Funding you earn now, next payment 05:00 UTC−0.0364%/8h= −39.8% APRpaid last 24h −0.085%
Price spread now: BingX against Phoenix+0.020%94s7-day average −0.163% · you sell dearer than you buy
Net, funding: paid 7d − costs−$112as 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−$760.763% of the position
Funding, last 7 days−0.354%−$35 on $10k
+Price spread, last 4 days (all we have)−0.419%−$42 · spread now +0.020%, 7d avg −0.163%
=The price spread pays, funding is against you. BingX is 0.183% dearer against Phoenix than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.163%): +$18 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 40 hours. At the pace of the last 7 days (−0.354% in total) that is about 3.6 days. The two prices were read 94 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 | 0.5094 | 0.0464 | pay 0.0058% / 1h | 30m 00s | $376K | $118K | 5x |
| Short | BingX JTO-USDT | 0.5095 | 0.0100 | get 0.0050% / 4h | 2h 30m | — | $8.8M | — |
Phoenix JTO
BingX JTO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$76.39
- Price spread: +0.020% → −0.163%
- $18.3
- Slippage, 4 orders
- −$59.31
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$134.41
- Costs to cover
- 0.763%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 17 min ago; BingX: live order book, 8 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, 17 min ago | 1.94 bp | 20.8 bp −$21 | 67.3 bp −$673 | doesn't fit | doesn't fit |
| Sell BingX live order book, 8 min ago | 3.90 bp | 17.6 bp −$18 | 43.7 bp −$437 | 216.9 bp −$21.7K | 472.5 bp −$236.3K |
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 | −0.0338% | 1h | 0.5098 | +0.079% | $3K | $20K | 10x | as long as short |
| Gate JTO_USDT | −0.0290% | 8h | 0.5097 | +0.059% | $898K | $1.0M | 75x | as long as short |
| OKX JTO-USDT-SWAP | −0.0005% | 4h | 0.5096 | +0.039% | $3.8M | $9.4M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5094 | +0.004% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +8.748% | — | — | — | as long as short |
| Bybit JTOUSDT | +0.0003% | 4h | 0.5098 | +0.079% | $6.9M | $14.1M | 50x | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.375% | $31 | $43K | 5.5x | as long as short |
| Paradex JTO-USD-PERP | +0.0082% | 8h | 0.5089 | −0.092% | $488 | $10 | 5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5106 | +0.228% | $114K | $229K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5113 | +0.373% | $7.0M | $3.0M | 5x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
OKX JTO-USDT-SWAP
dYdX JTO-USD
Reya JTORUSDPERP
Bybit JTOUSDT
Injective JTO/USDC PERP
Paradex JTO-USD-PERP
Lighter JTO
Hyperliquid JTOShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster JTOUSDT | +0.0100% | 4h | 0.5099 | +0.089% | $121K | $219K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5097 | +0.068% | $11.1M | $28.0M | 75x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5099 | +0.098% | $6.0M | $3.5M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5103 | +0.185% | $1.5M | $609K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5101 | +0.137% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDTshort | +0.0100% | 4h | 0.5095 | +0.020% | — | $8.8M | — | |
| Variational Omni JTO | +0.0100% | 4h | 0.5079 | −0.290% | $218K | $242K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5097 | +0.059% | $3K | $652 | 10x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5084 | −0.196% | $55K | $2K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5100 | +0.112% | $512K | $2.2M | 10x | as long as short |
| Backpack JTO_USDC_PERP | +0.0128% | 1h | 0.5108 | +0.273% | $266K | $308K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5102 | +0.154% | $2K | — | 50x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5082 | −0.236% | $607K | $527K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0440% | 1h | 0.5114 | +0.393% | $58K | $134K | 25x | as long as short |
| Phoenix JTOlong | +0.0464% | 1h | 0.5094 | long leg | $376K | $118K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0485% | 1h | 0.5108 | +0.268% | $328K | $329K | 25x | as long as short |
Aster JTOUSDT
Binance JTOUSDT
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Bulk JTO-USD
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