Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.040%
Price spread now: tradeXYZ against Phemex−0.097%7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs−$108as in the Price arb table
costs, in and out, $10k−$1041.035% of the position
Funding, last 7 days+0.213%+$21 on $10k
+Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.097%, 7d avg −0.057%
=Together, before fees+0.178%+ Points / potential airdroptradeXYZ: Active · farm board+$18 on $10k · with fees, hour by hour
Funding pays, the price is against you. tradeXYZ is 0.040% cheaper against Phemex than usual: you would sell low and buy high (spread −0.097% now, against its 7-day average of −0.057%). If the spread goes back, that is −$4 on $10k: about 2.7 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.213% in total) that is about 32 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MRNAUSDT | 174.41 | 0 | get 0.0000% / 8h | 3h 39m | $1.6M | $644K | 20x |
| Short | tradeXYZ xyz:MRNA | 174.24 | 0.0050 | get 0.0006% / 1h | 39m 36s | $2.7M | $4.5M | 10x |
Phemex MRNAUSDT
tradeXYZ xyz:MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- $10.5
- Price spread: −0.097% → −0.057%
- −$4.02
- Slippage, 4 orders
- −$73.54
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$97.06
- Costs to cover
- 1.035%
- Break-even
- 71.7 days
Slippage from Phemex: live order book, 3 min ago; tradeXYZ: live order book, 9 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, 3 min ago | 2.29 bp | 39.1 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 9 min ago | 1.43 bp | 13.7 bp −$14 | 18.0 bp −$180 | 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 | −0.0833% | 4h | 174.44 | +0.019% | $3K | $246K | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 174.22 | −0.106% | $28K | $82K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 174.47 | +0.034% | $951K | $616K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 174.30 | −0.063% | $1.3M | $5.3M | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 174.24 | −0.097% | $1.1M | $2.6M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 174.35 | −0.034% | $871K | $997K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 174.19 | −0.126% | $2.8M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 174.48 | +0.043% | $55K | $94K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 174.41 | 0.000% | $579 | $147K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 174.47 | +0.033% | $14K | $431K | 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 MRNAUSDTlong | 0.0000% | 8h | 174.41 | long leg | $1.6M | $644K | 20x | |
| BloFin MRNA-USDT | +0.0002% | 8h | 174.46 | +0.029% | $45K | $29K | 20x | as long as short |
| Binance MRNAUSDT | +0.0013% | 8h | 174.37 | −0.023% | $2.2M | $11.3M | 20x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −9.053% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 174.20 | −0.120% | $2K | $64K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 174.22 | −0.109% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNAshort | +0.0050% | 1h | 174.24 | −0.097% | $2.7M | $4.5M | 10x | |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 174.37 | −0.023% | $43K | $35K | 5x | as long as short |
| Phoenix MRNA | +0.0277% | 1h | 174.42 | +0.006% | $5K | $191K | 10x | as long as short |
| SoDEX MRNA-USD | +0.0473% | 1h | 174.33 | −0.046% | $40K | $56K | 10x | as long as short |
| Lighter MRNA | +0.0744% | 1h | 174.48 | +0.040% | $158K | $1.1M | 10x | as long as short |
BloFin MRNA-USDT
Binance MRNAUSDT
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
Ondo Perps MRNA-USD.P
Phoenix MRNA
SoDEX MRNA-USD
Lighter MRNA