Funding arb · Price arb /

MARA

RWAall MARA markets

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 0.000%

Price spread now: Binance against Phemex−0.154%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$1951.954% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 2 days (all we have)+0.417%+$42 · spread now −0.154%, 7d avg +0.039%

Together, before fees+0.417%+$42 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: Binance is 0.193% cheaper against Phemex than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MARAUSDT	13.010	0	get 0.0000% / 8h	7h 44m	$372K	$38K	20x
Short	Binance MARAUSDT	12.990	0	get 0.0000% / 8h	7h 44m	$175K	$479K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.154%Rate

Funding earned: $0
Price spread: −0.154% → +0.039%: −$19.26
Slippage, 4 orders: −$173.4
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$214.66
Costs to cover: 1.954%
Break-even: never at this rate

Slippage from Phemex: live order book, 53 min ago; Binance: live order book, 18 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 Phemex live order book, 53 min ago	7.64 bp	74.3 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 18 min ago	3.83 bp	31.7 bp −$32	85.3 bp −$853	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	−0.0067%	4h	13.021	+0.088%	$15K	$312K	10x	as long as short
Bitget MARAUSDT	−0.0041%	8h	12.980	−0.231%	$90K	$2.8M	20x	as long as short
Binance MARAUSDTshort	0.0000%	8h	12.990	−0.154%	$175K	$479K	20x
Bybit MARAUSDT	0.0000%	8h	13.000	−0.077%	$263K	$142K	25x	as long as short
OKX MARA-USDT-SWAP	0.0000%	8h	12.990	−0.154%	$60K	$184K	20x	as long as short
Gate MARA_USDT	0.0000%	8h	13.020	+0.077%	$30K	$13K	20x	as long as short
HTX MARA-USDT	0.0000%	8h	13.020	+0.077%	$5K	$255K	20x	as long as short
Phemex MARAUSDTlong	0.0000%	8h	13.010	long leg	$372K	$38K	20x
Extended MARA-USD	+0.0040%	1h	12.980	−0.231%	$1K	—	5x	as long as short
KuCoin MARAUSDTM	+0.0100%	8h	13.019	+0.069%	$25K	$2.9M	20x	as long as short