Funding arb · Price arb /

MRVL

RWAall MRVL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.049%

Price spread now: Variational Omni against Phoenix+0.132%99s7-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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.132% dearer against Phoenix than usual: you sell high and buy low (spread +0.132% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.3 days. The two prices were read 99 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 MRVL	253.30	0.0188	pay 0.0023% / 1h	45m 35s	$11K	$12K	10x
Short	Variational Omni MRVL	253.63	0	get 0.0000% / 8h	7h 45m	$708K	$457K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.132%Rate

Funding earned: −$39.46
Price spread: +0.132% → 0.000%: $13.15
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$33.31
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 53 min ago. 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 Variational Omni RFQ quote, 53 min ago	2.74 bp	doesn't fit	20.2 bp −$202	doesn't fit	doesn't fit

Phoenix: 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	−0.0448%	8h	254.08	+0.308%	$5.5M	$17.4M	20x	as long as short
BloFin MRVL-USDT	−0.0018%	8h	253.68	+0.150%	$365K	$190K	50x	as long as short
Aster MRVLUSDT	0.0000%	8h	253.65	+0.139%	$299K	$341K	50x	as long as short
Extended MRVL-USD	0.0000%	1h	253.79	+0.195%	$47K	$306K	10x	as long as short
Binance MRVLUSDT	0.0000%	8h	253.87	+0.224%	$23.3M	$114.9M	50x	as long as short
Bybit MRVLUSDT	0.0000%	8h	253.70	+0.158%	$4.9M	$4.1M	50x	as long as short
OKX MRVL-USDT-SWAP	0.0000%	8h	253.95	+0.257%	$6.7M	$24.2M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	253.89	+0.233%	$5.0M	$8.4M	50x	as long as short
Variational Omni MRVLshort	0.0000%	8h	253.63	+0.132%	$708K	$457K	—
GRVT MRVL_USDT_Perp	0.0000%	8h	253.96	+0.261%	$752	$187K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MRVL-USDT	0.0000%	8h	253.65	+0.138%	$1K	$5.8M	10x	as long as short
HTX MRVL-USDT	0.0000%	8h	253.75	+0.178%	$130K	$48K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0018%	1h	253.68	+0.149%	$998	$46K	10x	as long as short
Nado MRVL-PERP	+0.0019%	1h	253.62	+0.128%	$86K	$272K	10x	as long as short
QFEX MRVL-USD	+0.0022%	1h	253.70	+0.158%	$1.1M	$3.5M	10x	as long as short
Lighter MRVL	+0.0032%	1h	253.84	+0.213%	$88K	$164K	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	253.67	+0.146%	$23K	$26K	5x	as long as short
Vest MRVL-USD-PERP	+0.0046%	1h	253.86	+0.221%	—	$51K	25x	as long as short
Paradex MRVL-USD-PERP	+0.0049%	8h	253.78	+0.191%	—	—	5x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	254.00	+0.276%	$14.0M	$9.1M	10x	as long as short
Polymarket Perps MRVL-USD	+0.0050%	1h	253.74	+0.174%	$99K	$76K	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	253.60	+0.118%	$112	$15K	10x	as long as short
Ondo Perps MRVL-USD.P	+0.0050%	1h	253.62	+0.126%	$539K	$840K	10x	as long as short
Deribit MRVL_USDC-PERPETUAL	+0.0066%	1h	253.57	+0.107%	$22K	$145K	10x	as long as short
Coinbase International MRVL-PERP-INTX	+0.0072%	1h	253.73	+0.170%	$325K	$663K	10x	as long as short
KuCoin MRVLUSDTM	+0.0100%	8h	253.72	+0.166%	$502K	$98K	20x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	253.55	+0.099%	$4K	$144K	50x	as long as short
Orderly PERP_MRVL_USDC_mythos	+0.0100%	8h	253.61	+0.122%	$2K	$3K	10x	as long as short
Aevo MRVL-PERP	+0.0104%	1h	253.58	+0.110%	$18	—	10x	as long as short
edgeX MRVLUSDC	+0.0177%	4h	253.68	+0.151%	$36K	$375K	10x	as long as short
Phoenix MRVLlong	+0.0188%	1h	253.30	long leg	$11K	$12K	10x
Injective MRVL/USDC PERP	+0.0220%	1h	256.63	+1.315%	$11K	$845	12x	as long as short