Funding you earn now, next payment 01:00 UTC+0.0202%/8h= +22.1% APRnext payment +$0.25 per $10,000 · paid last 24h +0.012%
Price spread now: Phoenix against Coinbase International−0.039%7-day average −0.215% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 3 days (all we have)+0.108%+$11 · spread now −0.039%, 7d avg −0.215%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.176% dearer against Coinbase International than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.215%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.040% in total (about -2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International JTO-PERP-INTX | 0.5139 | 0.0264 | pay 0.0033% / 1h | 45m 15s | $59K | $135K | 25x |
| Short | Phoenix JTO | 0.5137 | 0.0466 | get 0.0058% / 1h | 45m 15s | $379K | $114K | 5x |
Coinbase International JTO-PERP-INTX
Phoenix JTOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Coinbase International. 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
- $42.41
- Price spread: −0.039% → −0.215%
- $17.62
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $43.02
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: Coinbase International: live order book, 23 min ago; Phoenix: live order book, 21 min ago. Net counts fees only.
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 Coinbase International live order book, 23 min ago | 12.61 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 21 min ago | 1.92 bp | 20.7 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 | −0.0336% | 1h | 0.5118 | −0.409% | $13K | $10K | 10x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5119 | −0.385% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +7.796% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −3.230% | $31 | $43K | 5.5x | as long as short |
| OKX JTO-USDT-SWAP | +0.0042% | 4h | 0.5118 | −0.409% | $3.8M | $9.4M | 50x | as long as short |
| Paradex JTO-USD-PERP | +0.0065% | 8h | 0.5118 | −0.410% | $511 | — | 5x | as long as short |
| Gate JTO_USDT | +0.0085% | 8h | 0.5119 | −0.389% | $905K | $1.0M | 75x | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0094% | 4h | 0.5118 | −0.409% | $3K | $872 | 10x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5127 | −0.241% | $107K | $200K | 10x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5121 | −0.357% | $127K | $223K | 10x | as long as short |
Deribit JTO_USDC-PERPETUAL
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
OKX JTO-USDT-SWAP
Paradex JTO-USD-PERP
Gate JTO_USDT
Orderly PERP_JTO_USDC_mythos
Lighter JTO
Aster JTOUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance JTOUSDT | +0.0100% | 4h | 0.5117 | −0.427% | $11.3M | $27.7M | 75x | as long as short |
| Bybit JTOUSDT | +0.0100% | 4h | 0.5122 | −0.331% | $7.5M | $13.5M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5132 | −0.135% | $56K | $15K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5119 | −0.389% | $6.8M | $3.5M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5124 | −0.292% | $1.6M | $577K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5123 | −0.311% | $2.4M | $2.4M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5119 | −0.389% | — | $68.0M | — | as long as short |
| Backpack JTO_USDC_PERP | +0.0100% | 1h | 0.5138 | −0.029% | $222K | $434K | 10x | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5131 | −0.161% | $223K | $296K | — | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5117 | −0.419% | $520K | $1.7M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5120 | −0.368% | $2K | — | 50x | as long as short |
| Coinbase International JTO-PERP-INTXlong | +0.0264% | 1h | 0.5139 | long leg | $59K | $135K | 25x | |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5133 | −0.117% | $622K | $568K | 75x | as long as short |
| Phoenix JTOshort | +0.0466% | 1h | 0.5137 | −0.039% | $379K | $114K | 5x | |
| Hyperliquid JTO | +0.0513% | 1h | 0.5130 | −0.167% | $7.2M | $3.0M | 5x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0775% | 1h | 0.5123 | −0.309% | $345K | $308K | 25x | as long as short |
Binance JTOUSDT
Bybit JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Backpack JTO_USDC_PERP
Variational Omni JTO
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
BloFin JTO-USDT
Hyperliquid JTO
Kraken Futures PF_JTOUSD