Funding you earn now, next payment 00:00 UTC+0.0921%/8h= +100.8% APRnext payment +$1.15 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter against Phoenix+0.144%104s7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs−$67as 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−$450.448% of the position
Funding, last 7 days−0.222%−$22 on $10k
+Price spread, last 3 days (all we have)−0.072%−$7 · spread now +0.144%, 7d avg +0.019%
=Together, before fees−0.294%+ Points / potential airdropLighter: Season 3 · farm board−$29 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Lighter is 0.125% dearer against Phoenix than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.019%. Mind the row above: over the last 7 days funding on this pair cost −0.222%, so the current rate has only just turned in your favour. The two prices were read 104 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.222% in total (about -11.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.15 per $10,000. 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 | Phoenix MRNA | 173.40 | 0.0231 | pay 0.0029% / 1h | 47m 45s | $5K | $193K | 10x |
| Short | Lighter MRNA | 173.65 | 0.1152 | get 0.0144% / 1h | 47m 45s | $123K | $1.0M | 10x |
Phoenix MRNA
Lighter MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $193.38
- Price spread: +0.144% → +0.019%
- $12.5
- Slippage, 4 orders
- −$37.77
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $161.11
- Costs to cover
- 0.448%
- Break-even
- 1.2 days
Slippage from Phoenix: live order book, 19 min ago; 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 Phoenix live order book, 19 min ago | 2.88 bp | 17.5 bp −$17 | 68.8 bp −$688 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 2.02 bp | 4.6 bp −$5 | 28.8 bp −$288 | 196.2 bp −$19.6K | 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 | 173.48 | +0.047% | $29K | $81K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 173.82 | +0.243% | $2.2M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 173.91 | +0.294% | $944K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 173.80 | +0.231% | $1.4M | $5.2M | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 173.58 | +0.104% | $1.1M | $2.7M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 173.55 | +0.087% | $874K | $1.1M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 173.70 | +0.173% | $2.6M | $10.4M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 173.43 | +0.016% | $49K | $89K | — | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 173.89 | +0.281% | $12K | $428K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 173.87 | +0.271% | $1.6M | $647K | 20x | as long as short |
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
QFEX MRNA-USD
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNA
HTX MRNA-USDT
Phemex MRNAUSDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin MRNA-USDT | +0.0007% | 8h | 173.52 | +0.069% | $44K | $29K | 20x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.524% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 173.33 | −0.040% | $2K | $65K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 173.34 | −0.035% | $43K | $38K | 5x | as long as short |
| edgeX MRNAUSDC | +0.0188% | 4h | 173.28 | −0.071% | $3K | $244K | 10x | as long as short |
| Phoenix MRNAlong | +0.0231% | 1h | 173.40 | long leg | $5K | $193K | 10x | |
| tradeXYZ xyz:MRNA | +0.0267% | 1h | 173.77 | +0.213% | $2.6M | $4.2M | 10x | as long as short |
| Extended MRNA-USD | +0.0296% | 1h | 173.78 | +0.220% | $32K | $32K | 10x | as long as short |
| GRVT MRNA_USDT_Perp | +0.0360% | 8h | 173.23 | −0.097% | $440 | $163K | 10x | as long as short |
| SoDEX MRNA-USD | +0.0889% | 1h | 173.65 | +0.144% | $40K | $66K | 10x | as long as short |
| Lighter MRNAshort | +0.1152% | 1h | 173.65 | +0.144% | $123K | $1.0M | 10x |
BloFin MRNA-USDT
Injective MRNA/USDC PERP
Arcus MRNA-USD
Ondo Perps MRNA-USD.P
edgeX MRNAUSDC
tradeXYZ xyz:MRNA
Extended MRNA-USD
GRVT MRNA_USDT_Perp
SoDEX MRNA-USD