Funding you earn now, next payment 05:00 UTC+0.0364%/8h= +39.8% APRpaid last 24h +0.085%
Price spread now: Phoenix against Binance+0.884%105s7-day average +0.183% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as 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−$720.716% of the position
Funding, last 7 days+0.384%+$38 on $10k
+Price spread, last 4 days (all we have)−0.464%−$46 · spread now +0.884%, 7d avg +0.183%
=Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.702% dearer against Binance than usual: you sell high and buy low: +$70 more if the spread goes back to its 7-day average of +0.183%. The two prices were read 105 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 | Binance JTOUSDT | 0.5089 | 0.0100 | pay 0.0050% / 4h | 2h 31m | $11.0M | $28.0M | 75x |
| Short | Phoenix JTO | 0.5134 | 0.0464 | get 0.0058% / 1h | 31m 41s | $379K | $118K | 5x |
Binance JTOUSDT
Phoenix JTOFunding 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
- $76.39
- Price spread: +0.884% → +0.183%
- $70.15
- Slippage, 4 orders
- −$54.61
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $74.94
- Costs to cover
- 0.716%
- Break-even
- 0.1 days
Slippage from Binance: live order book, 10 min ago; Phoenix: live order book, 15 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, 10 min ago | 0.98 bp | 14.1 bp −$14 | 35.7 bp −$357 | 312.0 bp −$31.2K | doesn't fit |
| Sell Phoenix live order book, 15 min ago | 1.94 bp | 20.8 bp −$21 | 60.3 bp −$603 | 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 | −0.0535% | 1h | 0.5091 | +0.039% | $3K | $20K | 10x | as long as short |
| Gate JTO_USDT | −0.0290% | 8h | 0.5086 | −0.059% | $897K | $1.0M | 75x | as long as short |
| OKX JTO-USDT-SWAP | −0.0009% | 4h | 0.5087 | −0.039% | $3.8M | $9.4M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5090 | +0.024% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +8.855% | — | — | — | as long as short |
| Bybit JTOUSDT | +0.0025% | 4h | 0.5088 | −0.020% | $6.9M | $14.1M | 50x | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.279% | $31 | $43K | 5.5x | as long as short |
| Paradex JTO-USD-PERP | +0.0085% | 8h | 0.5087 | −0.038% | $487 | $10 | 5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5094 | +0.098% | $113K | $229K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5095 | +0.126% | $6.9M | $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 | 0.5089 | −0.005% | $121K | $219K | 10x | as long as short |
| Binance JTOUSDTlong | +0.0100% | 4h | 0.5089 | long leg | $11.0M | $28.0M | 75x | |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5086 | −0.059% | $6.0M | $3.5M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5090 | +0.018% | $1.5M | $609K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5087 | −0.039% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5086 | −0.059% | — | $8.8M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5121 | +0.623% | $219K | $242K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5090 | +0.020% | $3K | $652 | 10x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5084 | −0.098% | $55K | $2K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5086 | −0.065% | $512K | $2.2M | 10x | as long as short |
| Backpack JTO_USDC_PERP | +0.0180% | 1h | 0.5099 | +0.198% | $265K | $309K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5096 | +0.136% | $2K | — | 50x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5090 | +0.020% | $608K | $528K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0440% | 1h | 0.5114 | +0.491% | $58K | $134K | 25x | as long as short |
| Phoenix JTOshort | +0.0464% | 1h | 0.5134 | +0.884% | $379K | $118K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0486% | 1h | 0.5097 | +0.163% | $327K | $328K | 25x | as long as short |
Aster JTOUSDT
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
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