Funding arb · Price arb /

MARA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Extended against Phemex+1.377%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 1.377% dearer against Phemex than usual: you sell high and buy low: +$138 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MARAUSDT	13.140	0	get 0.0000% / 8h	2h 02m	$375K	$38K	20x
Short	Extended MARA-USD	13.321	0.0040	get 0.0005% / 1h	2m 25s	$1K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +1.377%Rate

Funding earned: $8.4
Price spread: +1.377% → 0.000%: $137.75
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $129.15
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Phemex: live order book, 45 min ago; Extended: no order-book sample. Net counts fees only.

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, 45 min ago	3.80 bp	68.9 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0832%	4h	13.134	−0.043%	$15K	$313K	10x	as long as short
Bitget MARAUSDT	−0.0266%	8h	13.113	−0.205%	$97K	$2.9M	20x	as long as short
Binance MARAUSDT	0.0000%	8h	13.125	−0.115%	$177K	$474K	20x	as long as short
Bybit MARAUSDT	0.0000%	8h	13.120	−0.152%	$257K	$137K	25x	as long as short
OKX MARA-USDT-SWAP	0.0000%	8h	13.120	−0.152%	$60K	$186K	20x	as long as short
Gate MARA_USDT	0.0000%	8h	13.152	+0.091%	$30K	$23K	20x	as long as short
HTX MARA-USDT	0.0000%	8h	13.110	−0.228%	$5K	$264K	20x	as long as short
Phemex MARAUSDTlong	0.0000%	8h	13.140	long leg	$375K	$38K	20x
Extended MARA-USDshort	+0.0040%	1h	13.321	+1.377%	$1K	—	5x
KuCoin MARAUSDTM	+0.0100%	8h	13.141	+0.008%	$30K	$2.9M	20x	as long as short