Funding arb · Price arb /

JTO

all JTO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0316%/8h= +34.6% APRnext payment +$0.39 per $10,000 · paid last 24h —

Price spread now: Phoenix against Reya−8.891%121s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Phoenix

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

Funding pays, the price is against you. Phoenix is 8.891% cheaper against Reya than usual: you would sell low and buy high (spread −8.891% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$889 on $10k: about 3 months of funding at the current rate (+$9 a day). The two prices were read 121 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	Reya JTORUSDPERP	0.5540	0	get 0.0000% / 1h	48m 14s	—	—	—
Short	Phoenix JTO	0.5047	0.0316	get 0.0039% / 1h	48m 14s	$357K	$122K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 ReyabpFee PhoenixbpOrdersPrice spread, now −8.891%Rate

Funding earned: $66.35
Price spread: −8.891% → 0.000%: −$889.07
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$835.72
Costs to cover: 0.130%
Break-even: 95.2 days

Slippage unknown: Reya: no order-book sample; Phoenix: live order book, 62 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 Reya no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 62 min ago	1.98 bp	21.2 bp −$21	60.5 bp −$605	doesn't fit	doesn't fit

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 exchanges

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	−0.0741%	1h	0.5039	−9.035%	$22K	$40K	10x	as long as short
Kraken Futures PF_JTOUSD	−0.0317%	1h	0.5040	−9.023%	$329K	$402K	25x	as long as short
Bybit JTOUSDT	−0.0197%	4h	0.5043	−8.963%	$6.5M	$13.1M	50x	as long as short
Paradex JTO-USD-PERP	−0.0028%	8h	0.5039	−9.037%	$483	$10	5x	as long as short
dYdX JTO-USD	0.0000%	1h	0.5044	−8.950%	$3K	$5K	5x	as long as short
Reya JTORUSDPERPlong	0.0000%	1h	0.5540	long leg	—	—	—
Injective JTO/USDC PERP	+0.0033%	1h	0.4973	−10.227%	$31	$43K	5.5x	as long as short
Lighter JTO	+0.0096%	1h	0.5044	−8.939%	$112K	$205K	10x	as long as short
Hyperliquid JTO	+0.0100%	1h	0.5049	−8.858%	$6.8M	$2.8M	5x	as long as short
Aster JTOUSDT	+0.0100%	4h	0.5043	−8.954%	$116K	$204K	10x	as long as short

Show all 26 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance JTOUSDT	+0.0100%	4h	0.5038	−9.053%	$10.5M	$25.7M	75x	as long as short
OKX JTO-USDT-SWAP	+0.0100%	4h	0.5037	−9.071%	$3.7M	$9.1M	50x	as long as short
Gate JTO_USDT	+0.0100%	8h	0.5038	−9.053%	$877K	$855K	75x	as long as short
MEXC JTO_USDT	+0.0100%	4h	0.5038	−9.053%	$6.0M	$3.0M	50x	as long as short
KuCoin JTOUSDTM	+0.0100%	4h	0.5039	−9.044%	$1.4M	$590K	20x	as long as short
Bitget JTOUSDT	+0.0100%	4h	0.5040	−9.017%	$2.2M	$2.2M	50x	as long as short
BingX JTO-USDT	+0.0100%	4h	0.5038	−9.053%	—	$8.3M	—	as long as short
Variational Omni JTO	+0.0100%	4h	0.5035	−9.103%	$217K	$191K	—	as long as short
Orderly PERP_JTO_USDC_mythos	+0.0100%	4h	0.5038	−9.053%	$4K	$798	10x	as long as short
Bulk JTO-USD	+0.0100%	1h	0.5050	−8.837%	$55K	−$0	10x	as long as short
Backpack JTO_USDC_PERP	+0.0101%	1h	0.5046	−8.914%	$235K	$337K	10x	as long as short
Extended JTO-USD	+0.0104%	1h	0.5036	−9.083%	$516K	$2.7M	10x	as long as short
GMX JTO/USD [WBTC.b-USDC]	L +0.0223% / S −0.2181%	1h	0.5044	−8.945%	$2K	—	50x	as long as short
Phoenix JTOshort	+0.0316%	1h	0.5047	−8.891%	$357K	$122K	5x
BloFin JTO-USDT	+0.0340%	4h	0.5030	−9.198%	$572K	$517K	75x	as long as short
Coinbase International JTO-PERP-INTX	+0.0440%	1h	0.5036	−9.089%	$56K	$121K	25x	as long as short