Funding you earn now, next payment 04:00 UTC−0.0352%/8h= −38.5% APRpaid last 24h −0.024%
Price spread now: Phemex against edgeX+0.200%78s7-day average +0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$149as 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−$1261.260% of the position
Funding, last 7 days−0.229%−$23 on $10k
+Price spread, last 4 days (all we have)−0.177%−$18 · spread now +0.200%, 7d avg +0.024%
=Together, before fees−0.407%+ Points / potential airdropedgeX: Active · farm board−$41 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.176% dearer against edgeX than usual: you sell high and buy low (spread +0.200% now, against its 7-day average of +0.024%): +$18 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 40 hours. At the pace of the last 7 days (−0.229% in total) that is about 5.4 days. The two prices were read 78 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 -0.229% in total (about -12.0% 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 MRKUSDC | 149.16 | 0.0352 | pay 0.0176% / 4h | 17m 49s | $786 | $207K | 10x |
| Short | Phemex MRKUSDT | 149.46 | 0 | get 0.0000% / 8h | 4h 17m | $129K | $17K | 20x |
edgeX MRKUSDC
Phemex MRKUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against edgeX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$73.89
- Price spread: +0.200% → +0.024%
- $17.56
- Slippage, 4 orders
- −$104.98
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$182.3
- Costs to cover
- 1.260%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 39 min ago; Phemex: live order book, 39 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, 39 min ago | 5.37 bp | 19.6 bp −$20 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 39 min ago | 5.03 bp | 43.4 bp −$43 | doesn't fit | doesn't fit | doesn't fit |
MRK on 9 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 | |
|---|---|---|---|---|---|---|---|---|
| Binance MRKUSDT | 0.0000% | 8h | 149.31 | +0.099% | $82K | $176K | 20x | as long as short |
| Bybit MRKUSDT | 0.0000% | 8h | 148.89 | −0.182% | $124K | $75K | 25x | as long as short |
| OKX MRK-USDT-SWAP | 0.0000% | 8h | 149.02 | −0.095% | $36K | $34K | 20x | as long as short |
| Gate MRK_USDT | 0.0000% | 8h | 149.22 | +0.039% | $85K | $20K | 20x | as long as short |
| Bitget MRKUSDT | 0.0000% | 8h | 149.08 | −0.055% | $157K | $59K | 20x | as long as short |
| Phemex MRKUSDTshort | 0.0000% | 8h | 149.46 | +0.200% | $129K | $17K | 20x | |
| BloFin MRK-USDT | +0.0025% | 8h | 149.07 | −0.061% | $41K | $11K | 20x | as long as short |
| HTX MRK-USDT | +0.0100% | 8h | 149.13 | −0.021% | $5K | $349K | 20x | as long as short |
| edgeX MRKUSDClong | +0.0352% | 4h | 149.16 | long leg | $786 | $207K | 10x |
Binance MRKUSDT
Bybit MRKUSDT
OKX MRK-USDT-SWAP
Gate MRK_USDT
Bitget MRKUSDT
BloFin MRK-USDT
HTX MRK-USDT