Funding you earn now, next payment 05:00 UTC+0.0185%/8h= +20.2% APRpaid last 24h +0.081%
Price spread now: Phoenix against Phemex+0.081%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$112as in the Price arb table
costs, in and out, $10k−$1211.207% of the position
Funding, last 7 days+0.540%+$54 on $10k
+Price spread, last 4 days (all we have)−0.239%−$24 · spread now +0.081%, 7d avg −0.004%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.085% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.004%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MRNAUSDT | 172.53 | 0 | get 0.0000% / 8h | 2h 31m | $1.6M | $652K | 20x |
| Short | Phoenix MRNA | 172.67 | 0.0185 | get 0.0023% / 1h | 31m 01s | $5K | $191K | 10x |
Phemex MRNAUSDT
Phoenix MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Phemex. 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: +0.081% → −0.004%
- $8.49
- Slippage, 4 orders
- −$101.72
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$73.44
- Costs to cover
- 1.207%
- Break-even
- 20.3 days
Slippage from Phemex: live order book, 2 min ago; Phoenix: live order book, 11 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, 2 min ago | 2.90 bp | 41.0 bp −$41 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 11 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 | −0.1096% | 1h | 172.74 | +0.122% | $156K | $1.2M | 10x | as long as short |
| edgeX MRNAUSDC | −0.0001% | 4h | 172.54 | +0.004% | $3K | $248K | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.47 | −0.033% | $26K | $83K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.48 | −0.029% | $2.1M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.45 | −0.046% | $937K | $620K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.40 | −0.075% | $1.3M | $5.4M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.53 | 0.000% | $862K | $999K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.51 | −0.012% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.49 | −0.024% | $55K | $96K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.56 | +0.017% | $599 | $148K | 10x | as long as short |
Lighter MRNA
edgeX MRNAUSDC
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 | 172.31 | −0.128% | $14K | $431K | 20x | as long as short |
| Phemex MRNAUSDTlong | 0.0000% | 8h | 172.53 | long leg | $1.6M | $652K | 20x | |
| QFEX MRNA-USD | 0.0000% | 1h | 172.53 | 0.000% | $1.1M | $2.5M | 10x | as long as short |
| BloFin MRNA-USDT | +0.0024% | 8h | 172.54 | +0.006% | $45K | $29K | 20x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.062% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.43 | −0.058% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.28 | −0.145% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.30 | −0.133% | $2.5M | $4.6M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.56 | +0.017% | $42K | $35K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0089% | 1h | 172.49 | −0.023% | $40K | $56K | 10x | as long as short |
| Phoenix MRNAshort | +0.0185% | 1h | 172.67 | +0.081% | $5K | $191K | 10x |
HTX MRNA-USDT
QFEX MRNA-USD
BloFin MRNA-USDT
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
SoDEX MRNA-USD