Funding arb · Price arb /

JTO

all JTO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h +0.008%

Price spread now: BloFin against Kraken Futures−0.305%57s7-day average −0.171% · you buy dearer than you sell

Net, funding: paid 7d − costs−$136as 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−$1381.382% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now −0.305%, 7d avg −0.171%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BloFin is 0.134% cheaper against Kraken Futures than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.171%). Swap the legs. The two prices were read 57 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	Kraken Futures PF_JTOUSD	0.5186	0.0477	pay 0.0060% / 1h	51m 31s	$335K	$313K	25x
Short	BloFin JTO-USDT	0.5170	0.0340	get 0.0170% / 4h	2h 51m	$614K	$537K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now −0.305%Rate

Funding earned: −$28.86
Price spread: −0.305% → −0.171%: −$13.44
Slippage, 4 orders: −$116.17
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$180.47
Costs to cover: 1.382%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 61 min ago; BloFin: live order book, 40 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, 61 min ago	29.97 bp	50.1 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 40 min ago	1.93 bp	22.7 bp −$23	47.7 bp −$477	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
Gate JTO_USDT	−0.0344%	8h	0.5175	−0.209%	$895K	$986K	75x	as long as short
Deribit JTO_USDC-PERPETUAL	−0.0329%	1h	0.5181	−0.093%	$13K	$10K	10x	as long as short
Bybit JTOUSDT	−0.0134%	4h	0.5175	−0.209%	$7.1M	$14.0M	50x	as long as short
OKX JTO-USDT-SWAP	−0.0070%	4h	0.5176	−0.190%	$3.9M	$9.4M	50x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5174	−0.226%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+6.822%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−4.104%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERP	+0.0096%	8h	0.5170	−0.298%	$516	—	5x	as long as short
Lighter JTO	+0.0096%	1h	0.5180	−0.122%	$116K	$228K	10x	as long as short
Variational Omni JTO	+0.0100%	4h	0.5180	−0.120%	$222K	$242K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid JTO	+0.0100%	1h	0.5189	+0.057%	$7.1M	$3.0M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5177	−0.171%	$123K	$219K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5172	−0.267%	$11.3M	$27.6M	75x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5168	−0.344%	$6.1M	$3.5M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5181	−0.099%	$1.6M	$605K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5180	−0.113%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5175	−0.209%	—	$8.8M	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5179	−0.132%	$4K	$652	10x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5173	−0.248%	$56K	$2K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5169	−0.332%	$521K	$2.2M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5183	−0.063%	$2K	—	50x	as long as short
BloFin JTO-USDTshort	+0.0340%	4h	0.5170	−0.305%	$614K	$537K	75x
Coinbase International JTO-PERP-INTX	+0.0440%	1h	0.5193	+0.138%	$59K	$138K	25x	as long as short
Phoenix JTO	+0.0464%	1h	0.5186	+0.003%	$383K	$118K	5x	as long as short
Kraken Futures PF_JTOUSDlong	+0.0477%	1h	0.5186	long leg	$335K	$313K	25x
Backpack JTO_USDC_PERP	+0.1038%	1h	0.5188	+0.042%	$267K	$311K	10x	as long as short