Funding you earn now, next payment 23:00 UTC−0.0232%/8h= −25.4% APRpaid last 24h −0.086%
Price spread now: OKX against Phoenix+0.046%86s7-day average −0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$122as 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−$680.680% of the position
Funding, last 7 days−0.541%−$54 on $10k
+Price spread, last 3 days (all we have)−0.076%−$8 · spread now +0.046%, 7d avg −0.054%
=The price spread pays, funding is against you. OKX is 0.101% dearer against Phoenix than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.054%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 35 hours. The two prices were read 86 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 | 172.71 | 0.0232 | pay 0.0029% / 1h | 14m 00s | $5K | $191K | 10x |
| Short | OKX MRNA-USDT-SWAP | 172.79 | 0 | get 0.0000% / 8h | 14m 00s | $1.4M | $5.0M | 20x |
Phoenix MRNA
OKX MRNA-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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: +0.046% → −0.054%
- $10.08
- Slippage, 4 orders
- −$51.05
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$106.62
- Costs to cover
- 0.680%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 58 min ago; OKX: live order book, 4 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, 58 min ago | 2.90 bp | 16.4 bp −$16 | 63.6 bp −$636 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 2.61 bp | 14.9 bp −$15 | 125.2 bp −$1,252 | 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 | −0.0015% | 8h | 172.81 | +0.058% | $44K | $29K | 20x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.70 | −0.004% | $29K | $81K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.82 | +0.066% | $2.2M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.74 | +0.017% | $933K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAPshort | 0.0000% | 8h | 172.79 | +0.046% | $1.4M | $5.0M | 20x | |
| QFEX MRNA-USD | 0.0000% | 1h | 172.74 | +0.017% | $1.1M | $2.7M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.71 | 0.000% | $880K | $1.1M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.73 | +0.012% | $2.6M | $10.4M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.80 | +0.052% | $49K | $89K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.73 | +0.012% | $579 | $164K | 10x | as long as short |
BloFin MRNA-USDT
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
QFEX MRNA-USD
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 | |
|---|---|---|---|---|---|---|---|---|
| HTX MRNA-USDT | 0.0000% | 8h | 172.86 | +0.086% | $12K | $428K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.76 | +0.029% | $1.6M | $645K | 20x | as long as short |
| Lighter MRNA | +0.0032% | 1h | 172.80 | +0.052% | $124K | $1.0M | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.158% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.59 | −0.069% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.69 | −0.011% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.71 | 0.000% | $2.6M | $4.2M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.77 | +0.035% | $43K | $39K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0143% | 1h | 172.73 | +0.012% | $40K | $66K | 10x | as long as short |
| Phoenix MRNAlong | +0.0232% | 1h | 172.71 | long leg | $5K | $191K | 10x | |
| edgeX MRNAUSDC | +0.0519% | 4h | 172.75 | +0.026% | $3K | $245K | 10x | as long as short |
HTX MRNA-USDT
Phemex MRNAUSDT
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