Funding arb · Price arb /

JTO

all JTO markets

Swap Backtest

Alert: funding

Alert: spread

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

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

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%

Together, before fees+0.765%+$76 on $10k · with fees, hour by hour

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 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.028%Rate

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