Funding you earn now, next payment 02:00 UTC+0.0364%/8h= +39.9% APRnext payment +$0.46 per $10,000 · paid last 24h +0.065%
Price spread now: Phoenix against Hyperliquid+0.144%61s7-day average −0.020% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.261%+$26 on $10k
+Price spread, last 4 days (all we have)+0.329%+$33 · spread now +0.144%, 7d avg −0.020%
=Together, before fees+0.591%+ Points / potential airdropHyperliquid: Season 2 · farm board+$59 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.164% dearer against Hyperliquid than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.020%. The two prices were read 61 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 | Hyperliquid JTO | 0.5191 | 0.0100 | pay 0.0013% / 1h | 18m 30s | $7.1M | $3.3M | 5x |
| Short | Phoenix JTO | 0.5198 | 0.0464 | get 0.0058% / 1h | 18m 30s | $384K | $110K | 5x |
Hyperliquid JTO
Phoenix JTOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Hyperliquid. 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
- $76.5
- Price spread: +0.144% → −0.020%
- $16.44
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $76.94
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 4 min ago; Phoenix: live order book, 43 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 Hyperliquid live order book, 4 min ago | 1.06 bp | 16.7 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 43 min ago | 1.93 bp | 20.8 bp −$21 | 60.3 bp −$603 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate JTO_USDT | −0.0354% | 8h | 0.5184 | −0.125% | $904K | $1.0M | 75x | as long as short |
| Deribit JTO_USDC-PERPETUAL | −0.0328% | 1h | 0.5184 | −0.125% | $13K | $10K | 10x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5184 | −0.125% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +6.723% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −4.190% | $31 | $43K | 5.5x | as long as short |
| Paradex JTO-USD-PERP | +0.0083% | 8h | 0.5183 | −0.143% | $517 | — | 5x | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0094% | 4h | 0.5184 | −0.125% | $4K | $652 | 10x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5192 | +0.031% | $119K | $228K | 10x | as long as short |
| Hyperliquid JTOlong | +0.0100% | 1h | 0.5191 | long leg | $7.1M | $3.3M | 5x | |
| Aster JTOUSDT | +0.0100% | 4h | 0.5186 | −0.089% | $127K | $219K | 10x | as long as short |
Gate JTO_USDT
Deribit JTO_USDC-PERPETUAL
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Paradex JTO-USD-PERP
Orderly PERP_JTO_USDC_mythos
Lighter JTO
Aster JTOUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance JTOUSDT | +0.0100% | 4h | 0.5183 | −0.144% | $11.4M | $27.2M | 75x | as long as short |
| Bybit JTOUSDT | +0.0100% | 4h | 0.5185 | −0.106% | $7.3M | $13.8M | 50x | as long as short |
| OKX JTO-USDT-SWAP | +0.0100% | 4h | 0.5182 | −0.164% | $3.9M | $9.3M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5157 | −0.643% | $56K | $15K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5184 | −0.125% | $6.7M | $3.5M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5189 | −0.029% | $1.6M | $586K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5183 | −0.144% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5184 | −0.125% | — | $68.0M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5191 | +0.001% | $225K | $288K | — | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5182 | −0.171% | $520K | $1.7M | 10x | as long as short |
| Backpack JTO_USDC_PERP | +0.0131% | 1h | 0.5191 | +0.006% | $268K | $326K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5187 | −0.076% | $2K | — | 50x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0336% | 1h | 0.5197 | +0.125% | $60K | $135K | 25x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5184 | −0.125% | $620K | $508K | 75x | as long as short |
| Phoenix JTOshort | +0.0464% | 1h | 0.5198 | +0.144% | $384K | $110K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0671% | 1h | 0.5190 | −0.012% | $345K | $310K | 25x | as long as short |
Binance JTOUSDT
Bybit JTOUSDT
OKX JTO-USDT-SWAP
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Extended JTO-USD
Backpack JTO_USDC_PERP
GMX JTO/USD [WBTC.b-USDC]
Coinbase International JTO-PERP-INTX
BloFin JTO-USDT
Kraken Futures PF_JTOUSD