Funding you earn now, next payment 20:00 UTC+0.0211%/8h= +23.1% APRpaid last 24h +0.083%
Price spread now: Phoenix against Bitget+0.388%69s7-day average +0.113% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$770.771% of the position
Funding, last 7 days+0.369%+$37 on $10k
+Price spread, last 3 days (all we have)+0.271%+$27 · spread now +0.388%, 7d avg +0.113%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.274% dearer against Bitget than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.113%. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget JTOUSDT | 0.5158 | 0.0100 | pay 0.0050% / 4h | 2h 58m | $2.5M | $2.4M | 50x |
| Short | Phoenix JTO | 0.5178 | 0.0311 | get 0.0039% / 1h | 58m 15s | $372K | $266K | 5x |
Bitget JTOUSDT
Phoenix JTOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bitget. 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
- $44.28
- Price spread: +0.388% → +0.113%
- $27.44
- Slippage, 4 orders
- −$58.14
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$5.42
- Costs to cover
- 0.771%
- Break-even
- 7.9 days
Slippage from Bitget: live order book, 4 min ago; Phoenix: live order book, 28 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 Bitget live order book, 4 min ago | 0.97 bp | 16.6 bp −$17 | 58.4 bp −$584 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 28 min ago | 1.93 bp | 20.8 bp −$21 | 60.2 bp −$602 | 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 | −0.0525% | 1h | 0.5156 | −0.039% | $23K | $460 | 10x | as long as short |
| Gate JTO_USDT | −0.0136% | 8h | 0.5159 | +0.019% | $937K | $1.5M | 75x | as long as short |
| OKX JTO-USDT-SWAP | −0.0045% | 4h | 0.5154 | −0.078% | $3.9M | $9.9M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5168 | +0.194% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +7.400% | — | — | — | as long as short |
| Paradex JTO-USD-PERP | +0.0018% | 8h | 0.5161 | +0.062% | $515 | — | 5x | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −3.587% | $31 | $43K | 5.5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5161 | +0.068% | $99K | $183K | 10x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5165 | +0.138% | $173K | $175K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5150 | −0.155% | $11.6M | $28.0M | 75x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
OKX JTO-USDT-SWAP
dYdX JTO-USD
Reya JTORUSDPERP
Paradex JTO-USD-PERP
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 | 0.5158 | 0.000% | $7.6M | $13.5M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5167 | +0.174% | $56K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5159 | +0.019% | $7.1M | $3.7M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5169 | +0.219% | $1.6M | $573K | 20x | as long as short |
| Bitget JTOUSDTlong | +0.0100% | 4h | 0.5158 | long leg | $2.5M | $2.4M | 50x | |
| BingX JTO-USDT | +0.0100% | 4h | 0.5161 | +0.058% | — | $63.6M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5179 | +0.399% | $183K | $261K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5156 | −0.039% | $4K | $2K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5156 | −0.046% | $523K | $854K | 10x | as long as short |
| Hyperliquid JTO | +0.0135% | 1h | 0.5170 | +0.235% | $7.3M | $3.2M | 5x | as long as short |
| Backpack JTO_USDC_PERP | +0.0192% | 1h | 0.5168 | +0.192% | $264K | $533K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0223% / S −0.2181% | 1h | 0.5160 | +0.039% | $2K | — | 50x | as long as short |
| Phoenix JTOshort | +0.0311% | 1h | 0.5178 | +0.388% | $372K | $266K | 5x | |
| Coinbase International JTO-PERP-INTX | +0.0320% | 1h | 0.5202 | +0.853% | $57K | $128K | 25x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5162 | +0.078% | $641K | $557K | 75x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0609% | 1h | 0.5165 | +0.141% | $352K | $330K | 25x | as long as short |
Bybit JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Extended JTO-USD
Hyperliquid JTO
Backpack JTO_USDC_PERP
GMX JTO/USD [WBTC.b-USDC]
Coinbase International JTO-PERP-INTX
BloFin JTO-USDT
Kraken Futures PF_JTOUSD