Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.134%

Price spread now: SoDEX against Bitget+0.017%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MRNAUSDT	172.55	0	get 0.0000% / 8h	21m 51s	$2.6M	$10.4M	20x
Short	SoDEX MRNA-USD	172.58	0.0116	get 0.0014% / 1h	21m 51s	$40K	$66K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.017%Rate

Funding earned: $24.29
Price spread: +0.017% → 0.000%: $1.74
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $6.03
Costs to cover: 0.200%
Break-even: 5.3 days

Slippage unknown: Bitget: live order book, 2 min ago; SoDEX: 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 Bitget live order book, 2 min ago	4.93 bp	13.6 bp −$14	21.1 bp −$211	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0808%	4h	172.70	+0.090%	$3K	$244K	10x	as long as short
BloFin MRNA-USDT	−0.0029%	8h	172.77	+0.127%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.53	−0.009%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.65	+0.058%	$2.2M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.70	+0.087%	$933K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.80	+0.145%	$1.4M	$5.0M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.55	0.000%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.61	+0.035%	$879K	$1.1M	20x	as long as short
Bitget MRNAUSDTlong	0.0000%	8h	172.55	long leg	$2.6M	$10.4M	20x
Variational Omni MRNA	0.0000%	8h	172.70	+0.084%	$49K	$89K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MRNA_USDT_Perp	0.0000%	8h	172.73	+0.106%	$592	$164K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.58	+0.015%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.60	+0.029%	$1.6M	$645K	20x	as long as short
Lighter MRNA	+0.0032%	1h	172.64	+0.052%	$124K	$1.0M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.073%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.47	−0.046%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.52	−0.017%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.52	−0.017%	$2.6M	$4.2M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.50	−0.029%	$43K	$39K	5x	as long as short
SoDEX MRNA-USDshort	+0.0116%	1h	172.58	+0.017%	$40K	$66K	10x
Phoenix MRNA	+0.0232%	1h	172.70	+0.087%	$5K	$191K	10x	as long as short