MRNA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.029%

Price spread now: Binance against Bybit−0.019%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1531.533% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 2 days (all we have)+0.082%+$8 · spread now −0.019%, 7d avg +0.035%

Together, before fees+0.112%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.053% cheaper against Bybit than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.035%). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.029% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MRNAUSDT	172.69	0	get 0.0000% / 8h	6h 20m	$936K	$741K	25x
Short	Binance MRNAUSDT	172.66	0.0100	get 0.0100% / 8h	6h 20m	$2.1M	$11.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.019%Rate

Funding earned: $20.96
Price spread: −0.019% → +0.035%: −$5.34
Slippage, 4 orders: −$132.32
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$137.69
Costs to cover: 1.533%
Break-even: 53.0 days

Slippage from Bybit: live order book, 10 min ago; Binance: live order book, 5 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 Bybit live order book, 10 min ago	4.65 bp	47.4 bp −$47	790.9 bp −$7,909	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	2.03 bp	16.4 bp −$16	43.3 bp −$433	doesn't fit	doesn't fit

MRNA on 20 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 MRNA	−0.0688%	1h	172.51	−0.104%	$104K	$1.1M	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.45	−0.139%	$1.1M	$2.7M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.62	−0.042%	$28K	$81K	20x	as long as short
Bybit MRNAUSDTlong	0.0000%	8h	172.69	long leg	$936K	$741K	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	172.71	+0.012%	$1.3M	$5.3M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.47	−0.127%	$863K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.64	−0.029%	$2.6M	$10.6M	20x	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.33	−0.208%	$233	$152K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.52	−0.097%	$12K	$428K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.65	−0.023%	$1.6M	$648K	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.148%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.35	−0.197%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.54	−0.085%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.55	−0.081%	$2.6M	$4.4M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.22	−0.272%	$43K	$36K	5x	as long as short
Variational Omni MRNA	+0.0065%	8h	172.66	−0.016%	$49K	$89K	—	as long as short
Binance MRNAUSDTshort	+0.0100%	8h	172.66	−0.019%	$2.1M	$11.4M	20x
SoDEX MRNA-USD	+0.0104%	1h	172.58	−0.064%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0279%	1h	172.31	−0.220%	$5K	$193K	10x	as long as short
edgeX MRNAUSDC	+0.0860%	4h	172.35	−0.198%	$3K	$246K	10x	as long as short