Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.131%

Price spread now: SoDEX against BloFin−0.046%56s7-day average — · you buy dearer than you sell

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

Long on BloFin 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

Funding pays, the price is against you. SoDEX is 0.046% cheaper against BloFin than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 22 hours of funding at the current rate (+$5 a day). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MRNA-USDT	172.83	−0.0006	get 0.0006% / 8h	41m 36s	$44K	$29K	20x
Short	SoDEX MRNA-USD	172.75	0.0162	get 0.0020% / 1h	41m 36s	$40K	$66K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $35.22
Price spread: −0.046% → 0.000%: −$4.63
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $10.59
Costs to cover: 0.200%
Break-even: 4.9 days

Slippage unknown: BloFin: no order-book sample; 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 BloFin no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

BloFin and 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	−0.0953%	4h	172.71	−0.069%	$3K	$245K	10x	as long as short
BloFin MRNA-USDTlong	−0.0006%	8h	172.83	long leg	$44K	$29K	20x
Aster MRNAUSDT	0.0000%	8h	172.61	−0.126%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.78	−0.029%	$2.2M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.70	−0.075%	$933K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.86	+0.017%	$1.4M	$5.0M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.74	−0.052%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.67	−0.093%	$879K	$1.1M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.68	−0.087%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.73	−0.056%	$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	−0.058%	$624	$165K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.85	+0.014%	$12K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.83	0.000%	$1.6M	$645K	20x	as long as short
Lighter MRNA	+0.0032%	1h	172.76	−0.041%	$124K	$1.0M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.222%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.62	−0.122%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.66	−0.098%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.67	−0.093%	$2.6M	$4.2M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.57	−0.150%	$43K	$39K	5x	as long as short
SoDEX MRNA-USDshort	+0.0162%	1h	172.75	−0.046%	$40K	$66K	10x
Phoenix MRNA	+0.0232%	1h	172.68	−0.087%	$5K	$191K	10x	as long as short