Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h +0.063%

Price spread now: Lighter against BloFin+0.099%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.099% dearer against BloFin than usual: you sell high and buy low (spread +0.099% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MRNA-USDT	172.49	−0.0009	get 0.0009% / 8h	1h 45m	$45K	$29K	20x
Short	Lighter MRNA	172.66	−0.0248	pay 0.0031% / 1h	45m 09s	$156K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$50.26
Price spread: +0.099% → 0.000%: $9.86
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$52.41
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; Lighter: live order book, 1 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 BloFin no order-book sample	—	—	—	—	—
Sell Lighter live order book, 1 min ago	2.03 bp	3.6 bp −$4	32.5 bp −$325	187.5 bp −$18.7K	doesn't fit

BloFin: 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 MRNAshort	−0.0248%	1h	172.66	+0.099%	$156K	$1.2M	10x
BloFin MRNA-USDTlong	−0.0009%	8h	172.49	long leg	$45K	$29K	20x
Aster MRNAUSDT	0.0000%	8h	172.59	+0.059%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.54	+0.029%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.56	+0.041%	$937K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.43	−0.035%	$1.3M	$5.4M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.32	−0.099%	$1.1M	$2.5M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.41	−0.046%	$861K	$994K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.48	−0.006%	$2.6M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.48	−0.003%	$56K	$94K	—	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	172.55	+0.035%	$550	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.57	+0.048%	$13K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.49	0.000%	$1.6M	$655K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.041%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.32	−0.099%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.39	−0.059%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.53	+0.023%	$2.5M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.21	−0.162%	$43K	$35K	5x	as long as short
SoDEX MRNA-USD	+0.0114%	1h	172.49	0.000%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0232%	1h	172.24	−0.145%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0619%	4h	172.52	+0.017%	$3K	$249K	10x	as long as short