Funding arb · Price arb /

MARA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0832%/8h= −91.2% APRpaid last 24h −0.097%

Price spread now: edgeX against OKX+0.110%71s7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$344as 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−$3183.177% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.146%−$15 · spread now +0.110%, 7d avg −0.021%

Together, before fees−0.405%+ Points / potential airdropedgeX: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.131% dearer against OKX than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of −0.021%): +$13 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.259% in total) that is about 3.5 days. The two prices were read 71 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	OKX MARA-USDT-SWAP	13.120	0	get 0.0000% / 8h	2h 02m	$60K	$186K	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 OKX. 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 OKXbpFee edgeXbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$174.82
Price spread: +0.110% → −0.021%: $13.11
Slippage, 4 orders: −$298.69
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$479.41
Costs to cover: 3.177%
Break-even: never at this rate

Slippage from OKX: live order book, 43 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 OKX live order book, 43 min ago	3.81 bp	105.3 bp −$105	doesn't fit	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	+0.110%	$15K	$313K	10x
Bitget MARAUSDT	−0.0266%	8h	13.113	−0.053%	$97K	$2.9M	20x	as long as short
Binance MARAUSDT	0.0000%	8h	13.125	+0.038%	$177K	$474K	20x	as long as short
Bybit MARAUSDT	0.0000%	8h	13.120	0.000%	$257K	$137K	25x	as long as short
OKX MARA-USDT-SWAPlong	0.0000%	8h	13.120	long leg	$60K	$186K	20x
Gate MARA_USDT	0.0000%	8h	13.152	+0.244%	$30K	$23K	20x	as long as short
HTX MARA-USDT	0.0000%	8h	13.110	−0.076%	$5K	$264K	20x	as long as short
Phemex MARAUSDT	0.0000%	8h	13.140	+0.152%	$375K	$38K	20x	as long as short
Extended MARA-USD	+0.0040%	1h	13.321	+1.532%	$1K	—	5x	as long as short
KuCoin MARAUSDTM	+0.0100%	8h	13.141	+0.160%	$30K	$2.9M	20x	as long as short