Funding you earn now, next payment 07:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h −0.076%
Price spread now: HTX against Phoenix−0.392%72s7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$315as 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−$2612.613% of the position
Funding, last 7 days−0.538%−$54 on $10k
+Price spread, last 4 days (all we have)+0.523%+$52 · spread now −0.392%, 7d avg +0.005%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and HTX is 0.397% cheaper against Phoenix than usual: you would sell low and buy high (−$40 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 72 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 | 173.36 | 0.0230 | pay 0.0029% / 1h | 31m 52s | $5K | $191K | 10x |
| Short | HTX MRNA-USDT | 172.68 | 0 | get 0.0000% / 8h | 31m 52s | $13K | $430K | 20x |
Phoenix MRNA
HTX MRNA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$48.4
- Price spread: −0.392% → +0.005%
- −$39.74
- Slippage, 4 orders
- −$242.3
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$349.45
- Costs to cover
- 2.613%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 65 min ago; HTX: live order book, 7 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, 65 min ago | 2.32 bp | 16.2 bp −$16 | 63.3 bp −$633 | doesn't fit | doesn't fit |
| Sell HTX live order book, 7 min ago | 26.32 bp | 48.9 bp −$49 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin MRNA-USDT | −0.0029% | 8h | 173.23 | −0.075% | $45K | $29K | 20x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 173.06 | −0.175% | $26K | $82K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 173.12 | −0.141% | $2.1M | $11.2M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 173.03 | −0.190% | $940K | $603K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 173.08 | −0.162% | $1.3M | $5.4M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 173.13 | −0.133% | $883K | $983K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 173.17 | −0.110% | $2.6M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 173.32 | −0.022% | $57K | $94K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 173.28 | −0.045% | $404 | $142K | 10x | as long as short |
| HTX MRNA-USDTshort | 0.0000% | 8h | 172.68 | −0.392% | $13K | $430K | 20x |
BloFin MRNA-USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex MRNAUSDT | 0.0000% | 8h | 173.19 | −0.098% | $1.6M | $639K | 20x | as long as short |
| QFEX MRNA-USD | +0.0001% | 1h | 172.88 | −0.277% | $1.1M | $2.5M | 10x | as long as short |
| Lighter MRNA | +0.0032% | 1h | 173.36 | 0.000% | $156K | $1.2M | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.503% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.94 | −0.242% | $2K | $65K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.82 | −0.311% | $43K | $35K | 5x | as long as short |
| Extended MRNA-USD | +0.0072% | 1h | 173.03 | −0.192% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0072% | 1h | 173.08 | −0.162% | $2.6M | $4.3M | 10x | as long as short |
| SoDEX MRNA-USD | +0.0191% | 1h | 173.00 | −0.208% | $40K | $55K | 10x | as long as short |
| Phoenix MRNAlong | +0.0230% | 1h | 173.36 | long leg | $5K | $191K | 10x | |
| edgeX MRNAUSDC | +0.0899% | 4h | 173.25 | −0.065% | $3K | $250K | 10x | as long as short |
Phemex MRNAUSDT
QFEX MRNA-USD
Lighter MRNA
Injective MRNA/USDC PERP
Arcus MRNA-USD
Ondo Perps MRNA-USD.P
Extended MRNA-USD
tradeXYZ xyz:MRNA
SoDEX MRNA-USD
edgeX MRNAUSDC