Funding arb · Price arb /

MARA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Phemex−0.076%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$383as in the Funding arb table

Net, price: spread back to 7d avg − costs−$394as in the Price arb table

costs, in and out, $10k−$3833.827% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.076%, 7d avg +0.034%

Together, before fees−0.018%−$2 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: OKX is 0.110% cheaper against Phemex than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MARAUSDT	13.130	0	get 0.0000% / 8h	2h 06m	$375K	$38K	20x
Short	OKX MARA-USDT-SWAP	13.120	0	get 0.0000% / 8h	2h 06m	$60K	$186K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.076%Rate

Funding earned: $0
Price spread: −0.076% → +0.034%: −$11.04
Slippage, 4 orders: −$360.68
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$393.72
Costs to cover: 3.827%
Break-even: never at this rate

Slippage from Phemex: live order book, 41 min ago; OKX: live order book, 38 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, 41 min ago	3.80 bp	68.9 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 38 min ago	3.81 bp	106.2 bp −$106	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
Bitget MARAUSDT	−0.0280%	8h	13.111	−0.145%	$97K	$2.9M	20x	as long as short
Binance MARAUSDT	0.0000%	8h	13.125	−0.038%	$177K	$473K	20x	as long as short
Bybit MARAUSDT	0.0000%	8h	13.140	+0.076%	$258K	$137K	25x	as long as short
OKX MARA-USDT-SWAPshort	0.0000%	8h	13.120	−0.076%	$60K	$186K	20x
Gate MARA_USDT	0.0000%	8h	13.147	+0.129%	$30K	$22K	20x	as long as short
HTX MARA-USDT	0.0000%	8h	13.130	0.000%	$5K	$265K	20x	as long as short
Phemex MARAUSDTlong	0.0000%	8h	13.130	long leg	$375K	$38K	20x
Extended MARA-USD	+0.0040%	1h	13.321	+1.455%	$1K	—	5x	as long as short
edgeX MARAUSDC	+0.0091%	4h	13.117	−0.095%	$15K	$312K	10x	as long as short
KuCoin MARAUSDTM	+0.0100%	8h	13.133	+0.023%	$30K	$2.9M	20x	as long as short