Funding you earn now, next payment 21:00 UTC−0.0363%/8h= −39.8% APRpaid last 24h −0.100%
Price spread now: Bybit against Phoenix−0.233%75s7-day average −0.135% · you buy dearer than you sell
Net, funding: paid 7d − costs−$119as 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−$690.690% of the position
Funding, last 7 days−0.503%−$50 on $10k
+Price spread, last 3 days (all we have)−0.493%−$49 · spread now −0.233%, 7d avg −0.135%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bybit is 0.097% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.135%). Swap the legs. 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 | 0.5158 | 0.0463 | pay 0.0058% / 1h | 50m 11s | $371K | $267K | 5x |
| Short | Bybit JTOUSDT | 0.5146 | 0.0100 | get 0.0050% / 4h | 2h 50m | $7.5M | $13.5M | 50x |
Phoenix JTO
Bybit JTOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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: −0.233% → −0.135%
- −$9.73
- Slippage, 4 orders
- −$51
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$155.05
- Costs to cover
- 0.690%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 36 min ago; Bybit: live order book, 3 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, 36 min ago | 1.93 bp | 20.8 bp −$21 | 68.5 bp −$685 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.97 bp | 13.2 bp −$13 | 58.7 bp −$587 | 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 | −0.0721% | 1h | 0.5143 | −0.291% | $13K | $11K | 10x | as long as short |
| Gate JTO_USDT | −0.0143% | 8h | 0.5141 | −0.330% | $933K | $1.5M | 75x | as long as short |
| OKX JTO-USDT-SWAP | −0.0061% | 4h | 0.5140 | −0.349% | $3.9M | $9.8M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5142 | −0.310% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +7.398% | — | — | — | as long as short |
| Paradex JTO-USD-PERP | +0.0011% | 8h | 0.5136 | −0.423% | $513 | — | 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 | 0.5147 | −0.219% | $99K | $184K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5151 | −0.132% | $7.3M | $3.2M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5148 | −0.201% | $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 JTOUSDT | +0.0100% | 4h | 0.5141 | −0.325% | $11.6M | $27.9M | 75x | as long as short |
| Bybit JTOUSDTshort | +0.0100% | 4h | 0.5146 | −0.233% | $7.5M | $13.5M | 50x | |
| Bulk JTO-USD | +0.0100% | 1h | 0.5155 | −0.058% | $56K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5141 | −0.330% | $7.1M | $3.7M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5149 | −0.178% | $1.6M | $572K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5144 | −0.271% | $2.5M | $2.4M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5143 | −0.291% | — | $63.5M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5146 | −0.242% | $183K | $259K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5143 | −0.291% | $4K | $2K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5141 | −0.329% | $523K | $854K | 10x | as long as short |
| Backpack JTO_USDC_PERP | +0.0139% | 1h | 0.5148 | −0.198% | $263K | $526K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0223% / S −0.2181% | 1h | 0.5147 | −0.212% | $2K | — | 50x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0320% | 1h | 0.5202 | +0.853% | $57K | $126K | 25x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5142 | −0.310% | $641K | $575K | 75x | as long as short |
| Phoenix JTOlong | +0.0463% | 1h | 0.5158 | long leg | $371K | $267K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0610% | 1h | 0.5154 | −0.078% | $351K | $313K | 25x | as long as short |
Binance JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
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