Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0341%/8h= −37.4% APRpaid last 24h −0.136%

Price spread now: Deribit against Bybit+0.039%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.039% dearer against Bybit than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit JTOUSDT	0.5096	0.0003	pay 0.0002% / 4h	2h 30m	$6.9M	$14.1M	50x
Short	Deribit JTO_USDC-PERPETUAL	0.5098	−0.0338	pay 0.0042% / 1h	30m 21s	$3K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$71.71
Price spread: +0.039% → 0.000%: $3.92
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$85.79
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Deribit: 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, 3 min ago	3.93 bp	24.7 bp −$25	96.7 bp −$967	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	−0.0338%	1h	0.5098	+0.039%	$3K	$20K	10x
Gate JTO_USDT	−0.0290%	8h	0.5092	−0.078%	$897K	$1.0M	75x	as long as short
OKX JTO-USDT-SWAP	−0.0005%	4h	0.5098	+0.039%	$3.8M	$9.4M	50x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5094	−0.036%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+8.706%	—	—	—	as long as short
Bybit JTOUSDTlong	+0.0003%	4h	0.5096	long leg	$6.9M	$14.1M	50x
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−2.414%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERP	+0.0082%	8h	0.5089	−0.131%	$488	$10	5x	as long as short
Lighter JTO	+0.0096%	1h	0.5106	+0.188%	$114K	$229K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5110	+0.271%	$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	0.5098	+0.032%	$121K	$219K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5098	+0.039%	$11.1M	$28.0M	75x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5096	0.000%	$6.0M	$3.5M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5095	−0.020%	$1.5M	$609K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5098	+0.039%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5095	−0.020%	—	$8.8M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5079	−0.329%	$218K	$242K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5097	+0.020%	$3K	$652	10x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5084	−0.235%	$55K	$2K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5094	−0.037%	$512K	$2.2M	10x	as long as short
Backpack JTO_USDC_PERP	+0.0155%	1h	0.5089	−0.139%	$265K	$309K	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5102	+0.115%	$2K	—	50x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5082	−0.275%	$607K	$527K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0440%	1h	0.5114	+0.353%	$58K	$134K	25x	as long as short
Phoenix JTO	+0.0464%	1h	0.5094	−0.039%	$376K	$118K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0485%	1h	0.5108	+0.228%	$328K	$329K	25x	as long as short