Funding you earn now, next payment 06:00 UTC+0.0371%/8h= +40.6% APRnext payment +$0.46 per $10,000 · paid last 24h +0.088%
Price spread now: Phoenix against Lighter+0.212%104s7-day average +0.061% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as 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−$1021.018% of the position
Funding, last 7 days+0.368%+$37 on $10k
+Price spread, last 4 days (all we have)+0.074%+$7 · spread now +0.212%, 7d avg +0.061%
=Together, before fees+0.443%+ Points / potential airdropLighter: Season 3 · farm board+$44 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.151% dearer against Lighter than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.061%. The two prices were read 104 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 | Lighter JTO | 0.5090 | 0.0096 | pay 0.0012% / 1h | 1m 36s | $114K | $243K | 10x |
| Short | Phoenix JTO | 0.5101 | 0.0467 | get 0.0058% / 1h | 1m 36s | $376K | $118K | 5x |
Lighter JTO
Phoenix JTOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- $77.91
- Price spread: +0.212% → +0.061%
- $15.14
- Slippage, 4 orders
- −$94.78
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$8.72
- Costs to cover
- 1.018%
- Break-even
- 7.8 days
Slippage from Lighter: live order book, 23 min ago; Phoenix: live order book, 40 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 Lighter live order book, 23 min ago | 13.55 bp | 30.3 bp −$30 | 59.7 bp −$597 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 40 min ago | 1.96 bp | 21.1 bp −$21 | 59.8 bp −$598 | 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 | 0.5089 | −0.024% | $13K | $30K | 10x | as long as short |
| Gate JTO_USDT | −0.0110% | 8h | 0.5086 | −0.083% | $883K | $1.0M | 75x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5087 | −0.063% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +8.829% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.302% | $31 | $43K | 5.5x | as long as short |
| Bybit JTOUSDT | +0.0064% | 4h | 0.5079 | −0.220% | $6.8M | $14.3M | 50x | as long as short |
| Paradex JTO-USD-PERP | +0.0082% | 8h | 0.5083 | −0.150% | $487 | $10 | 5x | as long as short |
| Lighter JTOlong | +0.0096% | 1h | 0.5090 | long leg | $114K | $243K | 10x | |
| Hyperliquid JTO | +0.0100% | 1h | 0.5092 | +0.031% | $6.9M | $3.1M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5087 | −0.054% | $119K | $228K | 10x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Bybit JTOUSDT
Paradex JTO-USD-PERP
Hyperliquid 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 | 0.5081 | −0.180% | $10.8M | $28.7M | 75x | as long as short |
| OKX JTO-USDT-SWAP | +0.0100% | 4h | 0.5077 | −0.259% | $3.8M | $9.7M | 50x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5092 | +0.045% | $55K | −$0 | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5086 | −0.083% | $6.1M | $3.6M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5090 | −0.012% | $1.5M | $595K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5085 | −0.102% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5083 | −0.141% | — | $8.6M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5087 | −0.071% | $218K | $235K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5090 | −0.004% | $4K | $918 | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5080 | −0.203% | $521K | $2.3M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5092 | +0.037% | $2K | — | 50x | as long as short |
| Backpack JTO_USDC_PERP | +0.0236% | 1h | 0.5095 | +0.100% | $236K | $320K | 10x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5102 | +0.232% | $588K | $564K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0456% | 1h | 0.5110 | +0.389% | $57K | $139K | 25x | as long as short |
| Phoenix JTOshort | +0.0467% | 1h | 0.5101 | +0.212% | $376K | $118K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0847% | 1h | 0.5095 | +0.095% | $323K | $369K | 25x | as long as short |
Binance JTOUSDT
OKX JTO-USDT-SWAP
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
Backpack JTO_USDC_PERP
BloFin JTO-USDT
Coinbase International JTO-PERP-INTX
Kraken Futures PF_JTOUSD