Funding arb · Price arb /

JTO

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Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: Hyperliquid against Reya−8.858%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 Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 8.858% cheaper against Reya than usual: you would sell low and buy high (spread −8.858% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$886 on $10k: about 10 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	0.5539	0	get 0.0000% / 1h	52m 20s	—	—	—
Short	Hyperliquid JTO	0.5049	0.0100	get 0.0013% / 1h	52m 20s	$6.8M	$2.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −8.858%Rate

Funding earned: $21
Price spread: −8.858% → 0.000%: −$885.78
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$879.78
Costs to cover: 0.150%
Break-even: 300.3 days

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 3 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 Hyperliquid live order book, 3 min ago	0.40 bp	doesn't fit	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 exchanges

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	−0.0543%	1h	0.5042	−8.981%	$23K	$40K	10x	as long as short
Kraken Futures PF_JTOUSD	−0.0317%	1h	0.5042	−8.974%	$330K	$402K	25x	as long as short
Bybit JTOUSDT	−0.0181%	4h	0.5041	−8.999%	$6.5M	$13.1M	50x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5050	−8.842%	$3K	$5K	5x	as long as short
Reya JTORUSDPERPlong	0.0000%	1h	0.5539	long leg	—	—	—
Paradex JTO-USD-PERP	+0.0003%	8h	0.5042	−8.982%	$483	$10	5x	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−10.226%	$31	$43K	5.5x	as long as short
Lighter JTO	+0.0096%	1h	0.5047	−8.887%	$112K	$205K	10x	as long as short
Hyperliquid JTOshort	+0.0100%	1h	0.5049	−8.858%	$6.8M	$2.8M	5x
Aster JTOUSDT	+0.0100%	4h	0.5047	−8.890%	$116K	$204K	10x	as long as short

Show all 26 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance JTOUSDT	+0.0100%	4h	0.5039	−9.035%	$10.5M	$25.7M	75x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5039	−9.035%	$3.7M	$9.1M	50x	as long as short
Gate JTO_USDT	+0.0100%	8h	0.5042	−8.981%	$875K	$852K	75x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5040	−9.017%	$6.0M	$3.0M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5043	−8.962%	$1.4M	$589K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5041	−8.999%	$2.2M	$2.2M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5040	−9.017%	—	$8.3M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5043	−8.959%	$218K	$191K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5042	−8.981%	$4K	$798	10x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5050	−8.836%	$55K	−$0	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5037	−9.065%	$519K	$2.7M	10x	as long as short
Backpack JTO_USDC_PERP	+0.0130%	1h	0.5053	−8.777%	$235K	$338K	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0223% / S −0.2181%	1h	0.5045	−8.935%	$2K	—	50x	as long as short
Phoenix JTO	+0.0316%	1h	0.5057	−8.710%	$357K	$122K	5x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5043	−8.962%	$572K	$518K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0440%	1h	0.5071	−8.457%	$55K	$122K	25x	as long as short