Funding arb · Price arb /

MARA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0566%/8h= −62.0% APRpaid last 24h −0.097%

Price spread now: edgeX against Bitget+0.163%64s7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$212as 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−$1851.849% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.275%−$28 on $10k

Price spread, last 4 days (all we have)−0.128%−$13 · spread now +0.163%, 7d avg −0.009%

Together, before fees−0.404%+ Points / potential airdropedgeX: Active · farm board−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.172% dearer against Bitget than usual: you sell high and buy low (spread +0.163% now, against its 7-day average of −0.009%): +$17 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.275% in total) that is about 4.4 days. The two prices were read 64 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 -0.275% in total (about -14.4% 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	Bitget MARAUSDT	13.113	−0.0266	get 0.0266% / 8h	2h 02m	$97K	$2.9M	20x
Short	edgeX MARAUSDC	13.134	−0.0832	pay 0.0416% / 4h	2h 02m	$15K	$313K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bitget. 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 BitgetbpFee edgeXbpOrdersPrice spread, now +0.163%Rate

Funding earned: −$118.96
Price spread: +0.163% → −0.009%: $17.23
Slippage, 4 orders: −$163.93
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$286.66
Costs to cover: 1.849%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; edgeX: live order book, 46 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 Bitget live order book, 5 min ago	31.25 bp	40.1 bp −$40	51.5 bp −$515	doesn't fit	doesn't fit
Sell edgeX live order book, 46 min ago	15.23 bp	51.3 bp −$51	doesn't fit	doesn't fit	doesn't fit

MARA on 10 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
edgeX MARAUSDCshort	−0.0832%	4h	13.134	+0.163%	$15K	$313K	10x
Bitget MARAUSDTlong	−0.0266%	8h	13.113	long leg	$97K	$2.9M	20x
Binance MARAUSDT	0.0000%	8h	13.125	+0.091%	$177K	$474K	20x	as long as short
Bybit MARAUSDT	0.0000%	8h	13.120	+0.053%	$257K	$137K	25x	as long as short
OKX MARA-USDT-SWAP	0.0000%	8h	13.120	+0.053%	$60K	$186K	20x	as long as short
Gate MARA_USDT	0.0000%	8h	13.152	+0.297%	$30K	$23K	20x	as long as short
HTX MARA-USDT	0.0000%	8h	13.110	−0.023%	$5K	$264K	20x	as long as short
Phemex MARAUSDT	0.0000%	8h	13.140	+0.206%	$375K	$38K	20x	as long as short
Extended MARA-USD	+0.0040%	1h	13.321	+1.586%	$1K	—	5x	as long as short
KuCoin MARAUSDTM	+0.0100%	8h	13.141	+0.214%	$30K	$2.9M	20x	as long as short