Funding arb · Price arb /

JTO

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Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: Backpack against Reya−7.518%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Backpack

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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 7.518% cheaper against Reya than usual: you would sell low and buy high (spread −7.518% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$752 on $10k: about 8 months of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya JTORUSDPERP	0.5540	0	get 0.0000% / 1h	52m 18s	—	—	—
Short	Backpack JTO_USDC_PERP	0.5123	0.0100	get 0.0013% / 1h	52m 18s	$267K	$317K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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 ReyabpFee BackpackbpOrdersPrice spread, now −7.518%Rate

Funding earned: $21
Price spread: −7.518% → 0.000%: −$751.84
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$746.84
Costs to cover: 0.160%
Break-even: 255.9 days

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 6 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Backpack live order book, 6 min ago	0.10 bp	15.7 bp −$16	doesn't fit	doesn't fit	doesn't fit

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	−0.0531%	1h	0.5119	−7.592%	$13K	$10K	10x	as long as short
Gate JTO_USDT	−0.0438%	8h	0.5104	−7.863%	$889K	$997K	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5116	−7.644%	$4K	$4K	5x	as long as short
Reya JTORUSDPERPlong	0.0000%	1h	0.5540	long leg	—	—	—
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−10.228%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERP	+0.0079%	8h	0.5105	−7.852%	$509	—	5x	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0094%	4h	0.5103	−7.881%	$3K	$652	10x	as long as short
Lighter JTO	+0.0096%	1h	0.5116	−7.645%	$117K	$226K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5111	−7.734%	$7.0M	$3.1M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5108	−7.796%	$125K	$219K	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	0.5101	−7.913%	$11.2M	$27.3M	75x	as long as short
Bybit JTOUSDT	+0.0100%	4h	0.5104	−7.863%	$7.1M	$13.9M	50x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5100	−7.935%	$3.8M	$9.3M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5138	−7.247%	$56K	$17K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5101	−7.917%	$6.6M	$3.3M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5111	−7.731%	$1.5M	$596K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5101	−7.917%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5102	−7.899%	—	$68.0M	—	as long as short
Backpack JTO_USDC_PERPshort	+0.0100%	1h	0.5123	−7.518%	$267K	$317K	10x
Variational Omni JTO	+0.0100%	4h	0.5146	−7.111%	$223K	$288K	—	as long as short
Extended JTO-USD	+0.0104%	1h	0.5105	−7.849%	$518K	$1.7M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5106	−7.823%	$2K	—	50x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5121	−7.556%	$619K	$502K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0416%	1h	0.5147	−7.087%	$59K	$136K	25x	as long as short
Phoenix JTO	+0.0469%	1h	0.5150	−7.033%	$380K	$110K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0734%	1h	0.5125	−7.478%	$336K	$312K	25x	as long as short