Funding you earn now, next payment 08:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%
Price spread now: Phemex against Injective+8.845%65s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Phemex is 8.845% dearer against Injective than usual: you sell high and buy low (spread +8.845% now, against zero (this spread has no 7-day history yet)): +$885 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about years. The two prices were read 65 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 | Injective MRNA/USDC PERP | 158.62 | 0.0033 | pay 0.0004% / 1h | 17m 45s | $18K | $8K | 12x |
| Short | Phemex MRNAUSDT | 172.65 | 0 | get 0.0000% / 8h | 17m 45s | $1.6M | $636K | 20x |
Injective MRNA/USDC PERP
Phemex MRNAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. 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
- −$7
- Price spread: +8.845% → 0.000%
- $884.5
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $865.48
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 5 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 5 min ago | 2.89 bp | 35.4 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
Injective: 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MRNAUSDC | −0.0986% | 4h | 172.68 | +8.863% | $3K | $250K | 10x | as long as short |
| Lighter MRNA | 0.0000% | 1h | 172.86 | +8.977% | $155K | $1.2M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.61 | +8.820% | $26K | $82K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.61 | +8.820% | $2.1M | $11.2M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.55 | +8.782% | $937K | $600K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.53 | +8.769% | $1.3M | $5.4M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.65 | +8.845% | $881K | $984K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.55 | +8.782% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.61 | +8.823% | $57K | $92K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.66 | +8.851% | $97 | $142K | 10x | as long as short |
edgeX MRNAUSDC
Lighter MRNA
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-USDT | 0.0000% | 8h | 172.72 | +8.892% | $14K | $430K | 20x | as long as short |
| Phemex MRNAUSDTshort | 0.0000% | 8h | 172.65 | +8.845% | $1.6M | $636K | 20x | |
| QFEX MRNA-USD | +0.0001% | 1h | 172.49 | +8.744% | $1.1M | $2.5M | 10x | as long as short |
| BloFin MRNA-USDT | +0.0003% | 8h | 172.57 | +8.795% | $45K | $29K | 20x | as long as short |
| Injective MRNA/USDC PERPlong | +0.0033% | 1h | 158.62 | long leg | $18K | $8K | 12x | |
| Arcus MRNA-USD | +0.0040% | 1h | 172.55 | +8.782% | $2K | $65K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.38 | +8.675% | $43K | $35K | 5x | as long as short |
| tradeXYZ xyz:MRNA | +0.0092% | 1h | 172.54 | +8.776% | $2.5M | $4.3M | 10x | as long as short |
| SoDEX MRNA-USD | +0.0095% | 1h | 172.52 | +8.763% | $40K | $55K | 10x | as long as short |
| Extended MRNA-USD | +0.0096% | 1h | 172.52 | +8.765% | $32K | $32K | 10x | as long as short |
| Phoenix MRNA | +0.0230% | 1h | 172.56 | +8.788% | $5K | $191K | 10x | as long as short |
HTX MRNA-USDT
QFEX MRNA-USD
BloFin MRNA-USDT
Arcus MRNA-USD
Ondo Perps MRNA-USD.P
tradeXYZ xyz:MRNA
SoDEX MRNA-USD
Extended MRNA-USD
Phoenix MRNA