Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.026%

Price spread now: Bitget against Bybit−0.122%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$850.855% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)+0.227%+$23 · spread now −0.122%, 7d avg +0.026%

Together, before fees+0.296%+$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.148% cheaper against Bybit than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MRNAUSDT	172.40	0	get 0.0000% / 8h	7h 08m	$935K	$1.0M	25x
Short	Bitget MRNAUSDT	172.19	0	get 0.0000% / 8h	7h 08m	$2.6M	$10.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.122%Rate

Funding earned: $0
Price spread: −0.122% → +0.026%: −$14.81
Slippage, 4 orders: −$62.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$100.31
Costs to cover: 0.855%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: 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, 2 min ago	6.09 bp	31.4 bp −$31	383.8 bp −$3,838	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	4.05 bp	17.6 bp −$18	27.7 bp −$277	doesn't fit	doesn't fit

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	−0.0702%	4h	172.52	+0.070%	$3K	$245K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.38	−0.011%	$29K	$81K	20x	as long as short
Bybit MRNAUSDTlong	0.0000%	8h	172.40	long leg	$935K	$1.0M	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	172.25	−0.087%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.19	−0.122%	$1.1M	$2.8M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.42	+0.012%	$865K	$1.1M	20x	as long as short
Bitget MRNAUSDTshort	0.0000%	8h	172.19	−0.122%	$2.6M	$10.6M	20x
HTX MRNA-USDT	0.0000%	8h	172.38	−0.009%	$12K	$428K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.35	−0.029%	$1.6M	$650K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.993%	$18K	$8K	12x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus MRNA-USD	+0.0040%	1h	172.51	+0.064%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.26	−0.083%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.27	−0.075%	$2.7M	$4.4M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.80	+0.232%	$43K	$39K	5x	as long as short
Variational Omni MRNA	+0.0137%	8h	172.50	+0.056%	$49K	$89K	—	as long as short
Binance MRNAUSDT	+0.0190%	8h	172.34	−0.037%	$2.1M	$11.5M	20x	as long as short
BloFin MRNA-USDT	+0.0217%	8h	172.34	−0.035%	$44K	$29K	20x	as long as short
Phoenix MRNA	+0.0231%	1h	172.84	+0.255%	$5K	$193K	10x	as long as short
SoDEX MRNA-USD	+0.0486%	1h	172.36	−0.023%	$40K	$66K	10x	as long as short
Lighter MRNA	+0.0648%	1h	172.56	+0.093%	$121K	$1.0M	10x	as long as short
GRVT MRNA_USDT_Perp	+0.1226%	8h	172.78	+0.220%	$219	$156K	10x	as long as short