Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0369%/8h= +40.4% APRpaid last 24h +0.088%

Price spread now: Phoenix against MEXC−0.193%7-day average +0.185% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.381%+$38 on $10k

Price spread, last 4 days (all we have)+0.766%+$77 · spread now −0.193%, 7d avg +0.185%

Together, before fees+1.147%+$115 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.378% cheaper against MEXC than usual: you would sell low and buy high (spread −0.193% now, against its 7-day average of +0.185%). If the spread goes back, that is −$38 on $10k: about 3.4 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.381% in total) that is about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC JTO_USDT	0.5177	0.0100	pay 0.0050% / 4h	3h 55m	$6.3M	$3.4M	50x
Short	Phoenix JTO	0.5167	0.0469	get 0.0059% / 1h	55m 04s	$381K	$114K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against MEXC. 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 MEXCbpFee PhoenixbpOrdersPrice spread, now −0.193%Rate

Funding earned: $77.57
Price spread: −0.193% → +0.185%: −$37.82
Slippage, 4 orders: −$42.07
Fee MEXC: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$9.32
Costs to cover: 0.491%
Break-even: 7.8 days

Slippage from MEXC: live order book, 3 min ago; Phoenix: live order book, 62 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 MEXC live order book, 3 min ago	0.97 bp	4.8 bp −$5	16.2 bp −$162	70.9 bp −$7,090	173.1 bp −$86.5K
Sell Phoenix live order book, 62 min ago	1.94 bp	20.8 bp −$21	59.5 bp −$595	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	−0.0342%	8h	0.5176	−0.019%	$901K	$998K	75x	as long as short
Deribit JTO_USDC-PERPETUAL	−0.0329%	1h	0.5174	−0.058%	$13K	$10K	10x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5160	−0.326%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+7.004%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.941%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERP	+0.0085%	8h	0.5158	−0.372%	$515	—	5x	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0094%	4h	0.5173	−0.077%	$4K	$652	10x	as long as short
Lighter JTO	+0.0096%	1h	0.5182	+0.106%	$118K	$226K	10x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5176	−0.019%	$3.9M	$9.4M	50x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5188	+0.205%	$7.0M	$3.0M	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JTOUSDT	+0.0100%	4h	0.5173	−0.069%	$125K	$218K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5177	+0.001%	$11.3M	$27.6M	75x	as long as short
Bybit JTOUSDT	+0.0100%	4h	0.5178	+0.019%	$7.1M	$14.0M	50x	as long as short
MEXC JTO_USDTlong	+0.0100%	4h	0.5177	long leg	$6.3M	$3.4M	50x
KuCoin JTOUSDTM	+0.0100%	4h	0.5181	+0.075%	$1.6M	$603K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5180	+0.058%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5177	0.000%	—	$68.0M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5154	−0.452%	$223K	$246K	—	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5141	−0.695%	$56K	$17K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5176	−0.024%	$521K	$1.7M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5175	−0.039%	$2K	—	50x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5167	−0.193%	$619K	$537K	75x	as long as short
Kraken Futures PF_JTOUSD	+0.0377%	1h	0.5179	+0.032%	$337K	$312K	25x	as long as short
Coinbase International JTO-PERP-INTX	+0.0440%	1h	0.5177	0.000%	$59K	$137K	25x	as long as short
Phoenix JTOshort	+0.0469%	1h	0.5167	−0.193%	$381K	$114K	5x
Backpack JTO_USDC_PERP	+0.0709%	1h	0.5186	+0.180%	$267K	$315K	10x	as long as short