Funding arb · Price arb /

JTO

all JTO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0132%/8h= +14.4% APRpaid last 24h +0.015%

Price spread now: Phoenix against BloFin−0.276%7-day average +0.210% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 4 days (all we have)+0.590%+$59 · spread now −0.276%, 7d avg +0.210%

Together, before fees+0.511%+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.486% cheaper against BloFin than usual: you would sell low and buy high (spread −0.276% now, against its 7-day average of +0.210%). If the spread goes back, that is −$49 on $10k: about 12 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.079%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin JTO-USDT	0.5080	0.0340	pay 0.0170% / 4h	16m 31s	$583K	$562K	75x
Short	Phoenix JTO	0.5066	0.0472	get 0.0059% / 1h	16m 31s	$369K	$123K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now −0.276%Rate

Funding earned: $27.7
Price spread: −0.276% → +0.210%: −$48.57
Slippage, 4 orders: −$55.91
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$95.78
Costs to cover: 0.749%
Break-even: 31.2 days

Slippage from BloFin: live order book, 65 min ago; Phoenix: live order book, 20 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 BloFin live order book, 65 min ago	3.93 bp	12.9 bp −$13	24.8 bp −$248	122.8 bp −$12.3K	doesn't fit
Sell Phoenix live order book, 20 min ago	1.97 bp	21.2 bp −$21	60.2 bp −$602	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	−0.0338%	1h	0.5095	+0.295%	$13K	$30K	10x	as long as short
Gate JTO_USDT	−0.0037%	8h	0.5096	+0.315%	$883K	$1.0M	75x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5096	+0.317%	$4K	$4K	5x	as long as short
Reya JTORUSDPERP	0.0000%	1h	0.5540	+9.046%	—	—	—	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−2.106%	$31	$43K	5.5x	as long as short
Paradex JTO-USD-PERP	+0.0038%	8h	0.5096	+0.322%	$488	$10	5x	as long as short
Bybit JTOUSDT	+0.0051%	4h	0.5095	+0.295%	$6.8M	$14.3M	50x	as long as short
Lighter JTO	+0.0096%	1h	0.5098	+0.352%	$114K	$243K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5101	+0.412%	$6.9M	$3.1M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5098	+0.358%	$119K	$230K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance JTOUSDT	+0.0100%	4h	0.5094	+0.276%	$10.8M	$28.6M	75x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5091	+0.217%	$3.7M	$9.8M	50x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5073	−0.129%	$55K	−$0	10x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5093	+0.256%	$6.1M	$3.5M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5097	+0.325%	$1.5M	$588K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5099	+0.374%	$2.3M	$2.4M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5095	+0.295%	—	$8.6M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5054	−0.519%	$216K	$229K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5096	+0.315%	$4K	$918	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5093	+0.249%	$521K	$2.7M	10x	as long as short
Backpack JTO_USDC_PERP	+0.0147%	1h	0.5101	+0.423%	$243K	$325K	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5097	+0.339%	$2K	—	50x	as long as short
BloFin JTO-USDTlong	+0.0340%	4h	0.5080	long leg	$583K	$562K	75x
Coinbase International JTO-PERP-INTX	+0.0464%	1h	0.5101	+0.413%	$58K	$133K	25x	as long as short
Phoenix JTOshort	+0.0472%	1h	0.5066	−0.276%	$369K	$123K	5x
Kraken Futures PF_JTOUSD	+0.0844%	1h	0.5099	+0.375%	$323K	$371K	25x	as long as short