Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0391%/8h= +42.9% APRpaid last 24h +0.120%

Price spread now: Phoenix against Paradex−0.085%46s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.085% cheaper against Paradex than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 17 hours of funding at the current rate (+$12 a day). The two prices were read 46 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	Paradex JTO-USD-PERP	0.5094	0.0076	pay 0.0076% / 8h	1h 22m	$488	$10	5x
Short	Phoenix JTO	0.5090	0.0467	get 0.0058% / 1h	22m 45s	$376K	$118K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Paradex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ParadexbpFee PhoenixbpOrdersPrice spread, now −0.085%Rate

Funding earned: $82.19
Price spread: −0.085% → 0.000%: −$8.51
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $62.68
Costs to cover: 0.110%
Break-even: 1.7 days

Slippage unknown: Paradex: no order-book sample; Phoenix: live order book, 19 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 19 min ago	1.96 bp	21.1 bp −$21	59.8 bp −$598	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0535%	1h	0.5092	−0.046%	$13K	$30K	10x	as long as short
Gate JTO_USDT	−0.0146%	8h	0.5097	+0.052%	$887K	$1.0M	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5095	+0.016%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+8.738%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−2.382%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERPlong	+0.0076%	8h	0.5094	long leg	$488	$10	5x
Bybit JTOUSDT	+0.0081%	4h	0.5095	+0.013%	$6.8M	$14.2M	50x	as long as short
Lighter JTO	+0.0096%	1h	0.5101	+0.135%	$114K	$240K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5104	+0.194%	$6.9M	$3.1M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5097	+0.046%	$119K	$228K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance JTOUSDT	+0.0100%	4h	0.5093	−0.017%	$10.8M	$28.8M	75x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5092	−0.046%	$3.8M	$9.8M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5041	−1.050%	$55K	$2K	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5094	−0.007%	$6.0M	$3.5M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5097	+0.052%	$1.5M	$620K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5096	+0.033%	$2.4M	$2.3M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5095	+0.013%	—	$8.6M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5079	−0.309%	$218K	$240K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5093	−0.026%	$4K	$918	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5092	−0.037%	$511K	$2.2M	10x	as long as short
Backpack JTO_USDC_PERP	+0.0115%	1h	0.5098	+0.066%	$220K	$311K	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5095	+0.009%	$2K	—	50x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5091	−0.065%	$589K	$537K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0456%	1h	0.5111	+0.327%	$58K	$139K	25x	as long as short
Phoenix JTOshort	+0.0467%	1h	0.5090	−0.085%	$376K	$118K	5x
Kraken Futures PF_JTOUSD	+0.0846%	1h	0.5101	+0.136%	$323K	$374K	25x	as long as short