Funding you earn now, next payment 05:00 UTC+0.0185%/8h= +20.2% APRpaid last 24h +0.081%
Price spread now: Phoenix against Bybit−0.168%7-day average +0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs−$165as in the Price arb table
costs, in and out, $10k−$1441.444% of the position
Funding, last 7 days+0.540%+$54 on $10k
+Price spread, last 4 days (all we have)+0.200%+$20 · spread now −0.168%, 7d avg +0.040%
=Funding pays, the price is against you. Phoenix is 0.208% cheaper against Bybit than usual: you would sell low and buy high (spread −0.168% now, against its 7-day average of +0.040%). If the spread goes back, that is −$21 on $10k: about 3.8 days of funding at the current rate (+$6 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MRNAUSDT | 172.47 | 0 | get 0.0000% / 8h | 2h 10m | $937K | $621K | 25x |
| Short | Phoenix MRNA | 172.18 | 0.0185 | get 0.0023% / 1h | 10m 51s | $5K | $191K | 10x |
Bybit MRNAUSDT
Phoenix MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $38.79
- Price spread: −0.168% → +0.040%
- −$20.85
- Slippage, 4 orders
- −$126.39
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$126.45
- Costs to cover
- 1.444%
- Break-even
- 29.8 days
Slippage from Bybit: live order book, 65 min ago; Phoenix: live order book, 31 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 Bybit live order book, 65 min ago | 6.04 bp | 54.0 bp −$54 | 658.0 bp −$6,580 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 31 min ago | 4.04 bp | 24.3 bp −$24 | 77.3 bp −$773 | 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 | −0.1128% | 1h | 172.72 | +0.145% | $156K | $1.2M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.56 | +0.053% | $26K | $83K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.63 | +0.095% | $2.1M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDTlong | 0.0000% | 8h | 172.47 | long leg | $937K | $621K | 25x | |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.54 | +0.041% | $1.3M | $5.4M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.51 | +0.023% | $862K | $999K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.59 | +0.070% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.60 | +0.078% | $56K | $96K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.24 | −0.134% | $2 | $148K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.55 | +0.047% | $13K | $431K | 20x | as long as short |
Lighter MRNA
Aster MRNAUSDT
Binance MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNA
GRVT MRNA_USDT_Perp
HTX MRNA-USDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex MRNAUSDT | 0.0000% | 8h | 172.61 | +0.081% | $1.6M | $654K | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.36 | −0.064% | $1.1M | $2.5M | 10x | as long as short |
| BloFin MRNA-USDT | +0.0013% | 8h | 172.42 | −0.029% | $45K | $29K | 20x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.030% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.26 | −0.122% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.55 | +0.046% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.57 | +0.058% | $2.5M | $4.5M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.33 | −0.081% | $43K | $35K | 5x | as long as short |
| Phoenix MRNAshort | +0.0185% | 1h | 172.18 | −0.168% | $5K | $191K | 10x | |
| SoDEX MRNA-USD | +0.0187% | 1h | 172.52 | +0.029% | $40K | $56K | 10x | as long as short |
| edgeX MRNAUSDC | +0.0591% | 4h | 172.44 | −0.019% | $3K | $247K | 10x | as long as short |
Phemex MRNAUSDT
QFEX MRNA-USD
BloFin MRNA-USDT
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
SoDEX MRNA-USD
edgeX MRNAUSDC