Funding you earn now, next payment 05:00 UTC+0.0185%/8h= +20.2% APRpaid last 24h +0.081%
Price spread now: Phoenix against HTX+0.017%48s7-day average −0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$203as 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−$2572.567% of the position
Funding, last 7 days+0.540%+$54 on $10k
+Price spread, last 4 days (all we have)−0.182%−$18 · spread now +0.017%, 7d avg −0.007%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.024% dearer against HTX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.007%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | HTX MRNA-USDT | 172.15 | 0 | get 0.0000% / 8h | 2h 13m | $13K | $431K | 20x |
| Short | Phoenix MRNA | 172.18 | 0.0185 | get 0.0023% / 1h | 13m 30s | $5K | $191K | 10x |
HTX MRNA-USDT
Phoenix MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against HTX. 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
- $38.79
- Price spread: +0.017% → −0.007%
- $2.45
- Slippage, 4 orders
- −$237.7
- Fee HTX: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$215.46
- Costs to cover
- 2.567%
- Break-even
- 45.9 days
Slippage from HTX: live order book, 35 min ago; Phoenix: live order book, 28 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 HTX live order book, 35 min ago | 6.33 bp | 155.0 bp −$155 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 28 min ago | 4.04 bp | 24.3 bp −$24 | 77.3 bp −$773 | doesn't fit | doesn't fit |
MRNA on 21 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter MRNA | −0.1208% | 1h | 172.53 | +0.221% | $156K | $1.2M | 10x | as long as short |
| BloFin MRNA-USDT | −0.0018% | 8h | 172.11 | −0.023% | $45K | $29K | 20x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.29 | +0.079% | $26K | $83K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.42 | +0.155% | $2.1M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.35 | +0.116% | $936K | $621K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.37 | +0.128% | $1.3M | $5.4M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.35 | +0.116% | $861K | $999K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.41 | +0.151% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.33 | +0.103% | $56K | $96K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.24 | +0.051% | $2 | $148K | 10x | as long as short |
Lighter MRNA
BloFin MRNA-USDT
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNA
GRVT MRNA_USDT_PerpShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX MRNA-USDTlong | 0.0000% | 8h | 172.15 | long leg | $13K | $431K | 20x | |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.27 | +0.070% | $1.6M | $654K | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.15 | 0.000% | $1.1M | $2.5M | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −7.859% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.12 | −0.017% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.20 | +0.030% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.28 | +0.076% | $2.5M | $4.5M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.13 | −0.012% | $42K | $35K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0125% | 1h | 172.21 | +0.035% | $40K | $56K | 10x | as long as short |
| Phoenix MRNAshort | +0.0185% | 1h | 172.18 | +0.017% | $5K | $191K | 10x | |
| edgeX MRNAUSDC | +0.0794% | 4h | 172.27 | +0.071% | $3K | $249K | 10x | as long as short |
Phemex MRNAUSDT
QFEX MRNA-USD
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
SoDEX MRNA-USD
edgeX MRNAUSDC