Funding you earn now, next payment 01:00 UTC+0.0229%/8h= +25.0% APRnext payment +$0.29 per $10,000 · paid last 24h +0.044%
Price spread now: Phoenix against tradeXYZ+0.104%7-day average +0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$780.778% of the position
Funding, last 7 days+0.328%+$33 on $10k
+Price spread, last 4 days (all we have)+0.226%+$23 · spread now +0.104%, 7d avg +0.055%
=Together, before fees+0.554%+ Points / potential airdroptradeXYZ: Active · farm board+$55 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.049% dearer against tradeXYZ than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.055%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MRNA | 172.59 | 0.0050 | pay 0.0006% / 1h | 13m 21s | $2.6M | $4.4M | 10x |
| Short | Phoenix MRNA | 172.77 | 0.0279 | get 0.0035% / 1h | 13m 21s | $5K | $193K | 10x |
tradeXYZ xyz:MRNA
Phoenix MRNAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $48.01
- Price spread: +0.104% → +0.055%
- $4.94
- Slippage, 4 orders
- −$52.81
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$24.86
- Costs to cover
- 0.778%
- Break-even
- 10.6 days
Slippage from tradeXYZ: live order book, 5 min ago; Phoenix: live order book, 48 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 tradeXYZ live order book, 5 min ago | 1.45 bp | 17.7 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 48 min ago | 4.07 bp | 24.2 bp −$24 | 77.1 bp −$771 | doesn't fit | doesn't fit |
MRNA on 20 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 | −0.0496% | 1h | 172.66 | +0.041% | $104K | $1.1M | 10x | as long as short |
| QFEX MRNA-USD | 0.0000% | 1h | 172.57 | −0.012% | $1.1M | $2.7M | 10x | as long as short |
| Aster MRNAUSDT | 0.0000% | 8h | 172.55 | −0.021% | $28K | $81K | 20x | as long as short |
| Bybit MRNAUSDT | 0.0000% | 8h | 172.69 | +0.058% | $936K | $740K | 25x | as long as short |
| OKX MRNA-USDT-SWAP | 0.0000% | 8h | 172.50 | −0.052% | $1.3M | $5.3M | 20x | as long as short |
| Gate MRNA_USDT | 0.0000% | 8h | 172.62 | +0.017% | $865K | $1.0M | 20x | as long as short |
| Bitget MRNAUSDT | 0.0000% | 8h | 172.42 | −0.098% | $2.5M | $10.5M | 20x | as long as short |
| GRVT MRNA_USDT_Perp | 0.0000% | 8h | 172.63 | +0.024% | $392 | $151K | 10x | as long as short |
| HTX MRNA-USDT | 0.0000% | 8h | 172.34 | −0.143% | $12K | $429K | 20x | as long as short |
| Phemex MRNAUSDT | 0.0000% | 8h | 172.69 | +0.058% | $1.6M | $651K | 20x | as long as short |
Lighter MRNA
QFEX MRNA-USD
Aster MRNAUSDT
Bybit MRNAUSDT
OKX MRNA-USDT-SWAP
Gate MRNA_USDT
Bitget MRNAUSDT
GRVT MRNA_USDT_Perp
HTX MRNA-USDT
Phemex MRNAUSDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective MRNA/USDC PERP | +0.0033% | 1h | 158.62 | −8.094% | $18K | $8K | 12x | as long as short |
| Arcus MRNA-USD | +0.0040% | 1h | 172.54 | −0.029% | $2K | $64K | 10x | as long as short |
| Extended MRNA-USD | +0.0048% | 1h | 172.47 | −0.072% | $32K | $32K | 10x | as long as short |
| tradeXYZ xyz:MRNAlong | +0.0050% | 1h | 172.59 | long leg | $2.6M | $4.4M | 10x | |
| Ondo Perps MRNA-USD.P | +0.0050% | 1h | 172.48 | −0.064% | $43K | $36K | 5x | as long as short |
| Variational Omni MRNA | +0.0057% | 8h | 172.57 | −0.010% | $49K | $89K | — | as long as short |
| Binance MRNAUSDT | +0.0089% | 8h | 172.58 | −0.006% | $2.1M | $11.4M | 20x | as long as short |
| SoDEX MRNA-USD | +0.0152% | 1h | 172.50 | −0.052% | $40K | $56K | 10x | as long as short |
| Phoenix MRNAshort | +0.0279% | 1h | 172.77 | +0.104% | $5K | $193K | 10x | |
| edgeX MRNAUSDC | +0.0406% | 4h | 172.61 | +0.011% | $3K | $247K | 10x | as long as short |
Injective MRNA/USDC PERP
Arcus MRNA-USD
Extended MRNA-USD
Ondo Perps MRNA-USD.P
Variational Omni MRNA
Binance MRNAUSDT
SoDEX MRNA-USD
edgeX MRNAUSDC