Funding you earn now, next payment 01:00 UTC−0.0279%/8h= −30.5% APRpaid last 24h −0.086%
Price spread now: OKX against Phoenix−0.139%66s7-day average −0.050% · you buy dearer than you sell
Net, funding: paid 7d − costs−$149as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$950.950% of the position
Funding, last 7 days−0.540%−$54 on $10k
+Price spread, last 4 days (all we have)−0.126%−$13 · spread now −0.139%, 7d avg −0.050%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and OKX is 0.089% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.050%). Swap the legs. The two prices were read 66 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 | 172.33 | 0.0279 | pay 0.0035% / 1h | 40m 27s | $5K | $193K | 10x |
| Short | OKX MRNA-USDT-SWAP | 172.09 | 0 | get 0.0000% / 8h | 6h 40m | $1.3M | $5.2M | 20x |
Phoenix MRNA
OKX MRNA-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$58.51
- Price spread: −0.139% → −0.050%
- −$8.93
- Slippage, 4 orders
- −$77.96
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$162.4
- Costs to cover
- 0.950%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 21 min ago; OKX: 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, 21 min ago | 4.07 bp | 22.2 bp −$22 | 91.5 bp −$915 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 3.20 bp | 25.3 bp −$25 | 128.8 bp −$1,288 | 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 | −0.0712% | 1h | 172.22 | −0.064% | $109K | $1.1M | 10x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.13 | −0.116% | $1.2M | $2.7M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.18 | −0.086% | $28K | $81K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.08 | −0.145% | $933K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAPshort | 0.0000% | 8h | 172.09 | −0.139% | $1.3M | $5.2M | 20x | |
| Gate MRNA_USDT | 0.0000% | 8h | 172.20 | −0.075% | $861K | $1.0M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.02 | −0.180% | $2.6M | $10.6M | 20x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.07 | −0.150% | $12K | $429K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.18 | −0.087% | $1.6M | $649K | 20x | as long as short |
| edgeX MRNAUSDC | +0.0027% | 4h | 172.34 | +0.007% | $3K | $245K | 10x | as long as short |
Lighter MRNA
QFEX MRNA-USD
Aster MRNAUSDT
Bybit MRNAUSDT
Gate MRNA_USDT
Bitget MRNAUSDT
HTX MRNA-USDT
Phemex MRNAUSDT
edgeX MRNAUSDCShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −7.956% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.13 | −0.116% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.05 | −0.160% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.05 | −0.162% | $2.6M | $4.4M | 10x | as long as short |
| SoDEX MRNA-USD | +0.0050% | 1h | 172.13 | −0.116% | $40K | $66K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.15 | −0.104% | $43K | $39K | 5x | as long as short |
| GRVT MRNA_USDT_Perp | +0.0057% | 8h | 172.26 | −0.043% | $224 | $154K | 10x | as long as short |
| Variational Omni MRNA | +0.0091% | 8h | 172.16 | −0.100% | $49K | $89K | — | as long as short |
| Binance MRNAUSDT | +0.0121% | 8h | 172.14 | −0.110% | $2.1M | $11.4M | 20x | as long as short |
| BloFin MRNA-USDT | +0.0133% | 8h | 172.49 | +0.093% | $45K | $29K | 20x | as long as short |
| Phoenix MRNAlong | +0.0279% | 1h | 172.33 | long leg | $5K | $193K | 10x |
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
SoDEX MRNA-USD
Ondo Perps MRNA-USD.P
GRVT MRNA_USDT_Perp
Variational Omni MRNA
Binance MRNAUSDT
BloFin MRNA-USDT