Funding you earn now, next payment 01:00 UTC−0.0279%/8h= −30.5% APRnext payment −$0.35 per $10,000 · paid last 24h −0.086%
Price spread now: QFEX against Phoenix−0.023%52s7-day average −0.269% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$630.629% of the position
Funding, last 3 days (all we have)−0.176%−$18 on $10k
+Price spread, last 4 days (all we have)−0.379%−$38 · spread now −0.023%, 7d avg −0.269%
=The price spread pays, funding is against you. QFEX is 0.245% dearer against Phoenix than usual: you sell high and buy low (spread −0.023% now, against its 7-day average of −0.269%): +$25 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.9 days. The two prices were read 52 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 | 172.32 | 0.0279 | pay 0.0035% / 1h | 44m 32s | $5K | $193K | 10x |
| Short | QFEX MRNA-USD | 172.28 | 0.0000 | pay 0.0000% / 1h | 44m 32s | $1.2M | $2.7M | 10x |
Phoenix MRNA
QFEX MRNA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$58.56
- Price spread: −0.023% → −0.269%
- $24.54
- Slippage, 4 orders
- −$45.87
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$96.88
- Costs to cover
- 0.629%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 17 min ago; QFEX: live order book, 3 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, 17 min ago | 4.07 bp | 22.2 bp −$22 | 91.5 bp −$915 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 3 min ago | 1.16 bp | 9.6 bp −$10 | 14.5 bp −$145 | 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 | −0.0720% | 1h | 172.35 | +0.017% | $109K | $1.1M | 10x | as long as short |
| edgeX MRNAUSDC | −0.0121% | 4h | 172.37 | +0.031% | $3K | $246K | 10x | as long as short |
| QFEX MRNA-USDshort | 0.0000% | 1h | 172.28 | −0.023% | $1.2M | $2.7M | 10x | |
| Aster MRNAUSDT | 0.0000% | 8h | 172.30 | −0.009% | $28K | $81K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.28 | −0.023% | $934K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.38 | +0.035% | $1.3M | $5.2M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.25 | −0.041% | $862K | $1.0M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.23 | −0.052% | $2.6M | $10.6M | 20x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.41 | +0.055% | $12K | $428K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.29 | −0.017% | $1.6M | $648K | 20x | as long as short |
Lighter MRNA
edgeX MRNAUSDC
Aster MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
HTX MRNA-USDT
Phemex MRNAUSDTShow 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 | −7.950% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.25 | −0.041% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.21 | −0.063% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.23 | −0.052% | $2.6M | $4.4M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.20 | −0.070% | $43K | $39K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0053% | 1h | 172.21 | −0.064% | $40K | $66K | 10x | as long as short |
| Variational Omni MRNA | +0.0099% | 8h | 172.39 | +0.040% | $49K | $89K | — | as long as short |
| GRVT MRNA_USDT_Perp | +0.0114% | 8h | 172.43 | +0.062% | $400 | $153K | 10x | as long as short |
| Binance MRNAUSDT | +0.0127% | 8h | 172.38 | +0.037% | $2.1M | $11.5M | 20x | as long as short |
| BloFin MRNA-USDT | +0.0133% | 8h | 172.49 | +0.099% | $45K | $29K | 20x | as long as short |
| Phoenix MRNAlong | +0.0279% | 1h | 172.32 | long leg | $5K | $193K | 10x |
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
SoDEX MRNA-USD
Variational Omni MRNA
GRVT MRNA_USDT_Perp
Binance MRNAUSDT
BloFin MRNA-USDT