Funding arb · Price arb /

MRVL

RWAall MRVL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.007%

Price spread now: Bybit against Lighter−0.062%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.062%, 7d avg +0.006%

Together, before fees+0.035%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.068% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MRVL	259.43	0.0032	pay 0.0004% / 1h	24m 24s	$96K	$213K	10x
Short	Bybit MRVLUSDT	259.27	0	get 0.0000% / 8h	24m 24s	$5.1M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$6.72
Price spread: −0.062% → +0.006%: −$6.77
Slippage, 4 orders: −$33.39
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$57.88
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from Lighter: live order book, 36 min ago; Bybit: 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 Lighter live order book, 36 min ago	2.32 bp	8.2 bp −$8	8.6 bp −$86	18.1 bp −$1,809	doesn't fit
Sell Bybit live order book, 3 min ago	1.35 bp	11.8 bp −$12	25.0 bp −$250	doesn't fit	doesn't fit

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
Aster MRVLUSDT	0.0000%	8h	259.18	−0.095%	$313K	$328K	50x	as long as short
Bybit MRVLUSDTshort	0.0000%	8h	259.27	−0.062%	$5.1M	$4.1M	50x
OKX MRVL-USDT-SWAP	0.0000%	8h	259.37	−0.023%	$7.1M	$22.5M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	259.34	−0.035%	$5.7M	$9.8M	50x	as long as short
Bitget MRVLUSDT	0.0000%	8h	259.32	−0.042%	$5.6M	$16.6M	20x	as long as short
Variational Omni MRVL	0.0000%	8h	259.30	−0.052%	$722K	$764K	—	as long as short
SunX MRVL-USDT	0.0000%	8h	259.37	−0.023%	$1K	$6.8M	10x	as long as short
HTX MRVL-USDT	0.0000%	8h	259.34	−0.035%	$131K	$59K	50x	as long as short
BloFin MRVL-USDT	+0.0006%	8h	259.31	−0.046%	$376K	$170K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0018%	1h	259.29	−0.052%	$881	$53K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MRVL-USD	+0.0024%	1h	259.32	−0.044%	$49K	$206K	10x	as long as short
Binance MRVLUSDT	+0.0025%	8h	259.37	−0.023%	$24.3M	$114.6M	50x	as long as short
Lighter MRVLlong	+0.0032%	1h	259.43	long leg	$96K	$213K	10x
QFEX MRVL-USD	+0.0038%	1h	259.39	−0.015%	$1.1M	$4.3M	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	259.09	−0.131%	$25K	$29K	5x	as long as short
Vest MRVL-USD-PERP	+0.0046%	1h	259.74	+0.119%	—	$46K	25x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	259.18	−0.096%	$14.6M	$9.1M	10x	as long as short
Polymarket Perps MRVL-USD	+0.0050%	1h	259.40	−0.012%	$108K	$83K	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	259.33	−0.039%	$176	$14K	10x	as long as short
Ondo Perps MRVL-USD.P	+0.0050%	1h	259.23	−0.077%	$587K	$932K	10x	as long as short
GRVT MRVL_USDT_Perp	+0.0055%	8h	259.31	−0.047%	$708	$226K	10x	as long as short
Deribit MRVL_USDC-PERPETUAL	+0.0059%	1h	259.33	−0.039%	$22K	$143K	10x	as long as short
Paradex MRVL-USD-PERP	+0.0064%	8h	259.31	−0.047%	—	—	5x	as long as short
Coinbase International MRVL-PERP-INTX	+0.0064%	1h	258.35	−0.416%	$319K	$767K	10x	as long as short
KuCoin MRVLUSDTM	+0.0100%	8h	259.25	−0.069%	$514K	$68K	20x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	259.18	−0.096%	$4K	$143K	50x	as long as short
Orderly PERP_MRVL_USDC_mythos	+0.0100%	8h	259.35	−0.031%	$2K	$3K	10x	as long as short
Aevo MRVL-PERP	+0.0104%	1h	259.34	−0.034%	$18	—	10x	as long as short
Nado MRVL-PERP	+0.0162%	1h	259.27	−0.060%	$88K	$316K	10x	as long as short
Phoenix MRVL	+0.0217%	1h	259.34	−0.035%	$11K	$12K	10x	as long as short
Injective MRVL/USDC PERP	+0.0220%	1h	261.85	+0.933%	$11K	$629	12x	as long as short
edgeX MRVLUSDC	+0.0504%	4h	259.37	−0.023%	$36K	$367K	10x	as long as short