Funding arb · Price arb /

MRVL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0025%/8h= −2.8% APRpaid last 24h −0.019%

Price spread now: Orderly against Phoenix+0.075%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.075% dearer against Phoenix than usual: you sell high and buy low (spread +0.075% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MRVL	254.98	0.0125	pay 0.0016% / 1h	18m 57s	$11K	$12K	10x
Short	Orderly PERP_MRVL_USDC_mythos	255.17	0.0100	get 0.0100% / 8h	18m 57s	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Phoenix. 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 PhoenixbpFee OrderlybpOrdersPrice spread, now +0.075%Rate

Funding earned: −$5.3
Price spread: +0.075% → 0.000%: $7.45
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$10.84
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Orderly: 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 Phoenix no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Phoenix and Orderly: 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	−0.0537%	8h	255.36	+0.149%	$5.5M	$17.2M	20x	as long as short
BloFin MRVL-USDT	−0.0022%	8h	255.21	+0.090%	$367K	$188K	50x	as long as short
Coinbase International MRVL-PERP-INTX	−0.0008%	1h	254.76	−0.086%	$334K	$651K	10x	as long as short
Aster MRVLUSDT	0.0000%	8h	255.10	+0.046%	$301K	$341K	50x	as long as short
Extended MRVL-USD	0.0000%	1h	255.04	+0.025%	$50K	$308K	10x	as long as short
Binance MRVLUSDT	0.0000%	8h	255.11	+0.051%	$23.5M	$114.0M	50x	as long as short
Bybit MRVLUSDT	0.0000%	8h	255.03	+0.020%	$5.0M	$4.1M	50x	as long as short
OKX MRVL-USDT-SWAP	0.0000%	8h	255.19	+0.082%	$6.8M	$24.6M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	255.17	+0.075%	$5.1M	$8.7M	50x	as long as short
Variational Omni MRVL	0.0000%	8h	255.07	+0.035%	$715K	$468K	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MRVL_USDT_Perp	0.0000%	8h	255.13	+0.058%	$977	$189K	10x	as long as short
SunX MRVL-USDT	0.0000%	8h	255.31	+0.129%	$1K	$5.9M	10x	as long as short
HTX MRVL-USDT	0.0000%	8h	255.02	+0.016%	$131K	$47K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0017%	1h	255.20	+0.085%	$676	$46K	10x	as long as short
QFEX MRVL-USD	+0.0025%	1h	255.16	+0.071%	$1.1M	$3.5M	10x	as long as short
Lighter MRVL	+0.0032%	1h	255.18	+0.078%	$88K	$167K	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	254.87	−0.043%	$23K	$27K	5x	as long as short
Vest MRVL-USD-PERP	+0.0046%	1h	255.35	+0.145%	—	$51K	25x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	255.07	+0.035%	$14.1M	$9.1M	10x	as long as short
Polymarket Perps MRVL-USD	+0.0050%	1h	255.29	+0.122%	$99K	$83K	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	255.19	+0.082%	$214	$15K	10x	as long as short
Ondo Perps MRVL-USD.P	+0.0050%	1h	254.72	−0.102%	$531K	$839K	10x	as long as short
Paradex MRVL-USD-PERP	+0.0051%	8h	255.02	+0.016%	—	—	5x	as long as short
Nado MRVL-PERP	+0.0059%	1h	255.10	+0.046%	$87K	$272K	10x	as long as short
KuCoin MRVLUSDTM	+0.0100%	8h	255.04	+0.024%	$503K	$70K	20x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	255.09	+0.043%	$4K	$141K	50x	as long as short
Orderly PERP_MRVL_USDC_mythosshort	+0.0100%	8h	255.17	+0.075%	$2K	$3K	10x
Aevo MRVL-PERP	+0.0104%	1h	255.17	+0.074%	$18	—	10x	as long as short
Phoenix MRVLlong	+0.0125%	1h	254.98	long leg	$11K	$12K	10x
Injective MRVL/USDC PERP	+0.0220%	1h	258.02	+1.192%	$11K	$827	12x	as long as short
edgeX MRVLUSDC	+0.0393%	4h	254.88	−0.038%	$36K	$374K	10x	as long as short
Deribit MRVL_USDC-PERPETUAL	+0.0417%	1h	255.17	+0.075%	$22K	$145K	10x	as long as short