Funding you earn now, next payment 05:00 UTC−0.0368%/8h= −40.3% APRnext payment −$0.46 per $10,000 · paid last 24h −0.087%
Price spread now: Lighter against Phoenix+1.068%74s7-day average −0.059% · you sell dearer than you buy
Net, funding: paid 7d − costs−$132as 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−$960.955% of the position
Funding, last 7 days−0.367%−$37 on $10k
+Price spread, last 4 days (all we have)−1.401%−$140 · spread now +1.068%, 7d avg −0.059%
=Together, before fees−1.768%+ Points / potential airdropLighter: Season 3 · farm board−$177 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 1.127% dearer against Phoenix than usual: you sell high and buy low (spread +1.068% now, against its 7-day average of −0.059%): +$113 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 7 days (−0.367% in total) that is about 21 days. The two prices were read 74 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 | 0.5095 | 0.0464 | pay 0.0058% / 1h | 19m 58s | $376K | $118K | 5x |
| Short | Lighter JTO | 0.5149 | 0.0096 | get 0.0012% / 1h | 19m 58s | $115K | $229K | 10x |
Phoenix JTO
Lighter JTOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$77.23
- Price spread: +1.068% → −0.059%
- $112.67
- Slippage, 4 orders
- −$88.54
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$60.1
- Costs to cover
- 0.955%
- Break-even
- from the start
Slippage from Phoenix: live order book, 27 min ago; Lighter: live order book, 10 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, 27 min ago | 1.94 bp | 20.8 bp −$21 | 67.3 bp −$673 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 10 min ago | 9.30 bp | 27.1 bp −$27 | 58.8 bp −$588 | 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 | −0.0333% | 1h | 0.5142 | +0.922% | $3K | $20K | 10x | as long as short |
| Gate JTO_USDT | −0.0258% | 8h | 0.5143 | +0.942% | $903K | $1.0M | 75x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5152 | +1.120% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +8.727% | — | — | — | as long as short |
| OKX JTO-USDT-SWAP | +0.0011% | 4h | 0.5144 | +0.962% | $3.8M | $9.6M | 50x | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.395% | $31 | $43K | 5.5x | as long as short |
| Bybit JTOUSDT | +0.0051% | 4h | 0.5145 | +0.981% | $7.0M | $14.2M | 50x | as long as short |
| Paradex JTO-USD-PERP | +0.0076% | 8h | 0.5149 | +1.051% | $493 | $10 | 5x | as long as short |
| Lighter JTOshort | +0.0096% | 1h | 0.5149 | +1.068% | $115K | $229K | 10x | |
| Hyperliquid JTO | +0.0100% | 1h | 0.5154 | +1.164% | $7.0M | $3.0M | 5x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
dYdX JTO-USD
Reya JTORUSDPERP
OKX JTO-USDT-SWAP
Injective JTO/USDC PERP
Bybit JTOUSDT
Paradex JTO-USD-PERP
Hyperliquid JTOShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster JTOUSDT | +0.0100% | 4h | 0.5147 | +1.026% | $122K | $219K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5145 | +0.981% | $11.1M | $28.0M | 75x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5122 | +0.540% | $55K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5144 | +0.962% | $6.0M | $3.6M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5149 | +1.056% | $1.5M | $611K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5147 | +1.021% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5145 | +0.981% | — | $8.8M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5142 | +0.924% | $220K | $241K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5143 | +0.942% | $4K | $652 | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5143 | +0.934% | $518K | $2.2M | 10x | as long as short |
| Backpack JTO_USDC_PERP | +0.0114% | 1h | 0.5153 | +1.136% | $266K | $307K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5147 | +1.015% | $2K | — | 50x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5148 | +1.040% | $600K | $544K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0440% | 1h | 0.5161 | +1.295% | $58K | $136K | 25x | as long as short |
| Phoenix JTOlong | +0.0464% | 1h | 0.5095 | long leg | $376K | $118K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0481% | 1h | 0.5152 | +1.126% | $344K | $349K | 25x | as long as short |
Aster JTOUSDT
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]
BloFin JTO-USDT
Coinbase International JTO-PERP-INTX
Kraken Futures PF_JTOUSD