Funding you earn now, next payment 05:00 UTC−0.0144%/8h= −15.8% APRnext payment −$0.18 per $10,000 · paid last 24h −0.069%
Price spread now: Arcus against Phoenix−0.168%49s7-day average — · you buy dearer than you sell
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
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Arcus is 0.168% cheaper against Phoenix than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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 | Phoenix MRNA | 172.73 | 0.0185 | pay 0.0023% / 1h | 58m 03s | $5K | $191K | 10x |
| Short | Arcus MRNA-USD | 172.44 | 0.0040 | get 0.0005% / 1h | 58m 03s | $2K | $65K | 10x |
Phoenix MRNA
Arcus MRNA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- −$30.33
- Price spread: −0.168% → 0.000%
- −$16.79
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$58.62
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 43 min ago; Arcus: no order-book sample. 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 Phoenix live order book, 43 min ago | 4.04 bp | 22.1 bp −$22 | 91.4 bp −$914 | doesn't fit | doesn't fit |
| Sell Arcus no order-book sample | — | — | — | — | — |
Arcus: 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 | −0.0572% | 4h | 172.62 | −0.062% | $3K | $249K | 10x | as long as short |
| Lighter MRNA | −0.0272% | 1h | 172.78 | +0.029% | $156K | $1.2M | 10x | as long as short |
| BloFin MRNA-USDT | −0.0006% | 8h | 172.55 | −0.104% | $45K | $29K | 20x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.51 | −0.128% | $26K | $83K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.52 | −0.122% | $2.1M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.55 | −0.104% | $937K | $621K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.39 | −0.197% | $1.3M | $5.4M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.48 | −0.145% | $861K | $994K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.45 | −0.162% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.62 | −0.065% | $56K | $96K | — | as long as short |
edgeX MRNAUSDC
Lighter MRNA
BloFin MRNA-USDT
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNAShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.59 | −0.081% | $3 | $147K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.36 | −0.215% | $14K | $431K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.50 | −0.133% | $1.6M | $654K | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.53 | −0.116% | $1.1M | $2.5M | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.169% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USDshort | +0.0040% | 1h | 172.44 | −0.168% | $2K | $65K | 10x | |
| Extended MRNA-USD | +0.0048% | 1h | 172.36 | −0.215% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.41 | −0.185% | $2.5M | $4.5M | 10x | as long as short |
| SoDEX MRNA-USD | +0.0050% | 1h | 172.46 | −0.156% | $40K | $56K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.57 | −0.093% | $43K | $35K | 5x | as long as short |
| Phoenix MRNAlong | +0.0185% | 1h | 172.73 | long leg | $5K | $191K | 10x |
GRVT MRNA_USDT_Perp
HTX MRNA-USDT
Phemex MRNAUSDT
QFEX MRNA-USD
Injective MRNA/USDC PERP
Extended MRNA-USD
tradeXYZ xyz:MRNA
SoDEX MRNA-USD
Ondo Perps MRNA-USD.P