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 +0.017%

Price spread now: Gate against Bybit+0.040%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2242.236% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now +0.040%, 7d avg −0.008%

Together, before fees+0.111%+$11 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: Gate is 0.048% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MRNAUSDT	173.73	0	get 0.0000% / 8h	3h 52m	$946K	$615K	25x
Short	Gate MRNA_USDT	173.80	0	get 0.0000% / 8h	3h 52m	$869K	$996K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → −0.008%: $4.84
Slippage, 4 orders: −$197.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$218.75
Costs to cover: 2.236%
Break-even: never at this rate

Slippage from Bybit: live order book, 27 min ago; Gate: live order book, 9 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, 27 min ago	4.61 bp	45.8 bp −$46	747.2 bp −$7,472	doesn't fit	doesn't fit
Sell Gate live order book, 9 min ago	6.34 bp	118.6 bp −$119	1539.4 bp −$15.4K	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	−0.0547%	4h	173.85	+0.071%	$3K	$246K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.73	−0.003%	$28K	$82K	20x	as long as short
Bybit MRNAUSDTlong	0.0000%	8h	173.73	long leg	$946K	$615K	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	173.68	−0.029%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.57	−0.092%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDTshort	0.0000%	8h	173.80	+0.040%	$869K	$996K	20x
Bitget MRNAUSDT	0.0000%	8h	173.81	+0.046%	$2.8M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.93	+0.118%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.78	+0.029%	$749	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.72	−0.003%	$14K	$431K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	173.90	+0.098%	$1.6M	$642K	20x	as long as short
Binance MRNAUSDT	+0.0020%	8h	173.91	+0.101%	$2.2M	$11.3M	20x	as long as short
BloFin MRNA-USDT	+0.0030%	8h	173.85	+0.069%	$45K	$29K	20x	as long as short
Lighter MRNA	+0.0032%	1h	173.91	+0.104%	$158K	$1.1M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.697%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.65	−0.046%	$2K	$63K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.74	+0.006%	$43K	$35K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0069%	1h	173.69	−0.023%	$2.7M	$4.4M	10x	as long as short
Extended MRNA-USD	+0.0072%	1h	173.67	−0.034%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0277%	1h	173.69	−0.023%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0469%	1h	173.85	+0.069%	$40K	$56K	10x	as long as short