Funding you earn now, next payment 23:00 UTC−0.0232%/8h= −25.4% APRpaid last 24h −0.086%
Price spread now: Phemex against Phoenix+0.058%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$170as in the Funding arb table
Net, price: spread back to 7d avg − costs−$110as in the Price arb table
costs, in and out, $10k−$1161.160% of the position
Funding, last 7 days−0.541%−$54 on $10k
+Price spread, last 3 days (all we have)+0.100%+$10 · spread now +0.058%, 7d avg 0.000%
=The price spread pays, funding is against you. Phemex is 0.058% dearer against Phoenix than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of 0.000%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 20 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MRNA | 172.67 | 0.0232 | pay 0.0029% / 1h | 36m 16s | $5K | $191K | 10x |
| Short | Phemex MRNAUSDT | 172.77 | 0 | get 0.0000% / 8h | 36m 16s | $1.6M | $645K | 20x |
Phoenix MRNA
Phemex MRNAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: +0.058% → 0.000%
- $5.79
- Slippage, 4 orders
- −$97.04
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$158.9
- Costs to cover
- 1.160%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 36 min ago; Phemex: live order book, 2 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, 36 min ago | 2.90 bp | 16.4 bp −$16 | 63.6 bp −$636 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 4.05 bp | 39.9 bp −$40 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MRNAUSDC | −0.0784% | 4h | 172.74 | +0.041% | $3K | $244K | 10x | as long as short |
| BloFin MRNA-USDT | −0.0022% | 8h | 172.84 | +0.098% | $44K | $29K | 20x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.54 | −0.078% | $29K | $81K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.76 | +0.052% | $2.2M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.70 | +0.017% | $933K | $1.0M | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.76 | +0.052% | $1.4M | $5.0M | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.62 | −0.029% | $1.1M | $2.7M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.64 | −0.017% | $879K | $1.1M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.63 | −0.023% | $2.6M | $10.4M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.64 | −0.020% | $49K | $89K | — | as long as short |
edgeX MRNAUSDC
BloFin MRNA-USDT
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
QFEX MRNA-USD
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNAShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.76 | +0.051% | $624 | $165K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.65 | −0.013% | $12K | $429K | 20x | as long as short |
| Phemex MRNAUSDTshort | 0.0000% | 8h | 172.77 | +0.058% | $1.6M | $645K | 20x | |
| Lighter MRNA | +0.0032% | 1h | 172.64 | −0.017% | $124K | $1.0M | 10x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.137% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.50 | −0.098% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.60 | −0.040% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 172.61 | −0.035% | $2.6M | $4.2M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.63 | −0.023% | $43K | $39K | 5x | as long as short |
| SoDEX MRNA-USD | +0.0125% | 1h | 172.66 | −0.006% | $40K | $66K | 10x | as long as short |
| Phoenix MRNAlong | +0.0232% | 1h | 172.67 | long leg | $5K | $191K | 10x |
GRVT MRNA_USDT_Perp
HTX 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