Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.026%

Price spread now: Phemex against Bitget+0.087%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1141.137% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 3 days (all we have)+0.105%+$10 · spread now +0.087%, 7d avg +0.020%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.067% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MRNAUSDT	172.86	0	get 0.0000% / 8h	2h 14m	$2.6M	$10.4M	20x
Short	Phemex MRNAUSDT	173.01	0	get 0.0000% / 8h	2h 14m	$1.6M	$633K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.087%Rate

Funding earned: $0
Price spread: +0.087% → +0.020%: $6.72
Slippage, 4 orders: −$89.67
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$106.95
Costs to cover: 1.137%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Phemex: live order book, 4 min ago.

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 Bitget live order book, 4 min ago	6.08 bp	19.1 bp −$19	27.6 bp −$276	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.89 bp	39.3 bp −$39	doesn't fit	doesn't fit	doesn't fit

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
Aster MRNAUSDT	0.0000%	8h	173.01	+0.084%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.07	+0.121%	$2.2M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.99	+0.075%	$936K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.97	+0.064%	$1.4M	$4.9M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.78	−0.046%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.93	+0.040%	$882K	$1.1M	20x	as long as short
Bitget MRNAUSDTlong	0.0000%	8h	172.86	long leg	$2.6M	$10.4M	20x
Variational Omni MRNA	0.0000%	8h	173.02	+0.091%	$28K	$77K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.11	+0.143%	$2	$172K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.99	+0.072%	$12K	$429K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDTshort	0.0000%	8h	173.01	+0.087%	$1.6M	$633K	20x
BloFin MRNA-USDT	+0.0022%	8h	172.94	+0.046%	$44K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.238%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.91	+0.029%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.84	−0.012%	$43K	$39K	5x	as long as short
Lighter MRNA	+0.0104%	1h	173.08	+0.127%	$125K	$1.0M	10x	as long as short
Extended MRNA-USD	+0.0152%	1h	172.98	+0.067%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0155%	1h	172.99	+0.075%	$2.6M	$4.2M	10x	as long as short
Phoenix MRNA	+0.0185%	1h	172.97	+0.064%	$5K	$192K	10x	as long as short
edgeX MRNAUSDC	+0.0248%	4h	172.99	+0.074%	$3K	$243K	10x	as long as short
SoDEX MRNA-USD	+0.0489%	1h	173.03	+0.098%	$69	$55K	10x	as long as short