Funding you earn now, next payment 23:00 UTC+0.0365%/8h= +39.9% APRpaid last 24h +0.085%
Price spread now: Phoenix against Binance+0.028%7-day average +0.188% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$640.641% of the position
Funding, last 7 days+0.373%+$37 on $10k
+Price spread, last 3 days (all we have)+0.392%+$39 · spread now +0.028%, 7d avg +0.188%
=Funding pays, the price is against you. Phoenix is 0.160% cheaper against Binance than usual: you would sell low and buy high (spread +0.028% now, against its 7-day average of +0.188%). If the spread goes back, that is −$16 on $10k: about 35 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.373% in total) that is about 3.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance JTOUSDT | 0.5122 | 0.0100 | pay 0.0050% / 4h | 3h 54m | $11.3M | $28.1M | 75x |
| Short | Phoenix JTO | 0.5123 | 0.0465 | get 0.0058% / 1h | 54m 45s | $368K | $262K | 5x |
Funding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- $76.56
- Price spread: +0.028% → +0.188%
- −$16.01
- Slippage, 4 orders
- −$47.07
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$3.52
- Costs to cover
- 0.641%
- Break-even
- 7.3 days
Slippage from Binance: live order book, 2 min ago; Phoenix: live order book, 17 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 Binance live order book, 2 min ago | 0.97 bp | 13.4 bp −$13 | 27.9 bp −$279 | 300.4 bp −$30.0K | doesn't fit |
| Sell Phoenix live order book, 17 min ago | 1.96 bp | 21.0 bp −$21 | 59.7 bp −$597 | 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 | −0.0726% | 1h | 0.5120 | −0.030% | $13K | $11K | 10x | as long as short |
| OKX JTO-USDT-SWAP | −0.0026% | 4h | 0.5122 | +0.009% | $3.9M | $9.5M | 50x | as long as short |
| Paradex JTO-USD-PERP | −0.0015% | 8h | 0.5129 | +0.139% | $512 | — | 5x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5133 | +0.228% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +8.156% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.901% | $31 | $43K | 5.5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5123 | +0.036% | $101K | $186K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5132 | +0.200% | $7.0M | $3.1M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5127 | +0.097% | $172K | $177K | 10x | as long as short |
| Binance JTOUSDTlong | +0.0100% | 4h | 0.5122 | long leg | $11.3M | $28.1M | 75x |
Show all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit JTOUSDT | +0.0100% | 4h | 0.5126 | +0.087% | $7.5M | $13.6M | 50x | as long as short |
| Gate JTO_USDT | +0.0100% | 8h | 0.5122 | +0.009% | $912K | $1.2M | 75x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5121 | −0.011% | $7.0M | $3.6M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5128 | +0.118% | $1.6M | $598K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5125 | +0.067% | $2.5M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5124 | +0.048% | — | $67.9M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5127 | +0.102% | $223K | $305K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5120 | −0.030% | $4K | $2K | 10x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5128 | +0.126% | $56K | −$0 | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5121 | −0.012% | $521K | $851K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0223% / S −0.2181% | 1h | 0.5123 | +0.019% | $2K | — | 50x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0249% | 1h | 0.5128 | +0.132% | $346K | $313K | 25x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0320% | 1h | 0.5148 | +0.516% | $56K | $113K | 25x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5124 | +0.048% | $617K | $607K | 75x | as long as short |
| Backpack JTO_USDC_PERP | +0.0450% | 1h | 0.5128 | +0.116% | $225K | $463K | 10x | as long as short |
| Phoenix JTOshort | +0.0465% | 1h | 0.5123 | +0.028% | $368K | $262K | 5x |
Binance JTOUSDT
Phoenix JTO
Deribit JTO_USDC-PERPETUAL
OKX JTO-USDT-SWAP
Paradex JTO-USD-PERP
Injective JTO/USDC PERP
Lighter JTO
Hyperliquid JTO
Aster JTOUSDT
Bybit JTOUSDT
Gate JTO_USDT
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Bulk JTO-USD
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
Kraken Futures PF_JTOUSD
Coinbase International JTO-PERP-INTX
BloFin JTO-USDT
Backpack JTO_USDC_PERP