Funding you earn now, next payment 07:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.114%
Price spread now: Backpack against OKX+0.290%56s7-day average +0.170% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as 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−$610.609% of the position
Funding, last 7 days+0.218%+$22 on $10k
+Price spread, last 4 days (all we have)−0.352%−$35 · spread now +0.290%, 7d avg +0.170%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.120% dearer against OKX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.170%. The two prices were read 56 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 | OKX JTO-USDT-SWAP | 0.5104 | 0.0075 | pay 0.0038% / 4h | 1h 55m | $3.8M | $9.6M | 50x |
| Short | Backpack JTO_USDC_PERP | 0.5119 | 0.0100 | get 0.0013% / 1h | 55m 12s | $263K | $303K | 10x |
OKX JTO-USDT-SWAP
Backpack JTO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $5.24
- Price spread: +0.290% → +0.170%
- $12.04
- Slippage, 4 orders
- −$40.9
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$43.62
- Costs to cover
- 0.609%
- Break-even
- 65.3 days
Slippage from OKX: live order book, 3 min ago; Backpack: live order book, 53 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 OKX live order book, 3 min ago | 0.97 bp | 18.2 bp −$18 | 59.3 bp −$593 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 53 min ago | 1.05 bp | 14.2 bp −$14 | doesn't fit | 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 | −0.0175% | 8h | 0.5101 | −0.059% | $897K | $1.0M | 75x | as long as short |
| Deribit JTO_USDC-PERPETUAL | −0.0142% | 1h | 0.5104 | 0.000% | $13K | $30K | 10x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5113 | +0.178% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +8.533% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.567% | $31 | $43K | 5.5x | as long as short |
| OKX JTO-USDT-SWAPlong | +0.0075% | 4h | 0.5104 | long leg | $3.8M | $9.6M | 50x | |
| Paradex JTO-USD-PERP | +0.0086% | 8h | 0.5105 | +0.029% | $489 | $10 | 5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5112 | +0.149% | $114K | $238K | 10x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5110 | +0.123% | $121K | $220K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5104 | 0.000% | $11.1M | $27.8M | 75x | as long as short |
Gate JTO_USDT
Deribit JTO_USDC-PERPETUAL
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Paradex JTO-USD-PERP
Lighter JTO
Aster JTOUSDT
Binance JTOUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit JTOUSDT | +0.0100% | 4h | 0.5104 | 0.000% | $6.9M | $14.2M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5137 | +0.647% | $56K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5102 | −0.039% | $5.9M | $3.5M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5108 | +0.082% | $1.5M | $611K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5105 | +0.020% | $2.4M | $2.2M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5102 | −0.039% | — | $8.6M | — | as long as short |
| Backpack JTO_USDC_PERPshort | +0.0100% | 1h | 0.5119 | +0.290% | $263K | $303K | 10x | |
| Variational Omni JTO | +0.0100% | 4h | 0.5113 | +0.169% | $219K | $241K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5107 | +0.059% | $3K | $652 | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5103 | −0.025% | $515K | $2.2M | 10x | as long as short |
| Hyperliquid JTO | +0.0123% | 1h | 0.5113 | +0.178% | $7.0M | $3.0M | 5x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5106 | +0.038% | $2K | — | 50x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5110 | +0.118% | $601K | $549K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0456% | 1h | 0.5159 | +1.078% | $59K | $133K | 25x | as long as short |
| Phoenix JTO | +0.0464% | 1h | 0.5141 | +0.725% | $379K | $118K | 5x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0844% | 1h | 0.5114 | +0.193% | $342K | $345K | 25x | as long as short |
Bybit JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Extended JTO-USD
Hyperliquid JTO
GMX JTO/USD [WBTC.b-USDC]
BloFin JTO-USDT
Coinbase International JTO-PERP-INTX
Phoenix JTO
Kraken Futures PF_JTOUSD