Funding you earn now, next payment 22:00 UTC+0.0428%/8h= +46.9% APRpaid last 24h +0.107%
Price spread now: Backpack against OKX+0.137%7-day average +0.168% · you sell dearer than you buy
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$620.619% of the position
Funding, last 7 days+0.186%+$19 on $10k
+Price spread, last 4 days (all we have)−0.294%−$29 · spread now +0.137%, 7d avg +0.168%
=Funding pays, the price is against you. Backpack is 0.032% cheaper against OKX than usual: you would sell low and buy high (spread +0.137% now, against its 7-day average of +0.168%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.186% in total) that is about 28 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.186% in total (about 9.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX JTO-USDT-SWAP | 0.5186 | −0.0070 | get 0.0035% / 4h | 2h 14m | $3.9M | $9.9M | 50x |
| Short | Backpack JTO_USDC_PERP | 0.5193 | 0.0359 | get 0.0045% / 1h | 14m 09s | $264K | $501K | 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
- $89.92
- Price spread: +0.137% → +0.168%
- −$3.15
- Slippage, 4 orders
- −$41.88
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $24.89
- Costs to cover
- 0.619%
- Break-even
- 5.1 days
Slippage from OKX: live order book, 4 min ago; Backpack: live order book, 10 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, 4 min ago | 0.96 bp | 16.9 bp −$17 | 62.8 bp −$628 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 10 min ago | 0.10 bp | 12.1 bp −$12 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit JTO_USDC-PERPETUAL | −0.1098% | 1h | 0.5187 | +0.019% | $13K | $11K | 10x | as long as short |
| Gate JTO_USDT | −0.0163% | 8h | 0.5186 | 0.000% | $940K | $1.5M | 75x | as long as short |
| OKX JTO-USDT-SWAPlong | −0.0070% | 4h | 0.5186 | long leg | $3.9M | $9.9M | 50x | |
| Paradex JTO-USD-PERP | −0.0001% | 8h | 0.5184 | −0.045% | $517 | — | 5x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5188 | +0.032% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +6.816% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −4.107% | $31 | $43K | 5.5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5192 | +0.120% | $100K | $184K | 10x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5192 | +0.116% | $174K | $176K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5185 | −0.017% | $11.6M | $27.9M | 75x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
Paradex JTO-USD-PERP
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC 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 | 0.5192 | +0.116% | $7.6M | $13.6M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5185 | −0.029% | $56K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5185 | −0.019% | $7.1M | $3.7M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5191 | +0.093% | $1.5M | $610K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5187 | +0.019% | $2.6M | $2.4M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5186 | 0.000% | — | $63.5M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5191 | +0.102% | $184K | $259K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5187 | +0.019% | $4K | $2K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5185 | −0.019% | $526K | $854K | 10x | as long as short |
| Hyperliquid JTO | +0.0118% | 1h | 0.5198 | +0.235% | $7.3M | $3.2M | 5x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5193 | +0.127% | $2K | — | 50x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0320% | 1h | 0.5193 | +0.135% | $57K | $125K | 25x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5186 | 0.000% | $640K | $578K | 75x | as long as short |
| Backpack JTO_USDC_PERPshort | +0.0359% | 1h | 0.5193 | +0.137% | $264K | $501K | 10x | |
| Phoenix JTO | +0.0463% | 1h | 0.5198 | +0.231% | $374K | $267K | 5x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0606% | 1h | 0.5193 | +0.130% | $354K | $312K | 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]
Coinbase International JTO-PERP-INTX
BloFin JTO-USDT
Phoenix JTO
Kraken Futures PF_JTOUSD