Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0185%/8h= +20.3% APRpaid last 24h +0.082%

Price spread now: Phoenix against Aster−0.043%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.542%+$54 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.043% cheaper against Aster than usual: you would sell low and buy high (spread −0.043% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 18 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MRNAUSDT	172.67	0	get 0.0000% / 8h	2h 22m	$29K	$80K	20x
Short	Phoenix MRNA	172.60	0.0185	get 0.0023% / 1h	22m 59s	$5K	$192K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.043%Rate

Funding earned: $38.92
Price spread: −0.043% → 0.000%: −$4.26
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $19.66
Costs to cover: 0.150%
Break-even: 3.5 days

Slippage unknown: Aster: no order-book sample; Phoenix: live order book, 60 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 Aster no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 60 min ago	2.89 bp	17.9 bp −$18	53.7 bp −$537	doesn't fit	doesn't fit

Aster: 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
BloFin MRNA-USDT	−0.0004%	8h	172.93	+0.149%	$44K	$29K	20x	as long as short
Aster MRNAUSDTlong	0.0000%	8h	172.67	long leg	$29K	$80K	20x
Binance MRNAUSDT	0.0000%	8h	172.98	+0.178%	$2.2M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.96	+0.166%	$938K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.06	+0.224%	$1.4M	$4.9M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.50	−0.101%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.89	+0.125%	$882K	$1.1M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.87	+0.114%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.76	+0.049%	$34K	$70K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.75	+0.044%	$7	$174K	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	172.55	−0.070%	$13K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.96	+0.166%	$1.6M	$627K	20x	as long as short
Lighter MRNA	+0.0032%	1h	172.82	+0.085%	$124K	$1.0M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.139%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.69	+0.010%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.74	+0.036%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.75	+0.044%	$2.6M	$4.1M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.66	−0.008%	$42K	$39K	5x	as long as short
Phoenix MRNAshort	+0.0185%	1h	172.60	−0.043%	$5K	$192K	10x
SoDEX MRNA-USD	+0.0198%	1h	172.88	+0.120%	$62	$55K	10x	as long as short
edgeX MRNAUSDC	+0.0593%	4h	172.76	+0.052%	$3K	$241K	10x	as long as short