JTO arbitrage explained
Right now Jito (JTO) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.5466 and the highest bid on OKX spot at $0.5478.
The widest JTO perpetual spread is between Variational and KuCoin: long JTO on Variational at $0.5466 and short on KuCoin at $0.5477 for +0.20% gross, or +0.04% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.003% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best JTO route is to buy spot on Bybit and short the perpetual on KuCoin: -0.02% gross, -0.22% net, with +0.030% a day of funding on the short leg.
Spot–spot JTO arbitrage (buy on Bybit, withdraw, deposit and sell on Binance) shows 0.00% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small JTO gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: JTO funding rates · JTO spread charts · Jito price · arbitrage scanner for all coins.