Funding arb · Price arb /

MRVL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Bybit against Injective−2.045%68s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bybit

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—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 2.045% cheaper against Injective than usual: you would sell low and buy high (−$204 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 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	Injective MRVL/USDC PERP	261.65	0.0220	pay 0.0028% / 1h	16m 10s	$11K	$734	12x
Short	Bybit MRVLUSDT	256.30	0	get 0.0000% / 8h	3h 16m	$5.0M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now −2.045%Rate

Funding earned: −$46.2
Price spread: −2.045% → 0.000%: −$204.47
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$261.69
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 2 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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	1.76 bp	10.0 bp −$10	26.3 bp −$263	doesn't fit	doesn't fit

Injective: 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	−0.0285%	8h	256.43	−1.995%	$5.5M	$16.4M	20x	as long as short
Aster MRVLUSDT	0.0000%	8h	256.19	−2.085%	$301K	$339K	50x	as long as short
Extended MRVL-USD	0.0000%	1h	256.29	−2.049%	$49K	$346K	10x	as long as short
Binance MRVLUSDT	0.0000%	8h	256.31	−2.041%	$23.6M	$109.8M	50x	as long as short
Bybit MRVLUSDTshort	0.0000%	8h	256.30	−2.045%	$5.0M	$3.9M	50x
OKX MRVL-USDT-SWAP	0.0000%	8h	256.23	−2.071%	$6.8M	$22.8M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	256.41	−2.003%	$5.5M	$8.3M	50x	as long as short
Variational Omni MRVL	0.0000%	8h	256.31	−2.041%	$711K	$631K	—	as long as short
GRVT MRVL_USDT_Perp	0.0000%	8h	256.26	−2.061%	$602	$191K	10x	as long as short
SunX MRVL-USDT	0.0000%	8h	256.63	−1.919%	$2K	$6.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRVL-USDT	0.0000%	8h	255.91	−2.194%	$129K	$42K	50x	as long as short
BloFin MRVL-USDT	+0.0016%	8h	256.08	−2.129%	$368K	$173K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0021%	1h	256.13	−2.109%	$595	$49K	10x	as long as short
QFEX MRVL-USD	+0.0025%	1h	256.56	−1.945%	$1.1M	$3.6M	10x	as long as short
Lighter MRVL	+0.0032%	1h	256.30	−2.045%	$89K	$203K	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	255.84	−2.221%	$25K	$27K	5x	as long as short
Vest MRVL-USD-PERP	+0.0046%	1h	256.60	−1.930%	—	$50K	25x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	256.28	−2.052%	$14.1M	$8.7M	10x	as long as short
Polymarket Perps MRVL-USD	+0.0050%	1h	256.34	−2.029%	$102K	$80K	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	256.21	−2.079%	$169	$15K	10x	as long as short
Ondo Perps MRVL-USD.P	+0.0050%	1h	256.28	−2.052%	$549K	$753K	10x	as long as short
Paradex MRVL-USD-PERP	+0.0051%	8h	256.48	−1.977%	—	—	5x	as long as short
Coinbase International MRVL-PERP-INTX	+0.0088%	1h	255.56	−2.328%	$322K	$633K	10x	as long as short
Nado MRVL-PERP	+0.0098%	1h	256.26	−2.059%	$87K	$272K	10x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	255.93	−2.186%	$4K	$141K	50x	as long as short
Orderly PERP_MRVL_USDC_mythos	+0.0100%	8h	256.25	−2.064%	$2K	$3K	10x	as long as short
Aevo MRVL-PERP	+0.0104%	1h	256.25	−2.064%	$18	—	10x	as long as short
KuCoin MRVLUSDTM	+0.0109%	8h	256.50	−1.968%	$507K	$62K	20x	as long as short
Deribit MRVL_USDC-PERPETUAL	+0.0140%	1h	256.43	−1.995%	$22K	$144K	10x	as long as short
Phoenix MRVL	+0.0185%	1h	256.05	−2.140%	$11K	$12K	10x	as long as short
Injective MRVL/USDC PERPlong	+0.0220%	1h	261.65	long leg	$11K	$734	12x
edgeX MRVLUSDC	+0.0402%	4h	256.34	−2.029%	$36K	$373K	10x	as long as short