Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2081%/8h= +227.9% APRpaid last 24h +0.588%

Price spread now: GMX against Bybit−0.021%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.021% cheaper against Bybit than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about under an hour of funding at the current rate (+$62 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JTOUSDT	0.5140	0.0100	pay 0.0050% / 4h	2h 01m	$7.0M	$14.2M	50x
Short	GMX JTO/USD [WBTC.b-USDC]	0.5139	L +0.0224% / S −0.2181%	get 0.0273% / 1h	1m 21s	$2K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $436.99
Price spread: −0.021% → 0.000%: −$2.08
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $411.91
Costs to cover: 0.230%
Break-even: 0.4 days

Slippage unknown: Bybit: live order book, 2 min ago; GMX: 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 Bybit live order book, 2 min ago	0.97 bp	23.9 bp −$24	60.4 bp −$604	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Gate JTO_USDT	−0.0191%	8h	0.5139	−0.019%	$904K	$1.0M	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5138	−0.037%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+7.777%	—	—	—	as long as short
Deribit JTO_USDC-PERPETUAL	0.0000%	1h	0.5140	0.000%	$13K	$30K	10x	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.249%	$31	$43K	5.5x	as long as short
OKX JTO-USDT-SWAP	+0.0076%	4h	0.5138	−0.039%	$3.8M	$9.6M	50x	as long as short
Paradex JTO-USD-PERP	+0.0085%	8h	0.5136	−0.069%	$492	$10	5x	as long as short
Lighter JTO	+0.0096%	1h	0.5147	+0.138%	$115K	$236K	10x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5141	+0.020%	$122K	$220K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5137	−0.050%	$11.2M	$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 JTOUSDTlong	+0.0100%	4h	0.5140	long leg	$7.0M	$14.2M	50x
Bulk JTO-USD	+0.0100%	1h	0.5137	−0.058%	$56K	$2K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5138	−0.039%	$6.0M	$3.6M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5141	+0.016%	$1.5M	$612K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5141	+0.019%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5139	−0.019%	—	$8.6M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5153	+0.245%	$221K	$241K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5138	−0.039%	$4K	$652	10x	as long as short
Hyperliquid JTO	+0.0102%	1h	0.5148	+0.161%	$7.0M	$3.0M	5x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5137	−0.056%	$518K	$2.2M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]short	L +0.0224% / S −0.2181%	1h	0.5139	−0.021%	$2K	—	50x
Backpack JTO_USDC_PERP	+0.0270%	1h	0.5147	+0.136%	$265K	$307K	10x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5142	+0.039%	$602K	$542K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0440%	1h	0.5159	+0.370%	$59K	$133K	25x	as long as short
Phoenix JTO	+0.0464%	1h	0.5152	+0.233%	$380K	$118K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0481%	1h	0.5152	+0.233%	$344K	$347K	25x	as long as short