Funding arb · Price arb /

MRVL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h +0.049%

Price spread now: Phoenix against SunX−0.114%69s7-day average — · you buy dearer than you sell

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

Long on SunX Short on Phoenix

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

Funding pays, the price is against you. Phoenix is 0.114% cheaper against SunX than usual: you would sell low and buy high (spread −0.114% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.0 days of funding at the current rate (+$4 a day). The two prices were read 69 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	SunX MRVL-USDT	255.42	0	get 0.0000% / 8h	9m 58s	$1K	$5.9M	10x
Short	Phoenix MRVL	255.13	0.0125	get 0.0016% / 1h	9m 58s	$11K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SunX. 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 SunXbpFee PhoenixbpOrdersPrice spread, now −0.114%Rate

Funding earned: $26.3
Price spread: −0.114% → 0.000%: −$11.35
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$0.06
Costs to cover: 0.150%
Break-even: 7.0 days

Slippage unknown: SunX: live order book, 9 min ago; Phoenix: 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 SunX live order book, 9 min ago	44.89 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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	−0.0521%	8h	255.41	−0.004%	$5.5M	$17.2M	20x	as long as short
Coinbase International MRVL-PERP-INTX	−0.0008%	1h	255.11	−0.121%	$335K	$652K	10x	as long as short
Aster MRVLUSDT	0.0000%	8h	255.41	−0.003%	$301K	$341K	50x	as long as short
Extended MRVL-USD	0.0000%	1h	255.29	−0.052%	$50K	$303K	10x	as long as short
Binance MRVLUSDT	0.0000%	8h	255.35	−0.028%	$23.5M	$113.8M	50x	as long as short
Bybit MRVLUSDT	0.0000%	8h	255.30	−0.047%	$5.0M	$4.1M	50x	as long as short
OKX MRVL-USDT-SWAP	0.0000%	8h	255.25	−0.067%	$6.8M	$24.6M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	255.42	0.000%	$5.1M	$8.7M	50x	as long as short
Variational Omni MRVL	0.0000%	8h	255.09	−0.128%	$714K	$468K	—	as long as short
GRVT MRVL_USDT_Perp	0.0000%	8h	255.43	+0.003%	$968	$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-USDTlong	0.0000%	8h	255.42	long leg	$1K	$5.9M	10x
Deribit MRVL_USDC-PERPETUAL	0.0000%	1h	255.28	−0.055%	$22K	$145K	10x	as long as short
HTX MRVL-USDT	0.0000%	8h	255.13	−0.114%	$131K	$47K	50x	as long as short
BloFin MRVL-USDT	+0.0007%	8h	255.15	−0.106%	$366K	$188K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0017%	1h	255.21	−0.082%	$751	$46K	10x	as long as short
QFEX MRVL-USD	+0.0025%	1h	255.11	−0.121%	$1.1M	$3.5M	10x	as long as short
Lighter MRVL	+0.0032%	1h	255.37	−0.020%	$88K	$167K	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	254.99	−0.168%	$23K	$27K	5x	as long as short
Vest MRVL-USD-PERP	+0.0046%	1h	255.45	+0.012%	—	$51K	25x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	255.19	−0.090%	$14.2M	$9.1M	10x	as long as short
Polymarket Perps MRVL-USD	+0.0050%	1h	254.99	−0.168%	$99K	$81K	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	255.23	−0.074%	$179	$15K	10x	as long as short
Ondo Perps MRVL-USD.P	+0.0050%	1h	255.17	−0.098%	$532K	$832K	10x	as long as short
Paradex MRVL-USD-PERP	+0.0051%	8h	254.99	−0.167%	—	—	5x	as long as short
Nado MRVL-PERP	+0.0065%	1h	255.05	−0.146%	$87K	$272K	10x	as long as short
KuCoin MRVLUSDTM	+0.0100%	8h	255.23	−0.074%	$504K	$73K	20x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	255.30	−0.047%	$4K	$141K	50x	as long as short
Orderly PERP_MRVL_USDC_mythos	+0.0100%	8h	255.33	−0.035%	$2K	$3K	10x	as long as short
Aevo MRVL-PERP	+0.0104%	1h	255.34	−0.033%	$18	—	10x	as long as short
Phoenix MRVLshort	+0.0125%	1h	255.13	−0.114%	$11K	$12K	10x
Injective MRVL/USDC PERP	+0.0220%	1h	258.02	+1.018%	$11K	$827	12x	as long as short
edgeX MRVLUSDC	+0.0334%	4h	255.16	−0.102%	$36K	$376K	10x	as long as short