Funding you earn now, next payment 23:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h −0.033%
Price spread now: tradeXYZ against Phoenix−0.035%61s7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$92as 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−$600.595% of the position
Funding, last 7 days−0.328%−$33 on $10k
+Price spread, last 3 days (all we have)+0.015%+$2 · spread now −0.035%, 7d avg −0.057%
=Together, before fees−0.313%+ Points / potential airdroptradeXYZ: Active · farm board−$31 on $10k · with fees, hour by hour
The price spread pays, funding is against you. tradeXYZ is 0.023% dearer against Phoenix than usual: you sell high and buy low (spread −0.035% now, against its 7-day average of −0.057%): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 10 hours. The two prices were read 61 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 | 172.67 | 0.0232 | pay 0.0029% / 1h | 36m 22s | $5K | $191K | 10x |
| Short | tradeXYZ xyz:MRNA | 172.61 | 0.0050 | get 0.0006% / 1h | 36m 22s | $2.6M | $4.2M | 10x |
Phoenix MRNA
tradeXYZ xyz:MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$38.15
- Price spread: −0.035% → −0.057%
- $2.25
- Slippage, 4 orders
- −$34.51
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$95.41
- Costs to cover
- 0.595%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 36 min ago; tradeXYZ: 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, 36 min ago | 2.90 bp | 16.4 bp −$16 | 63.6 bp −$636 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 2 min ago | 1.16 bp | 10.2 bp −$10 | 16.3 bp −$163 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MRNAUSDC | −0.0784% | 4h | 172.74 | +0.041% | $3K | $244K | 10x | as long as short |
| BloFin MRNA-USDT | −0.0022% | 8h | 172.84 | +0.098% | $44K | $29K | 20x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.54 | −0.078% | $29K | $81K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.76 | +0.052% | $2.2M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.70 | +0.017% | $933K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.76 | +0.052% | $1.4M | $5.0M | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.62 | −0.029% | $1.1M | $2.7M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.64 | −0.017% | $879K | $1.1M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.63 | −0.023% | $2.6M | $10.4M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.64 | −0.020% | $49K | $89K | — | as long as short |
edgeX MRNAUSDC
BloFin MRNA-USDT
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
QFEX MRNA-USD
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 | 172.76 | +0.051% | $624 | $165K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.65 | −0.013% | $12K | $429K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.77 | +0.058% | $1.6M | $645K | 20x | as long as short |
| Lighter MRNA | +0.0032% | 1h | 172.64 | −0.017% | $124K | $1.0M | 10x | 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 | 172.50 | −0.098% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.60 | −0.040% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNAshort | +0.0050% | 1h | 172.61 | −0.035% | $2.6M | $4.2M | 10x | |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.63 | −0.023% | $43K | $39K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0125% | 1h | 172.66 | −0.006% | $40K | $66K | 10x | as long as short |
| Phoenix MRNAlong | +0.0232% | 1h | 172.67 | long leg | $5K | $191K | 10x |
GRVT MRNA_USDT_Perp
HTX MRNA-USDT
Phemex MRNAUSDT
Lighter MRNA
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
Ondo Perps MRNA-USD.P
SoDEX MRNA-USD