Funding arb · Price arb /

MARA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: Phemex against Bitget+0.182%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$261as in the Funding arb table

Net, price: spread back to 7d avg − costs−$239as in the Price arb table

costs, in and out, $10k−$2592.588% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now +0.182%, 7d avg −0.016%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.199% dearer against Bitget than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MARAUSDT	13.166	0	get 0.0000% / 8h	7h 02m	$88K	$2.7M	20x
Short	Phemex MARAUSDT	13.190	0	get 0.0000% / 8h	7h 02m	$378K	$38K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.182%Rate

Funding earned: $0
Price spread: +0.182% → −0.016%: $19.86
Slippage, 4 orders: −$234.76
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$238.9
Costs to cover: 2.588%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 30 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	43.04 bp	57.9 bp −$58	86.8 bp −$868	doesn't fit	doesn't fit
Sell Phemex live order book, 30 min ago	7.72 bp	69.4 bp −$69	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 MARAUSDC	−0.0470%	4h	13.178	+0.089%	$15K	$311K	10x	as long as short
Binance MARAUSDT	0.0000%	8h	13.170	+0.030%	$175K	$481K	20x	as long as short
Bybit MARAUSDT	0.0000%	8h	13.160	−0.046%	$261K	$136K	25x	as long as short
OKX MARA-USDT-SWAP	0.0000%	8h	13.150	−0.122%	$60K	$184K	20x	as long as short
Gate MARA_USDT	0.0000%	8h	13.211	+0.342%	$30K	$13K	20x	as long as short
Bitget MARAUSDTlong	0.0000%	8h	13.166	long leg	$88K	$2.7M	20x
HTX MARA-USDT	0.0000%	8h	13.180	+0.106%	$5K	$253K	20x	as long as short
Phemex MARAUSDTshort	0.0000%	8h	13.190	+0.182%	$378K	$38K	20x
Extended MARA-USD	+0.0040%	1h	13.175	+0.068%	$1K	—	5x	as long as short
KuCoin MARAUSDTM	+0.0100%	8h	13.174	+0.061%	$26K	$2.9M	20x	as long as short