Funding arb · Price arb /

JTO

all JTO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.132%

Price spread now: Backpack against Paradex−0.069%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 0.069% cheaper against Paradex than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 13 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex JTO-USD-PERP	0.5159	0.0082	pay 0.0082% / 8h	5h 59m	$515	—	5x
Short	Backpack JTO_USDC_PERP	0.5156	0.0100	get 0.0013% / 1h	59m 24s	$267K	$356K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now −0.069%Rate

Funding earned: $3.78
Price spread: −0.069% → 0.000%: −$6.88
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$17.1
Costs to cover: 0.140%
Break-even: 38.7 days

Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 4 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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 4 min ago	0.10 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit

Paradex: 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 25 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	−0.0332%	1h	0.5150	−0.179%	$13K	$10K	10x	as long as short
Gate JTO_USDT	−0.0210%	8h	0.5160	+0.014%	$908K	$992K	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5162	+0.053%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5539	+7.368%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.610%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERPlong	+0.0082%	8h	0.5159	long leg	$515	—	5x
OKX JTO-USDT-SWAP	+0.0094%	4h	0.5155	−0.082%	$3.9M	$9.3M	50x	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0094%	4h	0.5151	−0.160%	$4K	$652	10x	as long as short
Lighter JTO	+0.0096%	1h	0.5164	+0.096%	$118K	$227K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5166	+0.133%	$7.1M	$3.3M	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JTOUSDT	+0.0100%	4h	0.5159	+0.001%	$127K	$219K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5156	−0.054%	$11.3M	$27.2M	75x	as long as short
Bybit JTOUSDT	+0.0100%	4h	0.5160	+0.014%	$7.6M	$13.4M	50x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5156	−0.063%	$6.6M	$3.4M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5159	−0.005%	$1.6M	$570K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5159	−0.005%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5159	−0.005%	—	$68.0M	—	as long as short
Backpack JTO_USDC_PERPshort	+0.0100%	1h	0.5156	−0.069%	$267K	$356K	10x
Variational Omni JTO	+0.0100%	4h	0.5158	−0.022%	$224K	$288K	—	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5136	−0.451%	$56K	$15K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5159	−0.012%	$520K	$1.7M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5153	−0.122%	$2K	—	50x	as long as short
Coinbase International JTO-PERP-INTX	+0.0264%	1h	0.5179	+0.383%	$60K	$135K	25x	as long as short
Phoenix JTO	+0.0466%	1h	0.5163	+0.073%	$381K	$107K	5x	as long as short
Kraken Futures PF_JTOUSD	+0.0769%	1h	0.5158	−0.029%	$347K	$306K	25x	as long as short