Funding you earn now, next payment 03:00 UTC+0.0369%/8h= +40.4% APRpaid last 24h +0.088%
Price spread now: Phoenix against BingX+0.291%64s7-day average +0.168% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as 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−$720.720% of the position
Funding, last 7 days+0.351%+$35 on $10k
+Price spread, last 4 days (all we have)+0.221%+$22 · spread now +0.291%, 7d avg +0.168%
=Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.123% dearer against BingX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.168%. The two prices were read 64 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 | BingX JTO-USDT | 0.5151 | 0.0100 | pay 0.0050% / 4h | 22m 28s | — | $68.0M | — |
| Short | Phoenix JTO | 0.5166 | 0.0469 | get 0.0059% / 1h | 22m 28s | $381K | $110K | 5x |
BingX JTO-USDT
Phoenix JTOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BingX. 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
- $77.57
- Price spread: +0.291% → +0.168%
- $12.31
- Slippage, 4 orders
- −$55
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $17.89
- Costs to cover
- 0.720%
- Break-even
- 5.4 days
Slippage from BingX: live order book, 17 min ago; Phoenix: live order book, 34 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 BingX live order book, 17 min ago | 1.95 bp | 15.1 bp −$15 | 28.9 bp −$289 | 232.6 bp −$23.3K | 561.5 bp −$280.7K |
| Sell Phoenix live order book, 34 min ago | 1.94 bp | 20.8 bp −$21 | 59.5 bp −$595 | 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 | −0.0526% | 1h | 0.5150 | −0.019% | $13K | $10K | 10x | as long as short |
| Gate JTO_USDT | −0.0398% | 8h | 0.5152 | +0.019% | $895K | $1.0M | 75x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5153 | +0.039% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +7.541% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −3.456% | $31 | $43K | 5.5x | as long as short |
| Paradex JTO-USD-PERP | +0.0079% | 8h | 0.5152 | +0.019% | $514 | — | 5x | as long as short |
| OKX JTO-USDT-SWAP | +0.0089% | 4h | 0.5150 | −0.019% | $3.9M | $9.4M | 50x | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0094% | 4h | 0.5150 | −0.019% | $4K | $652 | 10x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5154 | +0.066% | $118K | $226K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5159 | +0.149% | $7.0M | $3.0M | 5x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Paradex JTO-USD-PERP
OKX JTO-USDT-SWAP
Orderly PERP_JTO_USDC_mythos
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 | 0.5156 | +0.094% | $126K | $219K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5151 | 0.000% | $11.3M | $27.5M | 75x | as long as short |
| Bybit JTOUSDT | +0.0100% | 4h | 0.5151 | 0.000% | $7.2M | $14.0M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5151 | 0.000% | $56K | $17K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5154 | +0.058% | $6.3M | $3.5M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5156 | +0.093% | $1.5M | $600K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5154 | +0.058% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDTlong | +0.0100% | 4h | 0.5151 | long leg | — | $68.0M | — | |
| Variational Omni JTO | +0.0100% | 4h | 0.5154 | +0.049% | $223K | $267K | — | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5152 | +0.011% | $518K | $1.7M | 10x | as long as short |
| Backpack JTO_USDC_PERP | +0.0134% | 1h | 0.5159 | +0.161% | $268K | $316K | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5153 | +0.036% | $2K | — | 50x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5149 | −0.039% | $619K | $506K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0416% | 1h | 0.5172 | +0.408% | $59K | $137K | 25x | as long as short |
| Phoenix JTOshort | +0.0469% | 1h | 0.5166 | +0.291% | $381K | $110K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0729% | 1h | 0.5159 | +0.154% | $337K | $312K | 25x | as long as short |
Aster JTOUSDT
Binance JTOUSDT
Bybit JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
Variational Omni JTO
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