Funding you earn now, next payment 21:00 UTC−0.0555%/8h= −60.8% APRpaid last 24h −0.091%
Price spread now: OKX against Phoenix−0.155%46s7-day average −0.211% · you buy dearer than you sell
Net, funding: paid 7d − costs−$114as 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−$760.757% of the position
Funding, last 7 days−0.387%−$39 on $10k
+Price spread, last 3 days (all we have)−0.410%−$41 · spread now −0.155%, 7d avg −0.211%
=The price spread pays, funding is against you. OKX is 0.057% dearer against Phoenix than usual: you sell high and buy low (spread −0.155% now, against its 7-day average of −0.211%): +$6 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.387% in total) that is about 25 hours. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.387% in total (about -20.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix JTO | 0.5177 | 0.0463 | pay 0.0058% / 1h | 26m 38s | $372K | $267K | 5x |
| Short | OKX JTO-USDT-SWAP | 0.5169 | −0.0092 | pay 0.0046% / 4h | 2h 26m | $3.9M | $9.9M | 50x |
Phoenix JTO
OKX JTO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$116.65
- Price spread: −0.155% → −0.211%
- $5.68
- Slippage, 4 orders
- −$58.7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$186.67
- Costs to cover
- 0.757%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 59 min ago; OKX: live order book, 2 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, 59 min ago | 1.93 bp | 20.8 bp −$21 | 68.5 bp −$685 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 0.97 bp | 15.7 bp −$16 | 54.6 bp −$546 | 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 | −0.0717% | 1h | 0.5168 | −0.174% | $13K | $11K | 10x | as long as short |
| Gate JTO_USDT | −0.0161% | 8h | 0.5167 | −0.193% | $936K | $1.5M | 75x | as long as short |
| OKX JTO-USDT-SWAPshort | −0.0092% | 4h | 0.5169 | −0.155% | $3.9M | $9.9M | 50x | |
| dYdX JTO-USD | 0.0000% | 1h | 0.5172 | −0.101% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +7.001% | — | — | — | as long as short |
| Paradex JTO-USD-PERP | +0.0004% | 8h | 0.5169 | −0.159% | $516 | — | 5x | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −3.941% | $31 | $43K | 5.5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5174 | −0.048% | $100K | $184K | 10x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5170 | −0.138% | $174K | $175K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5169 | −0.155% | $11.6M | $27.9M | 75x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
dYdX JTO-USD
Reya JTORUSDPERP
Paradex JTO-USD-PERP
Injective JTO/USDC PERP
Lighter JTO
Aster JTOUSDT
Binance JTOUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit JTOUSDT | +0.0100% | 4h | 0.5172 | −0.097% | $7.5M | $13.6M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5165 | −0.232% | $56K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5167 | −0.193% | $7.1M | $3.7M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5174 | −0.058% | $1.6M | $571K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5170 | −0.135% | $2.6M | $2.4M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5172 | −0.097% | — | $63.5M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5179 | +0.034% | $183K | $259K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5167 | −0.193% | $4K | $2K | 10x | as long as short |
| Hyperliquid JTO | +0.0103% | 1h | 0.5176 | −0.014% | $7.3M | $3.2M | 5x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5168 | −0.165% | $523K | $854K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5171 | −0.109% | $2K | — | 50x | as long as short |
| Backpack JTO_USDC_PERP | +0.0237% | 1h | 0.5173 | −0.068% | $263K | $503K | 10x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0320% | 1h | 0.5186 | +0.174% | $57K | $126K | 25x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5166 | −0.212% | $640K | $576K | 75x | as long as short |
| Phoenix JTOlong | +0.0463% | 1h | 0.5177 | long leg | $372K | $267K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0608% | 1h | 0.5174 | −0.052% | $352K | $312K | 25x | as long as short |
Bybit JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Hyperliquid JTO
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
Backpack JTO_USDC_PERP
Coinbase International JTO-PERP-INTX
BloFin JTO-USDT
Kraken Futures PF_JTOUSD