost −0.250%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.250% in total (about -13.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.84 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_JTOUSD | 0.5055 | −0.0316 | get 0.0040% / 1h | 57m 56s | $330K | $402K | 25x |
| Short | Backpack JTO_USDC_PERP | 0.5060 | 0.0354 | get 0.0044% / 1h | 57m 56s | $235K | $337K | 10x |
Kraken Futures PF_JTOUSD
Backpack JTO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- $140.82
- Price spread: +0.109% → +0.027%
- $8.22
- Slippage, 4 orders
- −$74.74
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $54.3
- Costs to cover
- 0.947%
- Break-even
- 4.3 days
Slippage from Kraken Futures: live order book, 53 min ago; Backpack: live order book, 53 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 Kraken Futures live order book, 53 min ago | 21.76 bp | 33.6 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 53 min ago | 0.89 bp | 15.7 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
JTO on 26 exchanges
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 | −0.0541% | 1h | 0.5054 | −0.012% | $23K | $40K | 10x | as long as short |
| Kraken Futures PF_JTOUSDlong | −0.0316% | 1h | 0.5055 | long leg | $330K | $402K | 25x | |
| Bybit JTOUSDT | −0.0129% | 4h | 0.5052 | −0.051% | $6.6M | $13.3M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5059 | +0.084% | $3K | $5K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +9.592% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −1.614% | $31 | $43K | 5.5x | as long as short |
| Paradex JTO-USD-PERP | +0.0052% | 8h | 0.5052 | −0.057% | $484 | $10 | 5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5059 | +0.087% | $113K | $205K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5061 | +0.123% | $6.8M | $2.8M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5059 | +0.091% | $117K | $205K | 10x | as long as short |
Deribit JTO_USDC-PERPETUAL
Bybit JTOUSDT
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Paradex JTO-USD-PERP
Lighter JTO
Hyperliquid JTO
Aster JTOUSDTShow all 26 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance JTOUSDT | +0.0100% | 4h | 0.5051 | −0.064% | $10.5M | $25.7M | 75x | as long as short |
| OKX JTO-USDT-SWAP | +0.0100% | 4h | 0.5051 | −0.071% | $3.7M | $9.2M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5062 | +0.150% | $55K | −$0 | 10x | as long as short |
| Gate JTO_USDT | +0.0100% | 8h | 0.5056 | +0.028% | $877K | $852K | 75x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5052 | −0.051% | $6.0M | $3.0M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5055 | +0.004% | $1.4M | $590K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5054 | −0.012% | $2.2M | $2.2M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5052 | −0.051% | — | $8.3M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5051 | −0.075% | $218K | $192K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5055 | +0.008% | $4K | $798 | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5049 | −0.105% | $519K | $2.7M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0223% / S −0.2181% | 1h | 0.5053 | −0.024% | $2K | — | 50x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5048 | −0.130% | $574K | $522K | 75x | as long as short |
| Backpack JTO_USDC_PERPshort | +0.0354% | 1h | 0.5060 | +0.109% | $235K | $337K | 10x | |
| Coinbase International JTO-PERP-INTX | +0.0440% | 1h | 0.5071 | +0.325% | $55K | $122K | 25x | as long as short |
| Phoenix JTO | +0.0469% | 1h | 0.5064 | +0.186% | $358K | $121K | 5x | as long as short |
Binance JTOUSDT
OKX JTO-USDT-SWAP
Bulk JTO-USD
Gate JTO_USDT
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