Funding you earn now, next payment 23:00 UTC−0.0232%/8h= −25.4% APRpaid last 24h −0.086%
Price spread now: Bybit against Phoenix−0.041%75s7-day average −0.045% · you buy dearer than you sell
Net, funding: paid 7d − costs−$177as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1231.233% of the position
Funding, last 7 days−0.541%−$54 on $10k
+Price spread, last 3 days (all we have)+0.008%+$1 · spread now −0.041%, 7d avg −0.045%
=The price spread sits at its 7-day average of −0.045%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 75 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 | 172.77 | 0.0232 | pay 0.0029% / 1h | 44m 16s | $5K | $191K | 10x |
| Short | Bybit MRNAUSDT | 172.70 | 0 | get 0.0000% / 8h | 44m 16s | $933K | $1.0M | 25x |
Phoenix MRNA
Bybit MRNAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$48.65
- Price spread: −0.041% → −0.045%
- $0.43
- Slippage, 4 orders
- −$105.35
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$171.57
- Costs to cover
- 1.233%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 28 min ago; Bybit: live order book, 1 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 Phoenix live order book, 28 min ago | 2.90 bp | 16.4 bp −$16 | 63.6 bp −$636 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 5.50 bp | 59.8 bp −$60 | 1114.5 bp −$11.1K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster MRNAUSDT | 0.0000% | 8h | 172.58 | −0.110% | $29K | $81K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.68 | −0.052% | $2.2M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDTshort | 0.0000% | 8h | 172.70 | −0.041% | $933K | $1.0M | 25x | |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.69 | −0.046% | $1.4M | $4.9M | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.64 | −0.075% | $1.1M | $2.7M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.58 | −0.110% | $879K | $1.1M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.56 | −0.122% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.73 | −0.021% | $49K | $89K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.75 | −0.013% | $178 | $166K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.86 | +0.050% | $12K | $430K | 20x | as long as short |
Aster MRNAUSDT
Binance MRNAUSDT
OKX MRNA-USDT-SWAP
QFEX MRNA-USD
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 | 172.66 | −0.064% | $1.6M | $646K | 20x | as long as short |
| BloFin MRNA-USDT | +0.0020% | 8h | 172.73 | −0.023% | $44K | $29K | 20x | as long as short |
| Lighter MRNA | +0.0032% | 1h | 172.74 | −0.017% | $124K | $1.0M | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.190% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.54 | −0.133% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.60 | −0.098% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.60 | −0.098% | $2.6M | $4.2M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.49 | −0.162% | $43K | $39K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0156% | 1h | 172.64 | −0.075% | $40K | $66K | 10x | as long as short |
| Phoenix MRNAlong | +0.0232% | 1h | 172.77 | long leg | $5K | $191K | 10x | |
| edgeX MRNAUSDC | +0.0736% | 4h | 172.74 | −0.015% | $3K | $244K | 10x | as long as short |
Phemex MRNAUSDT
BloFin MRNA-USDT
Lighter MRNA
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
SoDEX MRNA-USD
edgeX MRNAUSDC