Funding you earn now, next payment 03:00 UTC+0.0915%/8h= +100.2% APRpaid last 24h +0.149%
Price spread now: Phoenix against Gate−0.117%62s7-day average +0.153% · you buy dearer than you sell
Net, funding: paid 7d − costs−$79as 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−$1231.228% of the position
Funding, last 7 days+0.435%+$43 on $10k
+Price spread, last 4 days (all we have)+0.608%+$61 · spread now −0.117%, 7d avg +0.153%
=Funding pays, the price is against you. Phoenix is 0.270% cheaper against Gate than usual: you would sell low and buy high (spread −0.117% now, against its 7-day average of +0.153%). If the spread goes back, that is −$27 on $10k: about 24 hours of funding at the current rate (+$27 a day). At the pace of the last 7 days (+0.435% in total) that is about 4.3 days. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.435% in total (about 22.7% a year). A funding rate is set anew for every payment. 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 | Gate JTO_USDT | 0.5109 | −0.0446 | get 0.0446% / 8h | 4h 42m | $888K | $1.0M | 75x |
| Short | Phoenix JTO | 0.5103 | 0.0469 | get 0.0059% / 1h | 42m 23s | $377K | $110K | 5x |
Gate JTO_USDT
Phoenix JTOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Gate. 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
- $192.23
- Price spread: −0.117% → +0.153%
- −$27
- Slippage, 4 orders
- −$100.79
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $42.44
- Costs to cover
- 1.228%
- Break-even
- 5.5 days
Slippage from Gate: live order book, 10 min ago; Phoenix: live order book, 14 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 Gate live order book, 10 min ago | 7.84 bp | 42.8 bp −$43 | 162.1 bp −$1,621 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 14 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 | −0.0728% | 1h | 0.5108 | −0.020% | $13K | $10K | 10x | as long as short |
| Gate JTO_USDTlong | −0.0446% | 8h | 0.5109 | long leg | $888K | $1.0M | 75x | |
| dYdX JTO-USD | 0.0000% | 1h | 0.5117 | +0.157% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5539 | +8.426% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.662% | $31 | $43K | 5.5x | as long as short |
| Paradex JTO-USD-PERP | +0.0076% | 8h | 0.5110 | +0.025% | $510 | — | 5x | as long as short |
| OKX JTO-USDT-SWAP | +0.0090% | 4h | 0.5105 | −0.078% | $3.8M | $9.3M | 50x | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0094% | 4h | 0.5110 | +0.020% | $3K | $652 | 10x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5117 | +0.155% | $117K | $226K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5117 | +0.155% | $7.0M | $3.2M | 5x | as long as short |
Deribit JTO_USDC-PERPETUAL
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 | 0.5114 | +0.107% | $125K | $219K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5107 | −0.039% | $11.2M | $27.3M | 75x | as long as short |
| Bybit JTOUSDT | +0.0100% | 4h | 0.5108 | −0.020% | $7.1M | $13.9M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5096 | −0.254% | $55K | $17K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5106 | −0.059% | $6.5M | $3.4M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5110 | +0.025% | $1.5M | $596K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5111 | +0.039% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5107 | −0.039% | — | $68.0M | — | as long as short |
| Backpack JTO_USDC_PERP | +0.0100% | 1h | 0.5117 | +0.155% | $267K | $314K | 10x | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5092 | −0.332% | $221K | $288K | — | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5110 | +0.014% | $515K | $1.7M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5114 | +0.093% | $2K | — | 50x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5104 | −0.098% | $475K | $501K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0416% | 1h | 0.5127 | +0.352% | $58K | $136K | 25x | as long as short |
| Phoenix JTOshort | +0.0469% | 1h | 0.5103 | −0.117% | $377K | $110K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0735% | 1h | 0.5118 | +0.178% | $335K | $311K | 25x | as long as short |
Aster JTOUSDT
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
Coinbase International JTO-PERP-INTX
Kraken Futures PF_JTOUSD