Funding you earn now, next payment 01:00 UTC−0.0279%/8h= −30.5% APRpaid last 24h −0.086%
Price spread now: Bybit against Phoenix−0.139%66s7-day average −0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$238as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1841.843% of the position
Funding, last 7 days−0.540%−$54 on $10k
+Price spread, last 4 days (all we have)−0.159%−$16 · spread now −0.139%, 7d avg −0.043%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.096% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.043%). Swap the legs. The two prices were read 66 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 MRNA | 172.33 | 0.0279 | pay 0.0035% / 1h | 38m 24s | $5K | $193K | 10x |
| Short | Bybit MRNAUSDT | 172.09 | 0 | get 0.0000% / 8h | 6h 38m | $933K | $1.0M | 25x |
Phoenix MRNA
Bybit MRNAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$58.51
- Price spread: −0.139% → −0.043%
- −$9.64
- Slippage, 4 orders
- −$166.29
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$252.44
- Costs to cover
- 1.843%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 23 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 Phoenix live order book, 23 min ago | 4.07 bp | 22.2 bp −$22 | 91.5 bp −$915 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 4.65 bp | 39.4 bp −$39 | 822.7 bp −$8,227 | doesn't fit | doesn't fit |
MRNA on 21 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter MRNA | −0.0744% | 1h | 172.19 | −0.081% | $109K | $1.1M | 10x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.12 | −0.122% | $1.1M | $2.7M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.09 | −0.139% | $28K | $81K | 20x | as long as short |
| Bybit MRNAUSDTshort | 0.0000% | 8h | 172.09 | −0.139% | $933K | $1.0M | 25x | |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.07 | −0.151% | $1.3M | $5.2M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.20 | −0.075% | $861K | $1.0M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.05 | −0.162% | $2.6M | $10.5M | 20x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 171.94 | −0.229% | $12K | $428K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.15 | −0.104% | $1.6M | $646K | 20x | as long as short |
| GRVT MRNA_USDT_Perp | +0.0005% | 8h | 172.24 | −0.052% | $198 | $153K | 10x | as long as short |
Lighter MRNA
QFEX MRNA-USD
Aster MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
HTX MRNA-USDT
Phemex MRNAUSDT
GRVT MRNA_USDT_PerpShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX MRNAUSDC | +0.0027% | 4h | 172.34 | +0.007% | $3K | $245K | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −7.956% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.07 | −0.151% | $2K | $64K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.06 | −0.159% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.07 | −0.151% | $2.6M | $4.3M | 10x | as long as short |
| SoDEX MRNA-USD | +0.0050% | 1h | 172.12 | −0.122% | $40K | $66K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 171.97 | −0.209% | $43K | $38K | 5x | as long as short |
| Variational Omni MRNA | +0.0091% | 8h | 172.16 | −0.100% | $49K | $89K | — | as long as short |
| Binance MRNAUSDT | +0.0117% | 8h | 172.16 | −0.097% | $2.1M | $11.3M | 20x | as long as short |
| BloFin MRNA-USDT | +0.0133% | 8h | 172.49 | +0.093% | $45K | $29K | 20x | as long as short |
| Phoenix MRNAlong | +0.0279% | 1h | 172.33 | long leg | $5K | $193K | 10x |
edgeX MRNAUSDC
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
SoDEX MRNA-USD
Ondo Perps MRNA-USD.P
Variational Omni MRNA
Binance MRNAUSDT
BloFin MRNA-USDT