Funding arb · Price arb /

MARA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0639%/8h= −70.0% APRpaid last 24h +0.097%

Price spread now: Binance against edgeX+0.246%110s7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as 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−$1621.624% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.259%+$26 on $10k

Price spread, last 2 days (all we have)−0.139%−$14 · spread now +0.246%, 7d avg −0.005%

Together, before fees+0.120%+ Points / potential airdropedgeX: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.252% dearer against edgeX than usual: you sell high and buy low (spread +0.246% now, against its 7-day average of −0.005%): +$25 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 32 hours. Mind the row above: over the last 7 days funding on this pair paid +0.259%, so the current rate has only just turned against you. The two prices were read 110 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 0.259% in total (about 13.5% 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	edgeX MARAUSDC	13.094	0.0639	pay 0.0320% / 4h	2h 11m	$15K	$314K	10x
Short	Binance MARAUSDT	13.127	0	get 0.0000% / 8h	2h 11m	$177K	$473K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against edgeX. 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 edgeXbpFee BinancebpOrdersPrice spread, now +0.246%Rate

Funding earned: −$134.19
Price spread: +0.246% → −0.005%: $25.18
Slippage, 4 orders: −$143.37
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$271.39
Costs to cover: 1.624%
Break-even: never at this rate

Slippage from edgeX: live order book, 36 min ago; Binance: live order book, 20 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 edgeX live order book, 36 min ago	15.23 bp	54.8 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 20 min ago	7.66 bp	33.8 bp −$34	95.0 bp −$950	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
Bitget MARAUSDT	−0.0306%	8h	13.092	−0.018%	$97K	$2.9M	20x	as long as short
Binance MARAUSDTshort	0.0000%	8h	13.127	+0.246%	$177K	$473K	20x
Bybit MARAUSDT	0.0000%	8h	13.140	+0.348%	$258K	$137K	25x	as long as short
OKX MARA-USDT-SWAP	0.0000%	8h	13.100	+0.043%	$60K	$186K	20x	as long as short
Gate MARA_USDT	0.0000%	8h	13.119	+0.188%	$30K	$22K	20x	as long as short
HTX MARA-USDT	0.0000%	8h	13.110	+0.119%	$5K	$264K	20x	as long as short
Phemex MARAUSDT	0.0000%	8h	13.110	+0.119%	$375K	$38K	20x	as long as short
Extended MARA-USD	+0.0040%	1h	13.321	+1.731%	$1K	—	5x	as long as short
KuCoin MARAUSDTM	+0.0100%	8h	13.123	+0.219%	$31K	$2.9M	20x	as long as short
edgeX MARAUSDClong	+0.0639%	4h	13.094	long leg	$15K	$314K	10x