Funding you earn now, next payment 07:00 UTC+0.0139%/8h= +15.3% APRnext payment +$0.17 per $10,000 · paid last 24h +0.046%
Price spread now: Phoenix against tradeXYZ+0.092%101s7-day average +0.060% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as 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−$600.605% of the position
Funding, last 7 days+0.326%+$33 on $10k
+Price spread, last 4 days (all we have)+0.238%+$24 · spread now +0.092%, 7d avg +0.060%
=Together, before fees+0.563%+ Points / potential airdroptradeXYZ: Active · farm board+$56 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.032% dearer against tradeXYZ than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.060%. The two prices were read 101 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 | tradeXYZ xyz:MRNA | 173.09 | 0.0091 | pay 0.0011% / 1h | 47m 33s | $2.6M | $4.4M | 10x |
| Short | Phoenix MRNA | 173.25 | 0.0230 | get 0.0029% / 1h | 47m 33s | $5K | $191K | 10x |
tradeXYZ xyz:MRNA
Phoenix MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $29.25
- Price spread: +0.092% → +0.060%
- $3.2
- Slippage, 4 orders
- −$35.48
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$28.03
- Costs to cover
- 0.605%
- Break-even
- 13.7 days
Slippage from tradeXYZ: live order book, 10 min ago; Phoenix: live order book, 49 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 tradeXYZ live order book, 10 min ago | 1.44 bp | 12.9 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 49 min ago | 2.32 bp | 17.6 bp −$18 | 53.6 bp −$536 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster MRNAUSDT | 0.0000% | 8h | 173.11 | +0.012% | $26K | $82K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 173.28 | +0.110% | $2.1M | $11.3M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 173.26 | +0.098% | $941K | $606K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 173.20 | +0.064% | $1.3M | $5.4M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 173.27 | +0.104% | $865K | $966K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 173.31 | +0.127% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 173.19 | +0.058% | $57K | $95K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 173.26 | +0.099% | $438 | $144K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 173.28 | +0.111% | $13K | $430K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 173.37 | +0.162% | $1.6M | $641K | 20x | as long as short |
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNA
GRVT MRNA_USDT_Perp
HTX MRNA-USDT
Phemex MRNAUSDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX MRNA-USD | +0.0001% | 1h | 173.09 | 0.000% | $1.1M | $2.5M | 10x | as long as short |
| BloFin MRNA-USDT | +0.0010% | 8h | 173.16 | +0.040% | $45K | $29K | 20x | as long as short |
| Lighter MRNA | +0.0032% | 1h | 173.50 | +0.237% | $156K | $1.2M | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.360% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 173.00 | −0.052% | $2K | $65K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.95 | −0.081% | $43K | $35K | 5x | as long as short |
| tradeXYZ xyz:MRNAlong | +0.0091% | 1h | 173.09 | long leg | $2.6M | $4.4M | 10x | |
| Extended MRNA-USD | +0.0096% | 1h | 173.14 | +0.030% | $32K | $32K | 10x | as long as short |
| SoDEX MRNA-USD | +0.0142% | 1h | 173.28 | +0.110% | $40K | $56K | 10x | as long as short |
| Phoenix MRNAshort | +0.0230% | 1h | 173.25 | +0.092% | $5K | $191K | 10x | |
| edgeX MRNAUSDC | +0.0402% | 4h | 173.20 | +0.061% | $3K | $250K | 10x | as long as short |
QFEX MRNA-USD
BloFin MRNA-USDT
Lighter MRNA
Injective MRNA/USDC PERP
Arcus MRNA-USD
Ondo Perps MRNA-USD.P
Extended MRNA-USD
SoDEX MRNA-USD
edgeX MRNAUSDC