Funding arb · Price arb /

JTO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0465%/8h= −50.9% APRnext payment −$0.58 per $10,000 · paid last 24h —

Price spread now: Reya against Phoenix+7.288%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 7.288% dearer against Phoenix than usual: you sell high and buy low (spread +7.288% now, against zero (this spread has no 7-day history yet)): +$729 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 52 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix JTO	0.5163	0.0465	pay 0.0058% / 1h	44m 57s	$371K	$266K	5x
Short	Reya JTORUSDPERP	0.5539	0	get 0.0000% / 1h	44m 57s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhoenixbpFee ReyabpOrdersPrice spread, now +7.288%Rate

Funding earned: −$97.56
Price spread: +7.288% → 0.000%: $728.78
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $618.22
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 31 min ago; Reya: no order-book sample. 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 Phoenix live order book, 31 min ago	1.95 bp	21.0 bp −$21	67.9 bp −$679	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0525%	1h	0.5154	−0.174%	$13K	$11K	10x	as long as short
Gate JTO_USDT	−0.0148%	8h	0.5176	+0.252%	$932K	$1.4M	75x	as long as short
OKX JTO-USDT-SWAP	−0.0020%	4h	0.5178	+0.291%	$3.9M	$9.6M	50x	as long as short
Paradex JTO-USD-PERP	−0.0017%	8h	0.5162	−0.026%	$515	—	5x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5167	+0.084%	$4K	$4K	5x	as long as short
Reya JTORUSDPERPshort	0.0000%	1h	0.5539	+7.288%	—	—	—
Bulk JTO-USD	+0.0023%	1h	0.5183	+0.387%	$56K	$1K	10x	as long as short
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−3.680%	$31	$43K	5.5x	as long as short
Lighter JTO	+0.0096%	1h	0.5166	+0.050%	$108K	$182K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5188	+0.482%	$7.3M	$3.1M	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster JTOUSDT	+0.0100%	4h	0.5171	+0.157%	$174K	$176K	10x	as long as short
Binance JTOUSDT	+0.0100%	4h	0.5179	+0.306%	$11.5M	$28.0M	75x	as long as short
Bybit JTOUSDT	+0.0100%	4h	0.5183	+0.387%	$7.4M	$13.8M	50x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5176	+0.252%	$7.1M	$3.7M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5181	+0.341%	$1.6M	$638K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5183	+0.387%	$2.5M	$2.4M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5179	+0.310%	—	$66.2M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5164	+0.017%	$182K	$258K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5153	−0.194%	$4K	$2K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5180	+0.332%	$524K	$854K	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0224% / S −0.2181%	1h	0.5155	−0.157%	$2K	—	50x	as long as short
Kraken Futures PF_JTOUSD	+0.0224%	1h	0.5165	+0.047%	$350K	$311K	25x	as long as short
Backpack JTO_USDC_PERP	+0.0226%	1h	0.5179	+0.316%	$227K	$478K	10x	as long as short
Coinbase International JTO-PERP-INTX	+0.0296%	1h	0.5189	+0.504%	$57K	$117K	25x	as long as short
BloFin JTO-USDT	+0.0340%	4h	0.5170	+0.136%	$633K	$628K	75x	as long as short
Phoenix JTOlong	+0.0465%	1h	0.5163	long leg	$371K	$266K	5x