Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h —

Price spread now: Variational Omni against Reya−6.313%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 6.313% cheaper against Reya than usual: you would sell low and buy high (spread −6.313% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$631 on $10k: about 7 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	25m 36s	—	—	—
Short	Variational Omni JTO	0.5190	0.0100	get 0.0050% / 4h	3h 25m	$227K	$300K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −6.313%Rate

Funding earned: $21
Price spread: −6.313% → 0.000%: −$631.34
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$616.34
Costs to cover: 0.060%
Break-even: 212.4 days

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 48 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 Variational Omni RFQ quote, 48 min ago	5.88 bp	doesn't fit	52.9 bp −$529	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 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	−0.0327%	1h	0.5195	−6.217%	$13K	$10K	10x	as long as short
OKX JTO-USDT-SWAP	−0.0066%	4h	0.5193	−6.253%	$3.9M	$9.4M	50x	as long as short
Gate JTO_USDT	−0.0010%	8h	0.5196	−6.199%	$921K	$1.2M	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5199	−6.141%	$4K	$4K	5x	as long as short
Reya JTORUSDPERPlong	0.0000%	1h	0.5539	long leg	—	—	—
Paradex JTO-USD-PERP	+0.0017%	8h	0.5193	−6.245%	$518	—	5x	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−10.224%	$31	$43K	5.5x	as long as short
Lighter JTO	+0.0096%	1h	0.5199	−6.139%	$100K	$189K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5205	−6.039%	$7.1M	$3.1M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5200	−6.127%	$175K	$177K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance JTOUSDT	+0.0100%	4h	0.5197	−6.178%	$11.5M	$27.8M	75x	as long as short
Bybit JTOUSDT	+0.0100%	4h	0.5199	−6.144%	$7.6M	$13.4M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5161	−6.830%	$56K	−$0	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5197	−6.181%	$7.1M	$3.6M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5203	−6.079%	$1.6M	$599K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5199	−6.144%	$2.6M	$2.4M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5195	−6.217%	—	$67.9M	—	as long as short
Variational Omni JTOshort	+0.0100%	4h	0.5190	−6.313%	$227K	$300K	—
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5192	−6.271%	$4K	$2K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5194	−6.230%	$521K	$2.0M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5191	−6.290%	$2K	—	50x	as long as short
Kraken Futures PF_JTOUSD	+0.0245%	1h	0.5201	−6.101%	$351K	$311K	25x	as long as short
Phoenix JTO	+0.0312%	1h	0.5173	−6.614%	$382K	$262K	5x	as long as short
Coinbase International JTO-PERP-INTX	+0.0320%	1h	0.5192	−6.271%	$64K	$129K	25x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5185	−6.397%	$624K	$597K	75x	as long as short
Backpack JTO_USDC_PERP	+0.0431%	1h	0.5201	−6.110%	$225K	$464K	10x	as long as short