Funding you earn now, next payment 21:00 UTC−0.0363%/8h= −39.8% APRpaid last 24h −0.079%
Price spread now: Binance against Phoenix−0.130%75s7-day average −0.189% · you buy dearer than you sell
Net, funding: paid 7d − costs−$106as 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−$690.688% of the position
Funding, last 7 days−0.370%−$37 on $10k
+Price spread, last 3 days (all we have)−0.453%−$45 · spread now −0.130%, 7d avg −0.189%
=The price spread pays, funding is against you. Binance is 0.059% dearer against Phoenix than usual: you sell high and buy low (spread −0.130% now, against its 7-day average of −0.189%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.370% in total) that is about 27 hours. The two prices were read 75 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 | Phoenix JTO | 0.5153 | 0.0463 | pay 0.0058% / 1h | 44m 11s | $371K | $267K | 5x |
| Short | Binance JTOUSDT | 0.5146 | 0.0100 | get 0.0050% / 4h | 2h 44m | $11.5M | $27.9M | 75x |
Phoenix JTO
Binance JTOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- −$76.32
- Price spread: −0.130% → −0.189%
- $5.89
- Slippage, 4 orders
- −$51.85
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$139.28
- Costs to cover
- 0.688%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 42 min ago; Binance: live order book, 12 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 Phoenix live order book, 42 min ago | 1.93 bp | 20.8 bp −$21 | 68.5 bp −$685 | doesn't fit | doesn't fit |
| Sell Binance live order book, 12 min ago | 0.97 bp | 14.9 bp −$15 | 37.3 bp −$373 | 236.6 bp −$23.7K | 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 | −0.0914% | 1h | 0.5147 | −0.116% | $13K | $11K | 10x | as long as short |
| Gate JTO_USDT | −0.0138% | 8h | 0.5149 | −0.078% | $934K | $1.5M | 75x | as long as short |
| OKX JTO-USDT-SWAP | −0.0070% | 4h | 0.5146 | −0.136% | $3.9M | $9.8M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5154 | +0.019% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +7.499% | — | — | — | as long as short |
| Paradex JTO-USD-PERP | +0.0014% | 8h | 0.5148 | −0.088% | $514 | — | 5x | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −3.493% | $31 | $43K | 5.5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5154 | +0.016% | $99K | $184K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5160 | +0.130% | $7.3M | $3.2M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5153 | +0.007% | $173K | $175K | 10x | 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
Hyperliquid JTO
Aster JTOUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance JTOUSDTshort | +0.0100% | 4h | 0.5146 | −0.130% | $11.5M | $27.9M | 75x | |
| Bybit JTOUSDT | +0.0100% | 4h | 0.5152 | −0.019% | $7.5M | $13.5M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5155 | +0.039% | $56K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5149 | −0.078% | $7.1M | $3.7M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5155 | +0.035% | $1.6M | $571K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5149 | −0.078% | $2.5M | $2.4M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5150 | −0.058% | — | $63.6M | — | as long as short |
| Backpack JTO_USDC_PERP | +0.0100% | 1h | 0.5157 | +0.068% | $263K | $513K | 10x | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5151 | −0.048% | $183K | $259K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5148 | −0.097% | $4K | $2K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5146 | −0.131% | $523K | $854K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5153 | −0.006% | $2K | — | 50x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0320% | 1h | 0.5202 | +0.951% | $57K | $126K | 25x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5148 | −0.097% | $645K | $574K | 75x | as long as short |
| Phoenix JTOlong | +0.0463% | 1h | 0.5153 | long leg | $371K | $267K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0610% | 1h | 0.5157 | +0.082% | $351K | $312K | 25x | as long as short |
Bybit JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Backpack JTO_USDC_PERP
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
Coinbase International JTO-PERP-INTX
BloFin JTO-USDT
Kraken Futures PF_JTOUSD