Funding arb · Price arb /

MRVL

RWAall MRVL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.006%

Price spread now: Bybit against QFEX−0.047%53s7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.356% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days+0.030%+$3 · spread now −0.047%, 7d avg +0.010%

Together, before fees+0.018%+$2 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 0.057% cheaper against QFEX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.010%). Swap the legs. The two prices were read 53 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	QFEX MRVL-USD	257.36	0.0043	pay 0.0005% / 1h	5m 41s	$1.1M	$4.2M	10x
Short	Bybit MRVLUSDT	257.24	0	get 0.0000% / 8h	2h 05m	$5.1M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$9.07
Price spread: −0.047% → +0.010%: −$5.66
Slippage, 4 orders: −$14.61
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$50.33
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from QFEX: live order book, 8 min ago; Bybit: live order book, 2 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 QFEX live order book, 8 min ago	0.97 bp	6.0 bp −$6	8.3 bp −$83	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.75 bp	11.6 bp −$12	26.1 bp −$261	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
BloFin MRVL-USDT	−0.0008%	8h	257.27	−0.035%	$376K	$172K	50x	as long as short
Aster MRVLUSDT	0.0000%	8h	257.28	−0.031%	$310K	$331K	50x	as long as short
Extended MRVL-USD	0.0000%	1h	257.36	0.000%	$44K	$190K	10x	as long as short
Binance MRVLUSDT	0.0000%	8h	257.41	+0.019%	$24.1M	$115.2M	50x	as long as short
Bybit MRVLUSDTshort	0.0000%	8h	257.24	−0.047%	$5.1M	$4.2M	50x
OKX MRVL-USDT-SWAP	0.0000%	8h	257.27	−0.035%	$7.1M	$22.6M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	257.45	+0.035%	$5.5M	$10.0M	50x	as long as short
Bitget MRVLUSDT	0.0000%	8h	257.39	+0.012%	$5.6M	$16.4M	20x	as long as short
Variational Omni MRVL	0.0000%	8h	257.17	−0.072%	$710K	$760K	—	as long as short
GRVT MRVL_USDT_Perp	0.0000%	8h	257.34	−0.007%	$394	$249K	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	257.37	+0.004%	$1K	$7.0M	10x	as long as short
HTX MRVL-USDT	0.0000%	8h	257.25	−0.043%	$130K	$81K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0014%	1h	257.20	−0.064%	$655	$54K	10x	as long as short
Lighter MRVL	+0.0032%	1h	257.46	+0.039%	$91K	$219K	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	257.07	−0.113%	$25K	$30K	5x	as long as short
QFEX MRVL-USDlong	+0.0043%	1h	257.36	long leg	$1.1M	$4.2M	10x
Vest MRVL-USD-PERP	+0.0046%	1h	257.46	+0.039%	—	$41K	25x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	257.27	−0.035%	$14.5M	$9.8M	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	257.36	0.000%	$263	$14K	10x	as long as short
Ondo Perps MRVL-USD.P	+0.0050%	1h	257.19	−0.066%	$585K	$939K	10x	as long as short
Paradex MRVL-USD-PERP	+0.0062%	8h	257.26	−0.040%	—	—	5x	as long as short
KuCoin MRVLUSDTM	+0.0100%	8h	257.18	−0.070%	$509K	$72K	20x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	257.10	−0.101%	$4K	$142K	50x	as long as short
Orderly PERP_MRVL_USDC_mythos	+0.0100%	8h	257.39	+0.012%	$2K	$3K	10x	as long as short
Aevo MRVL-PERP	+0.0104%	1h	257.35	−0.002%	$18	—	10x	as long as short
Coinbase International MRVL-PERP-INTX	+0.0112%	1h	257.13	−0.089%	$317K	$890K	10x	as long as short
Polymarket Perps MRVL-USD	+0.0123%	1h	257.51	+0.058%	$106K	$64K	10x	as long as short
Deribit MRVL_USDC-PERPETUAL	+0.0139%	1h	257.31	−0.019%	$22K	$143K	10x	as long as short
Phoenix MRVL	+0.0156%	1h	257.24	−0.047%	$11K	$12K	10x	as long as short
edgeX MRVLUSDC	+0.0197%	4h	257.36	−0.002%	$36K	$367K	10x	as long as short
Injective MRVL/USDC PERP	+0.0220%	1h	259.72	+0.917%	$11K	$609	12x	as long as short
Nado MRVL-PERP	+0.0411%	1h	257.16	−0.079%	$509K	$66K	10x	as long as short