Funding arb · Price arb /

MRVL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Bybit−0.067%47s7-day average −0.037% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$13 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.067%, 7d avg −0.037%

Together, before fees+0.119%+ Points / potential airdropOndo Perps: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.030% cheaper against Bybit than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.037%). If the spread goes back, that is −$3 on $10k: about 48 hours of funding at the current rate (+$2 a day). The two prices were read 47 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	Bybit MRVLUSDT	255.26	0	get 0.0000% / 8h	1h 49m	$5.0M	$4.0M	50x
Short	Ondo Perps MRVL-USD.P	255.09	0.0050	get 0.0006% / 1h	49m 54s	$554K	$775K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee Ondo PerpsbpOrdersPrice spread, now −0.067%Rate

Funding earned: $10.58
Price spread: −0.067% → −0.037%: −$2.99
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$8.41
Costs to cover: 0.160%
Break-even: 12.6 days

Slippage unknown: Bybit: live order book, 3 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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 Bybit live order book, 3 min ago	1.18 bp	10.7 bp −$11	37.3 bp −$373	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MRVL on 32 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
Bitget MRVLUSDT	−0.0726%	8h	255.42	+0.063%	$5.5M	$17.1M	20x	as long as short
Aster MRVLUSDT	0.0000%	8h	255.24	−0.006%	$301K	$341K	50x	as long as short
Extended MRVL-USD	0.0000%	1h	255.23	−0.011%	$46K	$265K	10x	as long as short
Binance MRVLUSDT	0.0000%	8h	255.25	−0.004%	$23.5M	$113.2M	50x	as long as short
Bybit MRVLUSDTlong	0.0000%	8h	255.26	long leg	$5.0M	$4.0M	50x
OKX MRVL-USDT-SWAP	0.0000%	8h	255.12	−0.055%	$6.8M	$24.1M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	255.36	+0.039%	$5.2M	$8.6M	50x	as long as short
Variational Omni MRVL	0.0000%	8h	255.13	−0.050%	$709K	$481K	—	as long as short
GRVT MRVL_USDT_Perp	0.0000%	8h	254.98	−0.111%	$403	$191K	10x	as long as short
SunX MRVL-USDT	0.0000%	8h	255.19	−0.027%	$1K	$6.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRVL-USDT	0.0000%	8h	254.95	−0.121%	$131K	$47K	50x	as long as short
BloFin MRVL-USDT	+0.0001%	8h	255.06	−0.078%	$365K	$183K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0017%	1h	255.20	−0.025%	$643	$47K	10x	as long as short
Coinbase International MRVL-PERP-INTX	+0.0024%	1h	254.72	−0.212%	$324K	$642K	10x	as long as short
Deribit MRVL_USDC-PERPETUAL	+0.0024%	1h	255.31	+0.020%	$22K	$144K	10x	as long as short
Lighter MRVL	+0.0032%	1h	255.32	+0.024%	$88K	$169K	10x	as long as short
QFEX MRVL-USD	+0.0034%	1h	255.27	+0.004%	$1.1M	$3.6M	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	254.87	−0.153%	$23K	$27K	5x	as long as short
Vest MRVL-USD-PERP	+0.0046%	1h	255.42	+0.063%	—	$51K	25x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	255.39	+0.051%	$14.1M	$8.9M	10x	as long as short
Polymarket Perps MRVL-USD	+0.0050%	1h	255.16	−0.039%	$101K	$80K	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	255.22	−0.016%	$163	$15K	10x	as long as short
Ondo Perps MRVL-USD.Pshort	+0.0050%	1h	255.09	−0.067%	$554K	$775K	10x
Paradex MRVL-USD-PERP	+0.0052%	8h	255.34	+0.032%	—	—	5x	as long as short
Nado MRVL-PERP	+0.0078%	1h	254.86	−0.157%	$87K	$272K	10x	as long as short
KuCoin MRVLUSDTM	+0.0100%	8h	255.36	+0.039%	$505K	$65K	20x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	255.09	−0.067%	$4K	$140K	50x	as long as short
Orderly PERP_MRVL_USDC_mythos	+0.0100%	8h	255.33	+0.027%	$2K	$3K	10x	as long as short
Aevo MRVL-PERP	+0.0104%	1h	255.30	+0.017%	$18	—	10x	as long as short
Phoenix MRVL	+0.0156%	1h	255.02	−0.094%	$11K	$12K	10x	as long as short
Injective MRVL/USDC PERP	+0.0220%	1h	258.37	+1.218%	$11K	$840	12x	as long as short
edgeX MRVLUSDC	+0.0826%	4h	254.91	−0.136%	$36K	$374K	10x	as long as short