Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.017%

Price spread now: Binance against Arcus+0.231%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Binance is 0.231% dearer against Arcus than usual: you sell high and buy low (spread +0.231% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MRNA-USD	172.19	0.0040	pay 0.0005% / 1h	12m 10s	$2K	$65K	10x
Short	Binance MRNAUSDT	172.59	0	get 0.0000% / 8h	2h 12m	$2.1M	$11.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Arcus. 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 ArcusbpFee BinancebpOrdersPrice spread, now +0.231%Rate

Funding earned: −$8.46
Price spread: +0.231% → 0.000%: $23.07
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Binance: 5 bp × 2 orders: −$10
Net: $0.11
Costs to cover: 0.145%
Break-even: from the start

Slippage unknown: Arcus: no order-book sample; Binance: live order book, 13 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 Arcus no order-book sample	—	—	—	—	—
Sell Binance live order book, 13 min ago	1.45 bp	11.9 bp −$12	43.1 bp −$431	doesn't fit	doesn't fit

Arcus: 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.

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	−0.1160%	1h	172.63	+0.256%	$156K	$1.2M	10x	as long as short
BloFin MRNA-USDT	−0.0012%	8h	172.19	0.000%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.40	+0.124%	$26K	$83K	20x	as long as short
Binance MRNAUSDTshort	0.0000%	8h	172.59	+0.231%	$2.1M	$11.4M	20x
Bybit MRNAUSDT	0.0000%	8h	172.56	+0.215%	$937K	$621K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.46	+0.157%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.45	+0.151%	$861K	$999K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.44	+0.145%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.33	+0.079%	$56K	$96K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.24	+0.028%	$2	$148K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRNA-USDT	0.0000%	8h	172.51	+0.187%	$13K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.52	+0.192%	$1.6M	$654K	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.32	+0.075%	$1.1M	$2.5M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.881%	$18K	$8K	12x	as long as short
Arcus MRNA-USDlong	+0.0040%	1h	172.19	long leg	$2K	$65K	10x
Extended MRNA-USD	+0.0048%	1h	172.47	+0.162%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.50	+0.180%	$2.5M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.19	0.000%	$42K	$35K	5x	as long as short
SoDEX MRNA-USD	+0.0168%	1h	172.43	+0.139%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0185%	1h	172.18	−0.006%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0794%	4h	172.27	+0.047%	$3K	$249K	10x	as long as short