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: Lighter against Phoenix−0.023%7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as 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)+0.097%+$10 · spread now −0.023%, 7d avg +0.020%
=Together, before fees−0.111%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Lighter is 0.043% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.020%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MRNA | 173.81 | 0.0230 | pay 0.0029% / 1h | 19m 06s | $5K | $191K | 10x |
| Short | Lighter MRNA | 173.77 | 0.0032 | get 0.0004% / 1h | 19m 06s | $157K | $1.1M | 10x |
Phoenix MRNA
Lighter MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$41.64
- Price spread: −0.023% → +0.020%
- −$4.34
- Slippage, 4 orders
- −$47.13
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$100.11
- Costs to cover
- 0.541%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 32 min ago; Lighter: live order book, 2 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 Phoenix live order book, 32 min ago | 4.03 bp | 22.0 bp −$22 | 91.3 bp −$913 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 2.59 bp | 4.0 bp −$4 | 30.4 bp −$304 | 192.4 bp −$19.2K | 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 | −0.025% | $3K | $246K | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 173.75 | −0.033% | $28K | $82K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 173.54 | −0.155% | $945K | $615K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 173.48 | −0.190% | $1.3M | $5.2M | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 173.39 | −0.242% | $1.1M | $2.6M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 173.64 | −0.098% | $868K | $1.0M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 173.61 | −0.115% | $2.8M | $10.6M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 173.82 | +0.005% | $49K | $89K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 173.77 | −0.024% | $422 | $146K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 173.62 | −0.108% | $13K | $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 | 173.60 | −0.121% | $1.6M | $640K | 20x | as long as short |
| Binance MRNAUSDT | +0.0031% | 8h | 173.62 | −0.109% | $2.2M | $11.2M | 20x | as long as short |
| Lighter MRNAshort | +0.0032% | 1h | 173.77 | −0.023% | $157K | $1.1M | 10x | |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.739% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 173.61 | −0.115% | $2K | $63K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 173.52 | −0.164% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 173.53 | −0.161% | $2.7M | $4.4M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 173.59 | −0.127% | $43K | $35K | 5x | as long as short |
| BloFin MRNA-USDT | +0.0055% | 8h | 173.92 | +0.063% | $45K | $29K | 20x | as long as short |
| Phoenix MRNAlong | +0.0230% | 1h | 173.81 | long leg | $5K | $191K | 10x | |
| SoDEX MRNA-USD | +0.0405% | 1h | 173.60 | −0.121% | $40K | $56K | 10x | as long as short |
Phemex MRNAUSDT
Binance MRNAUSDT
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
BloFin MRNA-USDT
SoDEX MRNA-USD