Funding you earn now, next payment 04:00 UTC−0.0210%/8h= −23.0% APRpaid last 24h −0.088%
Price spread now: BingX against Phoenix+0.388%79s7-day average −0.168% · you sell dearer than you buy
Net, funding: paid 7d − costs−$106as 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−$700.703% of the position
Funding, last 7 days−0.352%−$35 on $10k
+Price spread, last 4 days (all we have)−0.838%−$84 · spread now +0.388%, 7d avg −0.168%
=The price spread pays, funding is against you. BingX is 0.556% dearer against Phoenix than usual: you sell high and buy low (spread +0.388% now, against its 7-day average of −0.168%): +$56 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 8.8 days. The two prices were read 79 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 | Phoenix JTO | 0.5153 | 0.0310 | pay 0.0039% / 1h | 28m 04s | $380K | $114K | 5x |
| Short | BingX JTO-USDT | 0.5173 | 0.0100 | get 0.0050% / 4h | 3h 28m | — | $27.5M | — |
Phoenix JTO
BingX JTO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Phoenix. 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
- −$44.05
- Price spread: +0.388% → −0.168%
- $55.58
- Slippage, 4 orders
- −$53.3
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$58.78
- Costs to cover
- 0.703%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 24 min ago; BingX: live order book, 11 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 Phoenix live order book, 24 min ago | 1.93 bp | 20.8 bp −$21 | 68.3 bp −$683 | doesn't fit | doesn't fit |
| Sell BingX live order book, 11 min ago | 1.95 bp | 13.3 bp −$13 | 25.1 bp −$251 | 189.5 bp −$18.9K | 541.3 bp −$270.7K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Gate JTO_USDT | −0.0354% | 8h | 0.5175 | +0.427% | $900K | $1.0M | 75x | as long as short |
| Deribit JTO_USDC-PERPETUAL | −0.0330% | 1h | 0.5172 | +0.369% | $13K | $10K | 10x | as long as short |
| Bybit JTOUSDT | −0.0266% | 4h | 0.5174 | +0.408% | $7.1M | $13.9M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5174 | +0.407% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +7.502% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −3.493% | $31 | $43K | 5.5x | as long as short |
| OKX JTO-USDT-SWAP | +0.0094% | 4h | 0.5171 | +0.349% | $3.9M | $9.4M | 50x | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0094% | 4h | 0.5173 | +0.388% | $4K | $652 | 10x | as long as short |
| Paradex JTO-USD-PERP | +0.0096% | 8h | 0.5175 | +0.429% | $516 | — | 5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5181 | +0.536% | $119K | $227K | 10x | as long as short |
Gate JTO_USDT
Deribit JTO_USDC-PERPETUAL
Bybit JTOUSDT
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
OKX JTO-USDT-SWAP
Orderly PERP_JTO_USDC_mythos
Paradex JTO-USD-PERP
Lighter JTOShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid JTO | +0.0100% | 1h | 0.5183 | +0.590% | $7.1M | $3.1M | 5x | as long as short |
| Aster JTOUSDT | +0.0100% | 4h | 0.5176 | +0.452% | $123K | $219K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5172 | +0.371% | $11.3M | $27.6M | 75x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5173 | +0.388% | $6.2M | $3.4M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5177 | +0.458% | $1.5M | $603K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5175 | +0.427% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDTshort | +0.0100% | 4h | 0.5173 | +0.388% | — | $27.5M | — | |
| Variational Omni JTO | +0.0100% | 4h | 0.5178 | +0.487% | $224K | $239K | — | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5145 | −0.155% | $56K | $17K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5171 | +0.355% | $522K | $1.7M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0224% / S −0.2181% | 1h | 0.5174 | +0.417% | $2K | — | 50x | as long as short |
| Phoenix JTOlong | +0.0310% | 1h | 0.5153 | long leg | $380K | $114K | 5x | |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5164 | +0.213% | $613K | $522K | 75x | as long as short |
| Kraken Futures PF_JTOUSD | +0.0377% | 1h | 0.5179 | +0.504% | $337K | $311K | 25x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0440% | 1h | 0.5182 | +0.563% | $59K | $137K | 25x | as long as short |
| Backpack JTO_USDC_PERP | +0.0714% | 1h | 0.5181 | +0.545% | $268K | $310K | 10x | as long as short |
Hyperliquid JTO
Aster JTOUSDT
Binance JTOUSDT
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
Variational Omni JTO
Bulk JTO-USD
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
BloFin JTO-USDT
Kraken Futures PF_JTOUSD
Coinbase International JTO-PERP-INTX
Backpack JTO_USDC_PERP