Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.005%

Price spread now: Variational Omni against Arcus+0.165%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.165% dearer against Arcus than usual: you sell high and buy low (spread +0.165% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MRNA-USD	172.99	0.0040	pay 0.0005% / 1h	39m 54s	$2K	$65K	10x
Short	Variational Omni MRNA	173.28	0	get 0.0000% / 8h	39m 54s	$57K	$94K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.165%Rate

Funding earned: −$8.46
Price spread: +0.165% → 0.000%: $16.54
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $3.59
Costs to cover: 0.045%
Break-even: from the start

Slippage unknown: Arcus: no order-book sample; Variational Omni: 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 Arcus no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Arcus and Variational Omni: 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
edgeX MRNAUSDC	−0.0516%	4h	173.25	+0.152%	$3K	$249K	10x	as long as short
BloFin MRNA-USDT	−0.0005%	8h	173.35	+0.208%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.11	+0.070%	$26K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.27	+0.161%	$2.1M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.18	+0.110%	$940K	$603K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.39	+0.231%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.22	+0.133%	$884K	$966K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.25	+0.150%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNAshort	0.0000%	8h	173.28	+0.165%	$57K	$94K	—
GRVT MRNA_USDT_Perp	0.0000%	8h	173.25	+0.148%	$438	$144K	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	173.19	+0.114%	$14K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.19	+0.116%	$1.6M	$639K	20x	as long as short
QFEX MRNA-USD	+0.0001%	1h	173.26	+0.156%	$1.1M	$2.5M	10x	as long as short
Lighter MRNA	+0.0032%	1h	173.47	+0.277%	$156K	$1.2M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.307%	$18K	$8K	12x	as long as short
Arcus MRNA-USDlong	+0.0040%	1h	172.99	long leg	$2K	$65K	10x
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.24	+0.145%	$43K	$35K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0088%	1h	173.13	+0.081%	$2.6M	$4.4M	10x	as long as short
Extended MRNA-USD	+0.0096%	1h	173.09	+0.059%	$32K	$32K	10x	as long as short
SoDEX MRNA-USD	+0.0216%	1h	173.16	+0.098%	$40K	$55K	10x	as long as short
Phoenix MRNA	+0.0230%	1h	173.25	+0.150%	$5K	$191K	10x	as long as short