Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Arcus against Bybit−0.149%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Arcus

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. Arcus is 0.149% cheaper against Bybit than usual: you would sell low and buy high (spread −0.149% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 12 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MRNAUSDT	174.12	0	get 0.0000% / 8h	7h 36m	$946K	$1.0M	25x
Short	Arcus MRNA-USD	173.86	0.0040	get 0.0005% / 1h	36m 05s	$2K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now −0.149%Rate

Funding earned: $8.46
Price spread: −0.149% → 0.000%: −$14.93
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$21.97
Costs to cover: 0.155%
Break-even: 25.2 days

Slippage unknown: Bybit: live order book, 4 min ago; Arcus: 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 Bybit live order book, 4 min ago	7.18 bp	51.0 bp −$51	465.3 bp −$4,653	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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	−0.0174%	4h	173.87	−0.142%	$3K	$245K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.65	−0.269%	$29K	$81K	20x	as long as short
Bybit MRNAUSDTlong	0.0000%	8h	174.12	long leg	$946K	$1.0M	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	174.11	−0.006%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.92	−0.115%	$1.1M	$2.7M	10x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.96	−0.092%	$2.7M	$10.5M	20x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.82	−0.173%	$12K	$428K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	174.17	+0.029%	$1.6M	$646K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.902%	$18K	$8K	12x	as long as short
Arcus MRNA-USDshort	+0.0040%	1h	173.86	−0.149%	$2K	$65K	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MRNA	+0.0045%	8h	174.03	−0.053%	$49K	$89K	—	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.61	−0.293%	$43K	$39K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0060%	1h	174.12	0.000%	$2.6M	$4.2M	10x	as long as short
Extended MRNA-USD	+0.0064%	1h	173.96	−0.092%	$32K	$32K	10x	as long as short
Binance MRNAUSDT	+0.0094%	8h	174.13	+0.007%	$2.2M	$11.4M	20x	as long as short
BloFin MRNA-USDT	+0.0112%	8h	173.94	−0.103%	$44K	$29K	20x	as long as short
Gate MRNA_USDT	+0.0217%	8h	173.97	−0.086%	$876K	$1.1M	20x	as long as short
Phoenix MRNA	+0.0231%	1h	174.04	−0.046%	$5K	$193K	10x	as long as short
SoDEX MRNA-USD	+0.1601%	1h	173.97	−0.086%	$40K	$66K	10x	as long as short
Lighter MRNA	+0.1824%	1h	174.03	−0.052%	$123K	$1.0M	10x	as long as short
GRVT MRNA_USDT_Perp	+0.2665%	8h	173.89	−0.132%	$289	$159K	10x	as long as short