Funding you earn now, next payment 04:00 UTC−0.0277%/8h= −30.3% APRnext payment −$0.35 per $10,000 · paid last 24h −0.083%
Price spread now: QFEX against Phoenix−0.052%7-day average −0.262% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$690.686% of the position
Funding, last 4 days (all we have)−0.185%−$18 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.052%, 7d avg −0.262%
=The price spread pays, funding is against you. QFEX is 0.211% dearer against Phoenix than usual: you sell high and buy low (spread −0.052% now, against its 7-day average of −0.262%): +$21 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MRNA | 174.42 | 0.0277 | pay 0.0035% / 1h | 42m 59s | $5K | $191K | 10x |
| Short | QFEX MRNA-USD | 174.33 | 0 | get 0.0000% / 1h | 42m 59s | $1.1M | $2.6M | 10x |
Phoenix MRNA
QFEX MRNA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$58.1
- Price spread: −0.052% → −0.262%
- $21.09
- Slippage, 4 orders
- −$51.61
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$105.62
- Costs to cover
- 0.686%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 4 min ago; QFEX: live order book, 9 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, 4 min ago | 4.01 bp | 22.4 bp −$22 | 91.4 bp −$914 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 9 min ago | 1.15 bp | 10.2 bp −$10 | 17.4 bp −$174 | 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 | 174.37 | −0.026% | $28K | $82K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 174.40 | −0.011% | $950K | $616K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 174.44 | +0.011% | $1.3M | $5.3M | 20x | as long as short |
| QFEX MRNA-USDshort | 0.0000% | 1h | 174.33 | −0.052% | $1.1M | $2.6M | 10x | |
| Gate MRNA_USDT | 0.0000% | 8h | 174.43 | +0.006% | $871K | $997K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 174.39 | −0.017% | $2.8M | $10.5M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 174.49 | +0.040% | $50K | $89K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 174.38 | −0.023% | $17 | $147K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 174.38 | −0.026% | $14K | $431K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 174.45 | +0.017% | $1.6M | $644K | 20x | as long as short |
Aster MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
Variational Omni MRNA
GRVT MRNA_USDT_Perp
HTX MRNA-USDT
Phemex MRNAUSDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance MRNAUSDT | +0.0019% | 8h | 174.46 | +0.022% | $2.2M | $11.3M | 20x | as long as short |
| BloFin MRNA-USDT | +0.0020% | 8h | 174.58 | +0.092% | $45K | $29K | 20x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −9.059% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 174.18 | −0.138% | $2K | $64K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 174.29 | −0.074% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNA | +0.0050% | 1h | 174.31 | −0.063% | $2.7M | $4.5M | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 174.25 | −0.097% | $43K | $35K | 5x | as long as short |
| Phoenix MRNAlong | +0.0277% | 1h | 174.42 | long leg | $5K | $191K | 10x | |
| edgeX MRNAUSDC | +0.0407% | 4h | 174.43 | +0.003% | $3K | $247K | 10x | as long as short |
| SoDEX MRNA-USD | +0.0558% | 1h | 174.38 | −0.023% | $40K | $56K | 10x | as long as short |
| Lighter MRNA | +0.0600% | 1h | 174.50 | +0.046% | $158K | $1.1M | 10x | as long as short |
Binance MRNAUSDT
BloFin MRNA-USDT
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
tradeXYZ xyz:MRNA
Ondo Perps MRNA-USD.P
edgeX MRNAUSDC
SoDEX MRNA-USD
Lighter MRNA