Funding arb · Price arb /

MRVL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0085%/8h= +9.3% APRpaid last 24h +0.018%

Price spread now: Phoenix against Orderly−0.047%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.047% cheaper against Orderly than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 44 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MRVL_USDC_mythos	257.80	0.0100	pay 0.0100% / 8h	3h 42m	$2K	$3K	10x
Short	Phoenix MRVL	257.68	0.0185	get 0.0023% / 1h	42m 32s	$11K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 OrderlybpFee PhoenixbpOrdersPrice spread, now −0.047%Rate

Funding earned: $17.86
Price spread: −0.047% → 0.000%: −$4.65
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $0.2
Costs to cover: 0.130%
Break-even: 6.9 days

Slippage unknown: Orderly: no order-book sample; Phoenix: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Orderly and Phoenix: 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
BloFin MRVL-USDT	−0.0011%	8h	257.72	−0.031%	$370K	$171K	50x	as long as short
Aster MRVLUSDT	0.0000%	8h	257.88	+0.033%	$309K	$331K	50x	as long as short
Extended MRVL-USD	0.0000%	1h	257.68	−0.045%	$46K	$343K	10x	as long as short
Binance MRVLUSDT	0.0000%	8h	257.75	−0.020%	$23.7M	$108.8M	50x	as long as short
Bybit MRVLUSDT	0.0000%	8h	257.73	−0.027%	$5.1M	$3.9M	50x	as long as short
OKX MRVL-USDT-SWAP	0.0000%	8h	257.73	−0.027%	$6.9M	$22.5M	50x	as long as short
Gate MRVL_USDT	0.0000%	8h	257.81	+0.004%	$5.5M	$8.1M	50x	as long as short
Bitget MRVLUSDT	0.0000%	8h	257.87	+0.027%	$5.5M	$16.2M	20x	as long as short
Variational Omni MRVL	0.0000%	8h	257.94	+0.056%	$715K	$633K	—	as long as short
GRVT MRVL_USDT_Perp	0.0000%	8h	257.81	+0.005%	$820	$190K	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	257.76	−0.016%	$1K	$6.1M	10x	as long as short
Deribit MRVL_USDC-PERPETUAL	0.0000%	1h	257.77	−0.012%	$22K	$144K	10x	as long as short
HTX MRVL-USDT	0.0000%	8h	257.78	−0.008%	$130K	$42K	50x	as long as short
Aftermath Perps MRVLUSD	+0.0019%	1h	257.95	+0.059%	$599	$49K	10x	as long as short
QFEX MRVL-USD	+0.0025%	1h	257.66	−0.054%	$1.1M	$3.6M	10x	as long as short
Lighter MRVL	+0.0032%	1h	257.75	−0.019%	$89K	$203K	10x	as long as short
Arcus MRVL-USD	+0.0040%	1h	257.61	−0.074%	$25K	$26K	5x	as long as short
Vest MRVL-USD-PERP	+0.0046%	1h	257.99	+0.074%	—	$50K	25x	as long as short
Nado MRVL-PERP	+0.0047%	1h	257.73	−0.028%	$88K	$272K	10x	as long as short
tradeXYZ xyz:MRVL	+0.0050%	1h	257.61	−0.074%	$14.4M	$8.4M	10x	as long as short
Polymarket Perps MRVL-USD	+0.0050%	1h	257.60	−0.078%	$102K	$80K	10x	as long as short
SoDEX MRVL-USD	+0.0050%	1h	257.74	−0.023%	$175	$15K	10x	as long as short
Ondo Perps MRVL-USD.P	+0.0050%	1h	257.52	−0.109%	$573K	$721K	10x	as long as short
Paradex MRVL-USD-PERP	+0.0053%	8h	257.74	−0.023%	—	—	5x	as long as short
Coinbase International MRVL-PERP-INTX	+0.0088%	1h	257.42	−0.147%	$331K	$625K	10x	as long as short
KuCoin MRVLUSDTM	+0.0100%	8h	258.05	+0.097%	$510K	$61K	20x	as long as short
ApeX Omni MRVLUSDT	+0.0100%	1h	257.84	+0.016%	$4K	$141K	50x	as long as short
Orderly PERP_MRVL_USDC_mythoslong	+0.0100%	8h	257.80	long leg	$2K	$3K	10x
Aevo MRVL-PERP	+0.0104%	1h	257.82	+0.006%	$18	—	10x	as long as short
Phoenix MRVLshort	+0.0185%	1h	257.68	−0.047%	$11K	$12K	10x
Injective MRVL/USDC PERP	+0.0220%	1h	261.65	+1.493%	$11K	$734	12x	as long as short
edgeX MRVLUSDC	+0.0862%	4h	258.02	+0.083%	$36K	$373K	10x	as long as short