Funding you earn now, next payment 04:00 UTC+0.0238%/8h= +26.1% APRpaid last 24h +0.107%
Price spread now: Phoenix against OKX+0.232%76s7-day average +0.211% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as 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−$800.801% of the position
Funding, last 7 days+0.402%+$40 on $10k
+Price spread, last 4 days (all we have)+0.257%+$26 · spread now +0.232%, 7d avg +0.211%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.021% dearer against OKX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.211%. The two prices were read 76 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 | OKX JTO-USDT-SWAP | 0.5167 | 0.0071 | pay 0.0036% / 4h | 3h 46m | $3.9M | $9.4M | 50x |
| Short | Phoenix JTO | 0.5179 | 0.0310 | get 0.0039% / 1h | 46m 16s | $382K | $114K | 5x |
OKX JTO-USDT-SWAP
Phoenix JTOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against OKX. 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
- $50.08
- Price spread: +0.232% → +0.211%
- $2.09
- Slippage, 4 orders
- −$63.06
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$27.89
- Costs to cover
- 0.801%
- Break-even
- 10.9 days
Slippage from OKX: live order book, 2 min ago; Phoenix: live order book, 6 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 OKX live order book, 2 min ago | 1.94 bp | 18.2 bp −$18 | 71.2 bp −$712 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 6 min ago | 1.93 bp | 20.8 bp −$21 | 60.1 bp −$601 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit JTOUSDT | −0.0547% | 4h | 0.5171 | +0.077% | $7.1M | $14.0M | 50x | as long as short |
| Gate JTO_USDT | −0.0377% | 8h | 0.5165 | −0.039% | $901K | $999K | 75x | as long as short |
| Deribit JTO_USDC-PERPETUAL | −0.0137% | 1h | 0.5170 | +0.058% | $13K | $10K | 10x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5166 | −0.017% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +7.212% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −3.755% | $31 | $43K | 5.5x | as long as short |
| OKX JTO-USDT-SWAPlong | +0.0071% | 4h | 0.5167 | long leg | $3.9M | $9.4M | 50x | |
| Paradex JTO-USD-PERP | +0.0085% | 8h | 0.5161 | −0.109% | $515 | — | 5x | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0094% | 4h | 0.5168 | +0.019% | $4K | $652 | 10x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5174 | +0.141% | $119K | $226K | 10x | as long as short |
Bybit JTOUSDT
Gate JTO_USDT
Deribit JTO_USDC-PERPETUAL
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Paradex JTO-USD-PERP
Orderly PERP_JTO_USDC_mythos
Lighter JTOShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid JTO | +0.0100% | 1h | 0.5178 | +0.203% | $7.0M | $3.1M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5169 | +0.032% | $125K | $218K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5170 | +0.058% | $11.3M | $27.5M | 75x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5172 | +0.090% | $56K | $17K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5170 | +0.058% | $6.2M | $3.4M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5169 | +0.039% | $1.5M | $602K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5170 | +0.058% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5169 | +0.039% | — | $67.9M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5174 | +0.128% | $224K | $246K | — | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5169 | +0.029% | $521K | $1.7M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5172 | +0.090% | $2K | — | 50x | as long as short |
| Phoenix JTOshort | +0.0310% | 1h | 0.5179 | +0.232% | $382K | $114K | 5x | |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5161 | −0.116% | $617K | $537K | 75x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0377% | 1h | 0.5177 | +0.191% | $337K | $312K | 25x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0440% | 1h | 0.5182 | +0.290% | $59K | $138K | 25x | as long as short |
| Backpack JTO_USDC_PERP | +0.0685% | 1h | 0.5172 | +0.099% | $267K | $313K | 10x | as long as short |
Hyperliquid JTO
Aster JTOUSDT
Binance JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
BloFin JTO-USDT
Kraken Futures PF_JTOUSD
Coinbase International JTO-PERP-INTX
Backpack JTO_USDC_PERP