Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0898%/8h= −98.4% APRnext payment −$1.12 per $10,000 · paid last 24h —

Price spread now: Reya against Backpack+6.875%7-day average — · you sell dearer than you buy

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

Long on Backpack 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 airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 6.875% dearer against Backpack than usual: you sell high and buy low (spread +6.875% now, against zero (this spread has no 7-day history yet)): +$687 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack JTO_USDC_PERP	0.5183	0.0898	pay 0.0112% / 1h	58m 30s	$225K	$518K	10x
Short	Reya JTORUSDPERP	0.5540	0	get 0.0000% / 1h	58m 30s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Backpack. 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 BackpackbpFee ReyabpOrdersPrice spread, now +6.875%Rate

Funding earned: −$188.68
Price spread: +6.875% → 0.000%: $687.47
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $482.79
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Backpack: live order book, 25 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 Backpack live order book, 25 min ago	0.10 bp	14.0 bp −$14	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	−0.0715%	1h	0.5178	−0.100%	$13K	$11K	10x	as long as short
Gate JTO_USDT	−0.0143%	8h	0.5176	−0.139%	$936K	$1.5M	75x	as long as short
OKX JTO-USDT-SWAP	−0.0118%	4h	0.5171	−0.235%	$3.9M	$9.9M	50x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5179	−0.086%	$4K	$4K	5x	as long as short
Reya JTORUSDPERPshort	0.0000%	1h	0.5540	+6.875%	—	—	—
Paradex JTO-USD-PERP	+0.0003%	8h	0.5177	−0.126%	$517	—	5x	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−4.055%	$31	$43K	5.5x	as long as short
Lighter JTO	+0.0096%	1h	0.5182	−0.017%	$100K	$173K	10x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5179	−0.078%	$174K	$176K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5176	−0.146%	$11.6M	$27.9M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit JTOUSDT	+0.0100%	4h	0.5179	−0.081%	$7.6M	$13.6M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5163	−0.390%	$56K	$2K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5178	−0.100%	$7.1M	$3.6M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5182	−0.023%	$1.7M	$664K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5176	−0.139%	$2.5M	$2.4M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5179	−0.081%	—	$63.5M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5173	−0.191%	$183K	$258K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5176	−0.139%	$4K	$2K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5176	−0.137%	$523K	$854K	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5180	−0.064%	$2K	—	50x	as long as short
Coinbase International JTO-PERP-INTX	+0.0304%	1h	0.5193	+0.189%	$57K	$125K	25x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5170	−0.255%	$641K	$576K	75x	as long as short
Hyperliquid JTO	+0.0428%	1h	0.5183	+0.002%	$7.3M	$3.1M	5x	as long as short
Phoenix JTO	+0.0463%	1h	0.5179	−0.081%	$372K	$267K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0513%	1h	0.5184	+0.023%	$353K	$312K	25x	as long as short
Backpack JTO_USDC_PERPlong	+0.0898%	1h	0.5183	long leg	$225K	$518K	10x