Funding you earn now, next payment 02:00 UTC−0.0640%/8h= −70.1% APRpaid last 24h +0.087%
Price spread now: Lighter against Phemex−0.035%7-day average +0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$850.851% of the position
Funding, last 7 days+0.320%+$32 on $10k
+Price spread, last 3 days (all we have)+0.030%+$3 · spread now −0.035%, 7d avg +0.023%
=Together, before fees+0.350%+ Points / potential airdropLighter: Season 3 · farm board+$35 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Lighter is 0.058% cheaper against Phemex than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.023%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.320%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.320% in total (about 16.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MRNAUSDT | 172.36 | 0 | get 0.0000% / 8h | 6h 57m | $1.6M | $648K | 20x |
| Short | Lighter MRNA | 172.30 | −0.0640 | pay 0.0080% / 1h | 57m 31s | $109K | $1.1M | 10x |
Phemex MRNAUSDT
Lighter MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phemex. 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
- −$134.4
- Price spread: −0.035% → +0.023%
- −$5.77
- Slippage, 4 orders
- −$73.11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$225.28
- Costs to cover
- 0.851%
- Break-even
- never at this rate
Slippage from Phemex: live order book, just now; Lighter: live order book, 3 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 Phemex live order book, just now | 2.90 bp | 37.1 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 2.90 bp | 3.9 bp −$4 | 39.4 bp −$394 | 188.5 bp −$18.8K | 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 MRNAshort | −0.0640% | 1h | 172.30 | −0.035% | $109K | $1.1M | 10x | |
| edgeX MRNAUSDC | −0.0071% | 4h | 172.32 | −0.023% | $3K | $244K | 10x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.32 | −0.023% | $1.2M | $2.7M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.24 | −0.070% | $29K | $81K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.37 | +0.006% | $935K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.34 | −0.012% | $1.3M | $5.2M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.22 | −0.081% | $862K | $1.0M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.28 | −0.046% | $2.6M | $10.6M | 20x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.36 | −0.002% | $12K | $429K | 20x | as long as short |
| Phemex MRNAUSDTlong | 0.0000% | 8h | 172.36 | long leg | $1.6M | $648K | 20x |
edgeX MRNAUSDC
QFEX MRNA-USD
Aster MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
HTX MRNA-USDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −7.972% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.16 | −0.116% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.32 | −0.021% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.34 | −0.012% | $2.6M | $4.4M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.40 | +0.023% | $43K | $39K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0089% | 1h | 172.20 | −0.093% | $40K | $66K | 10x | as long as short |
| Variational Omni MRNA | +0.0121% | 8h | 171.99 | −0.214% | $49K | $89K | — | as long as short |
| BloFin MRNA-USDT | +0.0145% | 8h | 172.39 | +0.017% | $45K | $29K | 20x | as long as short |
| Binance MRNAUSDT | +0.0149% | 8h | 172.43 | +0.043% | $2.1M | $11.4M | 20x | as long as short |
| Phoenix MRNA | +0.0231% | 1h | 171.98 | −0.220% | $5K | $191K | 10x | as long as short |
| GRVT MRNA_USDT_Perp | +0.0321% | 8h | 172.28 | −0.045% | $191 | $154K | 10x | as long as short |
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
SoDEX MRNA-USD
Variational Omni MRNA
BloFin MRNA-USDT
Binance MRNAUSDT
Phoenix MRNA
GRVT MRNA_USDT_Perp