Funding you earn now, next payment 06:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h −0.045%
Price spread now: tradeXYZ against Phoenix−0.110%81s7-day average −0.058% · you buy dearer than you sell
Net, funding: paid 7d − costs−$112as 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−$790.790% of the position
Funding, last 7 days−0.326%−$33 on $10k
+Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.110%, 7d avg −0.058%
=Together, before fees−0.232%+ Points / potential airdroptradeXYZ: Active · farm board−$23 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and tradeXYZ is 0.052% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.058%). Swap the legs. The two prices were read 81 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 | 172.50 | 0.0232 | pay 0.0029% / 1h | 38m 06s | $5K | $191K | 10x |
| Short | tradeXYZ xyz:MRNA | 172.31 | 0.0050 | get 0.0006% / 1h | 38m 06s | $2.5M | $4.5M | 10x |
Phoenix MRNA
tradeXYZ xyz:MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$38.19
- Price spread: −0.110% → −0.058%
- −$5.21
- Slippage, 4 orders
- −$53.98
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$122.38
- Costs to cover
- 0.790%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 63 min ago; tradeXYZ: live order book, 10 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, 63 min ago | 4.04 bp | 22.1 bp −$22 | 91.4 bp −$914 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 10 min ago | 1.16 bp | 14.6 bp −$15 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter MRNA | −0.0120% | 1h | 172.64 | +0.081% | $156K | $1.2M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.48 | −0.014% | $26K | $83K | 20x | as long as short |
| Binance MRNAUSDT | 0.0000% | 8h | 172.49 | −0.007% | $2.1M | $11.4M | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.52 | +0.012% | $937K | $620K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.47 | −0.017% | $1.3M | $5.4M | 20x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.40 | −0.058% | $1.1M | $2.5M | 10x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.44 | −0.035% | $861K | $994K | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.48 | −0.012% | $2.6M | $10.6M | 20x | as long as short |
| Variational Omni MRNA | 0.0000% | 8h | 172.49 | −0.003% | $56K | $94K | — | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.55 | +0.029% | $550 | $147K | 10x | as long as short |
Lighter MRNA
Aster MRNAUSDT
Binance MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
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 | 172.44 | −0.035% | $13K | $431K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.51 | +0.006% | $1.6M | $653K | 20x | as long as short |
| BloFin MRNA-USDT | +0.0009% | 8h | 172.63 | +0.075% | $45K | $29K | 20x | as long as short |
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.046% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.36 | −0.081% | $2K | $65K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.29 | −0.119% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNAshort | +0.0050% | 1h | 172.31 | −0.110% | $2.5M | $4.5M | 10x | |
| SoDEX MRNA-USD | +0.0050% | 1h | 172.44 | −0.035% | $40K | $56K | 10x | as long as short |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.29 | −0.122% | $43K | $35K | 5x | as long as short |
| edgeX MRNAUSDC | +0.0104% | 4h | 172.50 | +0.001% | $3K | $248K | 10x | as long as short |
| Phoenix MRNAlong | +0.0232% | 1h | 172.50 | long leg | $5K | $191K | 10x |
HTX MRNA-USDT
Phemex MRNAUSDT
BloFin MRNA-USDT
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
SoDEX MRNA-USD
Ondo Perps MRNA-USD.P
edgeX MRNAUSDC