Funding arb · Price arb /

JTO

all JTO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0628%/8h= +68.8% APRpaid last 24h +0.080%

Price spread now: Kraken Futures against Bybit+0.029%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1411.411% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.573%+$57 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.029%, 7d avg +0.078%

Together, before fees+0.556%+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.050% cheaper against Bybit than usual: you would sell low and buy high (spread +0.029% now, against its 7-day average of +0.078%). If the spread goes back, that is −$5 on $10k: about 6 hours of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.573% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JTOUSDT	0.5162	0.0100	pay 0.0050% / 4h	12m 02s	$7.1M	$14.0M	50x
Short	Kraken Futures PF_JTOUSD	0.5163	0.0728	get 0.0091% / 1h	12m 02s	$337K	$311K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.029%Rate

Funding earned: $131.94
Price spread: +0.029% → +0.078%: −$4.98
Slippage, 4 orders: −$120.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$14.19
Costs to cover: 1.411%
Break-even: 7.8 days

Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 46 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 Bybit live order book, 1 min ago	0.97 bp	29.7 bp −$30	70.7 bp −$707	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 46 min ago	19.58 bp	46.5 bp −$47	473.3 bp −$4,733	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	−0.0379%	8h	0.5157	−0.097%	$895K	$1.0M	75x	as long as short
Deribit JTO_USDC-PERPETUAL	−0.0331%	1h	0.5159	−0.058%	$13K	$10K	10x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5163	+0.020%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+7.315%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.661%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERP	+0.0080%	8h	0.5158	−0.070%	$515	—	5x	as long as short
OKX JTO-USDT-SWAP	+0.0094%	4h	0.5158	−0.077%	$3.9M	$9.4M	50x	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0094%	4h	0.5158	−0.077%	$4K	$652	10x	as long as short
Lighter JTO	+0.0096%	1h	0.5164	+0.043%	$118K	$226K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5168	+0.112%	$7.0M	$3.0M	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JTOUSDT	+0.0100%	4h	0.5160	−0.039%	$126K	$217K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5160	−0.034%	$11.3M	$27.5M	75x	as long as short
Bybit JTOUSDTlong	+0.0100%	4h	0.5162	long leg	$7.1M	$14.0M	50x
Bulk JTO-USD	+0.0100%	1h	0.5151	−0.213%	$56K	$17K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5159	−0.058%	$6.3M	$3.5M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5161	−0.027%	$1.5M	$603K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5163	+0.019%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5159	−0.058%	—	$68.0M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5153	−0.182%	$223K	$266K	—	as long as short
Extended JTO-USD	+0.0104%	1h	0.5160	−0.048%	$518K	$1.7M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5161	−0.022%	$2K	—	50x	as long as short
Backpack JTO_USDC_PERP	+0.0259%	1h	0.5168	+0.118%	$269K	$316K	10x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5157	−0.097%	$621K	$507K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0416%	1h	0.5168	+0.116%	$58K	$137K	25x	as long as short
Phoenix JTO	+0.0469%	1h	0.5162	0.000%	$381K	$110K	5x	as long as short
Kraken Futures PF_JTOUSDshort	+0.0728%	1h	0.5163	+0.029%	$337K	$311K	25x