Funding arb · Price arb /

MRVL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0891%/8h= −97.6% APRpaid last 24h −0.010%

Price spread now: Bitget against Ondo Perps+0.122%7-day average +0.083% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.122%, 7d avg +0.083%

Together, before fees−0.016%+ Points / potential airdropOndo Perps: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.039% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of +0.083%): +$4 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 4 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MRVL-USD.P	253.64	0.0050	pay 0.0006% / 1h	26m 38s	$556K	$743K	10x
Short	Bitget MRVLUSDT	253.95	−0.0841	pay 0.0841% / 8h	2h 26m	$5.5M	$16.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Ondo PerpsbpFee BitgetbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$187.19
Price spread: +0.122% → +0.083%: $3.9
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$200.29
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 2 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	1.97 bp	11.6 bp −$12	16.9 bp −$169	33.5 bp −$3,355	93.2 bp −$46.6K

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MRVL on 32 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
Bitget MRVLUSDTshort	−0.0841%	8h	253.95	+0.122%	$5.5M	$16.7M	20x
BloFin MRVL-USDT	−0.0012%	8h	253.80	+0.063%	$366K	$177K	50x	as long as short
Aster MRVLUSDT	0.0000%	8h	253.78	+0.056%	$299K	$341K	50x	as long as short
Extended MRVL-USD	0.0000%	1h	253.65	+0.004%	$47K	$268K	10x	as long as short
Binance MRVLUSDT	0.0000%	8h	253.80	+0.062%	$23.5M	$111.4M	50x	as long as short
Bybit MRVLUSDT	0.0000%	8h	253.61	−0.012%	$5.0M	$4.0M	50x	as long as short
OKX MRVL-USDT-SWAP	0.0000%	8h	253.74	+0.039%	$6.7M	$23.3M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	253.78	+0.055%	$5.3M	$8.4M	50x	as long as short
Variational Omni MRVL	0.0000%	8h	254.22	+0.227%	$705K	$491K	—	as long as short
GRVT MRVL_USDT_Perp	0.0000%	8h	254.58	+0.369%	$1K	$191K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MRVL-USDT	0.0000%	8h	253.71	+0.028%	$2K	$6.0M	10x	as long as short
Deribit MRVL_USDC-PERPETUAL	0.0000%	1h	253.62	−0.008%	$22K	$144K	10x	as long as short
HTX MRVL-USDT	0.0000%	8h	253.64	0.000%	$128K	$43K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0019%	1h	254.32	+0.267%	$590	$48K	10x	as long as short
QFEX MRVL-USD	+0.0030%	1h	253.65	+0.004%	$1.1M	$3.5M	10x	as long as short
Lighter MRVL	+0.0032%	1h	253.67	+0.012%	$88K	$201K	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	253.87	+0.091%	$23K	$27K	5x	as long as short
Vest MRVL-USD-PERP	+0.0046%	1h	253.95	+0.122%	—	$50K	25x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	253.62	−0.008%	$13.9M	$8.8M	10x	as long as short
Polymarket Perps MRVL-USD	+0.0050%	1h	253.50	−0.055%	$101K	$80K	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	253.76	+0.047%	$178	$15K	10x	as long as short
Ondo Perps MRVL-USD.Plong	+0.0050%	1h	253.64	long leg	$556K	$743K	10x
Paradex MRVL-USD-PERP	+0.0052%	8h	253.63	−0.005%	—	—	5x	as long as short
Nado MRVL-PERP	+0.0082%	1h	253.69	+0.020%	$86K	$272K	10x	as long as short
Coinbase International MRVL-PERP-INTX	+0.0096%	1h	253.60	−0.016%	$318K	$634K	10x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	254.29	+0.256%	$4K	$140K	50x	as long as short
Orderly PERP_MRVL_USDC_mythos	+0.0100%	8h	253.64	0.000%	$2K	$3K	10x	as long as short
KuCoin MRVLUSDTM	+0.0103%	8h	253.88	+0.095%	$502K	$63K	20x	as long as short
Aevo MRVL-PERP	+0.0104%	1h	253.62	−0.008%	$18	—	10x	as long as short
Phoenix MRVL	+0.0157%	1h	254.67	+0.406%	$11K	$12K	10x	as long as short
Injective MRVL/USDC PERP	+0.0220%	1h	258.64	+1.971%	$11K	$735	12x	as long as short
edgeX MRVLUSDC	+0.0960%	4h	254.58	+0.372%	$36K	$372K	10x	as long as short