Funding you earn now, next payment 04:00 UTC+0.0069%/8h= +7.6% APRnext payment +$0.09 per $10,000 · paid last 24h −0.024%
Price spread now: Kraken Futures against Phoenix−0.034%7-day average −0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs−$134as in the Funding arb table
Net, price: spread back to 7d avg − costs−$140as in the Price arb table
costs, in and out, $10k−$1401.403% of the position
Funding, last 7 days+0.062%+$6 on $10k
+Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.034%, 7d avg −0.040%
=The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix JTO | 0.5157 | 0.0310 | pay 0.0039% / 1h | 0m 53s | $381K | $114K | 5x |
| Short | Kraken Futures PF_JTOUSD | 0.5155 | 0.0379 | get 0.0047% / 1h | 0m 53s | $333K | $313K | 25x |
Phoenix JTO
Kraken Futures PF_JTOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $14.52
- Price spread: −0.034% → −0.040%
- $0.6
- Slippage, 4 orders
- −$123.26
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$125.14
- Costs to cover
- 1.403%
- Break-even
- 67.3 days
Slippage from Phoenix: live order book, 51 min ago; Kraken Futures: live order book, 52 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, 51 min ago | 1.93 bp | 20.8 bp −$21 | 68.3 bp −$683 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 52 min ago | 29.97 bp | 48.6 bp −$49 | 212.1 bp −$2,121 | 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 | −0.0355% | 8h | 0.5152 | −0.097% | $891K | $1.0M | 75x | as long as short |
| Deribit JTO_USDC-PERPETUAL | −0.0332% | 1h | 0.5151 | −0.116% | $13K | $10K | 10x | as long as short |
| Bybit JTOUSDT | −0.0155% | 4h | 0.5153 | −0.078% | $7.0M | $14.0M | 50x | as long as short |
| OKX JTO-USDT-SWAP | −0.0046% | 4h | 0.5149 | −0.155% | $3.9M | $9.4M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5156 | −0.018% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +7.418% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −3.568% | $31 | $43K | 5.5x | as long as short |
| Variational Omni JTO | +0.0092% | 4h | 0.5150 | −0.134% | $221K | $242K | — | as long as short |
| Paradex JTO-USD-PERP | +0.0096% | 8h | 0.5151 | −0.108% | $514 | — | 5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5159 | +0.037% | $117K | $228K | 10x | as long as short |
Gate JTO_USDT
Deribit JTO_USDC-PERPETUAL
Bybit JTOUSDT
OKX JTO-USDT-SWAP
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Variational Omni JTO
Paradex JTO-USD-PERP
Lighter JTOShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid JTO | +0.0100% | 1h | 0.5162 | +0.093% | $7.0M | $3.0M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5154 | −0.051% | $123K | $219K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5150 | −0.136% | $11.2M | $27.6M | 75x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5143 | −0.264% | $56K | $9K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5150 | −0.136% | $6.1M | $3.5M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5153 | −0.081% | $1.5M | $604K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5156 | −0.019% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5150 | −0.136% | — | $27.5M | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5151 | −0.116% | $4K | $652 | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5149 | −0.160% | $518K | $2.2M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5153 | −0.068% | $2K | — | 50x | as long as short |
| Phoenix JTOlong | +0.0310% | 1h | 0.5157 | long leg | $381K | $114K | 5x | |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5146 | −0.213% | $612K | $520K | 75x | as long as short |
| Kraken Futures PF_JTOUSDshort | +0.0379% | 1h | 0.5155 | −0.034% | $333K | $313K | 25x | |
| Coinbase International JTO-PERP-INTX | +0.0440% | 1h | 0.5163 | +0.116% | $58K | $137K | 25x | as long as short |
| Backpack JTO_USDC_PERP | +0.0640% | 1h | 0.5160 | +0.062% | $268K | $311K | 10x | as long as short |
Hyperliquid JTO
Aster JTOUSDT
Binance JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Orderly PERP_JTO_USDC_mythos
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
BloFin JTO-USDT
Coinbase International JTO-PERP-INTX
Backpack JTO_USDC_PERP