Funding you earn now, next payment 05:00 UTC−0.0185%/8h= −20.2% APRpaid last 24h −0.081%
Price spread now: Phemex against Phoenix−0.081%7-day average +0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$175as in the Funding arb table
Net, price: spread back to 7d avg − costs−$129as 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 against this trade now: funding costs −$6 a day on $10k at the current rate, and Phemex is 0.085% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.004%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MRNA | 172.67 | 0.0185 | pay 0.0023% / 1h | 30m 34s | $5K | $191K | 10x |
| Short | Phemex MRNAUSDT | 172.53 | 0 | get 0.0000% / 8h | 2h 30m | $1.6M | $652K | 20x |
Phoenix MRNA
Phemex MRNAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$38.79
- Price spread: −0.081% → +0.004%
- −$8.48
- Slippage, 4 orders
- −$101.72
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$167.99
- Costs to cover
- 1.207%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 11 min ago; Phemex: 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, 11 min ago | 4.04 bp | 22.1 bp −$22 | 91.4 bp −$914 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 2.90 bp | 33.3 bp −$33 | doesn't fit | 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 | 172.71 | +0.023% | $156K | $1.2M | 10x | as long as short |
| edgeX MRNAUSDC | −0.0001% | 4h | 172.54 | −0.077% | $3K | $248K | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.44 | −0.133% | $26K | $83K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.41 | −0.152% | $2.1M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.41 | −0.151% | $937K | $620K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.42 | −0.145% | $1.3M | $5.4M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.52 | −0.087% | $862K | $999K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.44 | −0.133% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.49 | −0.105% | $55K | $96K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.56 | −0.064% | $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 | −0.208% | $14K | $431K | 20x | as long as short |
| Phemex MRNAUSDTshort | 0.0000% | 8h | 172.53 | −0.081% | $1.6M | $652K | 20x | |
| QFEX MRNA-USD | 0.0000% | 1h | 172.29 | −0.220% | $1.1M | $2.5M | 10x | as long as short |
| BloFin MRNA-USDT | +0.0024% | 8h | 172.54 | −0.075% | $45K | $29K | 20x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.137% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.38 | −0.168% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.23 | −0.255% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.26 | −0.237% | $2.5M | $4.6M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.56 | −0.064% | $42K | $35K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0089% | 1h | 172.49 | −0.104% | $40K | $56K | 10x | as long as short |
| Phoenix MRNAlong | +0.0185% | 1h | 172.67 | long leg | $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