Funding you earn now, next payment 03:00 UTC+0.0198%/8h= +21.7% APRnext payment +$0.25 per $10,000 · paid last 24h −0.026%
Price spread now: Phoenix against Lighter−0.253%7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$540.541% of the position
Funding, last 7 days+0.207%+$21 on $10k
+Price spread, last 4 days (all we have)+0.180%+$18 · spread now −0.253%, 7d avg −0.020%
=Together, before fees+0.387%+ Points / potential airdropLighter: Season 3 · farm board+$39 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.233% cheaper against Lighter than usual: you would sell low and buy high (spread −0.253% now, against its 7-day average of −0.020%). If the spread goes back, that is −$23 on $10k: about 3.9 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.207% in total) that is about 7.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MRNA | 173.83 | 0.0032 | pay 0.0004% / 1h | 20m 20s | $158K | $1.1M | 10x |
| Short | Phoenix MRNA | 173.39 | 0.0230 | get 0.0029% / 1h | 20m 20s | $5K | $191K | 10x |
Lighter MRNA
Phoenix MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- $41.64
- Price spread: −0.253% → −0.020%
- −$23.27
- Slippage, 4 orders
- −$47.13
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$35.77
- Costs to cover
- 0.541%
- Break-even
- 13.0 days
Slippage from Lighter: live order book, 1 min ago; Phoenix: live order book, 31 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 Lighter live order book, 1 min ago | 2.59 bp | 3.9 bp −$4 | 31.8 bp −$318 | 157.7 bp −$15.8K | doesn't fit |
| Sell Phoenix live order book, 31 min ago | 4.03 bp | 24.3 bp −$24 | 77.1 bp −$771 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MRNAUSDC | −0.0023% | 4h | 173.77 | −0.036% | $3K | $246K | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 173.79 | −0.021% | $28K | $82K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 173.69 | −0.081% | $946K | $615K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 173.72 | −0.063% | $1.3M | $5.2M | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 173.60 | −0.132% | $1.1M | $2.6M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 173.75 | −0.046% | $869K | $1.0M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 173.71 | −0.069% | $2.8M | $10.6M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 173.82 | −0.007% | $49K | $89K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 173.77 | −0.035% | $422 | $146K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 173.78 | −0.026% | $14K | $432K | 20x | as long as short |
edgeX MRNAUSDC
Aster MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
QFEX MRNA-USD
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNA
GRVT MRNA_USDT_Perp
HTX MRNA-USDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex MRNAUSDT | 0.0000% | 8h | 173.83 | 0.000% | $1.6M | $640K | 20x | as long as short |
| Binance MRNAUSDT | +0.0028% | 8h | 173.84 | +0.006% | $2.2M | $11.2M | 20x | as long as short |
| Lighter MRNAlong | +0.0032% | 1h | 173.83 | long leg | $158K | $1.1M | 10x | |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.750% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 173.60 | −0.132% | $2K | $63K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 173.66 | −0.095% | $32K | $32K | 10x | as long as short |
| BloFin MRNA-USDT | +0.0050% | 8h | 173.82 | −0.006% | $45K | $29K | 20x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 173.72 | −0.063% | $2.7M | $4.4M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 173.59 | −0.138% | $43K | $35K | 5x | as long as short |
| Phoenix MRNAshort | +0.0230% | 1h | 173.39 | −0.253% | $5K | $191K | 10x | |
| SoDEX MRNA-USD | +0.0403% | 1h | 173.77 | −0.035% | $40K | $56K | 10x | as long as short |
Phemex MRNAUSDT
Binance MRNAUSDT
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
BloFin MRNA-USDT
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
SoDEX MRNA-USD