Funding you earn now, next payment 22:00 UTC+0.0284%/8h= +31.1% APRnext payment +$0.35 per $10,000 · paid last 24h +0.072%
Price spread now: Phoenix against Arcus+0.122%109s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phoenix is 0.122% dearer against Arcus than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 109 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 | Arcus MRNA-USD | 172.41 | 0.0040 | pay 0.0005% / 1h | 23m 36s | $2K | $65K | 10x |
| Short | Phoenix MRNA | 172.62 | 0.0324 | get 0.0040% / 1h | 23m 36s | $5K | $192K | 10x |
Arcus MRNA-USD
Phoenix MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Arcus. 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
- $59.55
- Price spread: +0.122% → 0.000%
- $12.18
- Slippage, 4 orders
- no order book: not counted
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $60.23
- Costs to cover
- 0.115%
- Break-even
- from the start
Slippage unknown: Arcus: no order-book sample; Phoenix: live order book, 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 Arcus no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 53 min ago | 2.89 bp | 19.0 bp −$19 | 57.7 bp −$577 | doesn't fit | doesn't fit |
Arcus: 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MRNAUSDC | −0.0885% | 4h | 172.72 | +0.182% | $3K | $242K | 10x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.49 | +0.046% | $1.1M | $2.7M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.67 | +0.150% | $29K | $81K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.60 | +0.110% | $2.2M | $11.3M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.53 | +0.070% | $932K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.49 | +0.046% | $1.4M | $4.9M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.59 | +0.104% | $879K | $1.1M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.46 | +0.029% | $2.6M | $10.4M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.59 | +0.106% | $49K | $98K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.73 | +0.186% | $421 | $169K | 10x | as long as short |
edgeX MRNAUSDC
QFEX MRNA-USD
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNA
GRVT MRNA_USDT_PerpShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX MRNA-USDT | 0.0000% | 8h | 172.50 | +0.053% | $12K | $430K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.57 | +0.093% | $1.6M | $642K | 20x | as long as short |
| BloFin MRNA-USDT | +0.0025% | 8h | 172.63 | +0.128% | $44K | $29K | 20x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −7.998% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USDlong | +0.0040% | 1h | 172.41 | long leg | $2K | $65K | 10x | |
| Extended MRNA-USD | +0.0048% | 1h | 172.46 | +0.028% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.47 | +0.035% | $2.6M | $4.2M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.64 | +0.133% | $43K | $39K | 5x | as long as short |
| Lighter MRNA | +0.0160% | 1h | 172.61 | +0.116% | $124K | $1.0M | 10x | as long as short |
| SoDEX MRNA-USD | +0.0218% | 1h | 172.54 | +0.075% | $40K | $75K | 10x | as long as short |
| Phoenix MRNAshort | +0.0324% | 1h | 172.62 | +0.122% | $5K | $192K | 10x |
HTX MRNA-USDT
Phemex MRNAUSDT
BloFin MRNA-USDT
Injective MRNA/USDC PERP
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
Lighter MRNA
SoDEX MRNA-USD