Funding you earn now, next payment 01:00 UTC−0.0238%/8h= −26.1% APRnext payment −$0.30 per $10,000 · paid last 24h −0.074%
Price spread now: Arcus against Phoenix−0.151%49s7-day average — · you buy dearer than you sell
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 against this trade now: funding costs −$7 a day on $10k at the current rate, and Arcus is 0.151% cheaper against Phoenix than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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 | Phoenix MRNA | 172.33 | 0.0279 | pay 0.0035% / 1h | 38m 30s | $5K | $193K | 10x |
| Short | Arcus MRNA-USD | 172.07 | 0.0040 | get 0.0005% / 1h | 38m 30s | $2K | $64K | 10x |
Phoenix MRNA
Arcus MRNA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- −$50.05
- Price spread: −0.151% → 0.000%
- −$15.09
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$76.64
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 23 min ago; Arcus: 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 Phoenix live order book, 23 min ago | 4.07 bp | 22.2 bp −$22 | 91.5 bp −$915 | doesn't fit | doesn't fit |
| Sell Arcus no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter MRNA | −0.0744% | 1h | 172.19 | −0.081% | $109K | $1.1M | 10x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.12 | −0.122% | $1.1M | $2.7M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.09 | −0.139% | $28K | $81K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.09 | −0.139% | $933K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.07 | −0.151% | $1.3M | $5.2M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.20 | −0.075% | $861K | $1.0M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.05 | −0.162% | $2.6M | $10.5M | 20x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 171.94 | −0.229% | $12K | $428K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.15 | −0.104% | $1.6M | $646K | 20x | as long as short |
| GRVT MRNA_USDT_Perp | +0.0005% | 8h | 172.24 | −0.052% | $198 | $153K | 10x | as long as short |
Lighter MRNA
QFEX MRNA-USD
Aster MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
HTX MRNA-USDT
Phemex MRNAUSDT
GRVT MRNA_USDT_PerpShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX MRNAUSDC | +0.0027% | 4h | 172.34 | +0.007% | $3K | $245K | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −7.956% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USDshort | +0.0040% | 1h | 172.07 | −0.151% | $2K | $64K | 10x | |
| Extended MRNA-USD | +0.0048% | 1h | 172.06 | −0.159% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.07 | −0.151% | $2.6M | $4.3M | 10x | as long as short |
| SoDEX MRNA-USD | +0.0050% | 1h | 172.12 | −0.122% | $40K | $66K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 171.97 | −0.209% | $43K | $38K | 5x | as long as short |
| Variational Omni MRNA | +0.0091% | 8h | 172.16 | −0.100% | $49K | $89K | — | as long as short |
| Binance MRNAUSDT | +0.0117% | 8h | 172.16 | −0.097% | $2.1M | $11.3M | 20x | as long as short |
| BloFin MRNA-USDT | +0.0133% | 8h | 172.49 | +0.093% | $45K | $29K | 20x | as long as short |
| Phoenix MRNAlong | +0.0279% | 1h | 172.33 | long leg | $5K | $193K | 10x |
edgeX MRNAUSDC
Injective MRNA/USDC PERP
Extended MRNA-USD
tradeXYZ xyz:MRNA
SoDEX MRNA-USD
Ondo Perps MRNA-USD.P
Variational Omni MRNA
Binance MRNAUSDT
BloFin MRNA-USDT