Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Bybit+0.006%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MRNAUSDT	172.14	0	get 0.0000% / 8h	6h 40m	$933K	$1.0M	25x
Short	Ondo Perps MRNA-USD.P	172.15	0.0050	get 0.0006% / 1h	40m 30s	$43K	$39K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.006%Rate

Funding earned: $10.58
Price spread: +0.006% → 0.000%: $0.58
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$4.84
Costs to cover: 0.160%
Break-even: 10.2 days

Slippage unknown: Bybit: live order book, 5 min ago; Ondo Perps: 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, 5 min ago	4.64 bp	44.7 bp −$45	547.5 bp −$5,475	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Lighter MRNA	−0.0712%	1h	172.22	+0.046%	$109K	$1.1M	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.13	−0.006%	$1.2M	$2.7M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.19	+0.031%	$28K	$81K	20x	as long as short
Bybit MRNAUSDTlong	0.0000%	8h	172.14	long leg	$933K	$1.0M	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	172.09	−0.029%	$1.3M	$5.2M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.21	+0.041%	$862K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.04	−0.058%	$2.6M	$10.6M	20x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.07	−0.040%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.18	+0.023%	$1.6M	$649K	20x	as long as short
edgeX MRNAUSDC	+0.0027%	4h	172.34	+0.117%	$3K	$245K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.854%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.13	−0.006%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.05	−0.049%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.07	−0.041%	$2.6M	$4.4M	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	172.13	−0.006%	$40K	$66K	10x	as long as short
Ondo Perps MRNA-USD.Pshort	+0.0050%	1h	172.15	+0.006%	$43K	$39K	5x
GRVT MRNA_USDT_Perp	+0.0057%	8h	172.26	+0.068%	$224	$154K	10x	as long as short
Variational Omni MRNA	+0.0091%	8h	172.16	+0.011%	$49K	$89K	—	as long as short
Binance MRNAUSDT	+0.0121%	8h	172.12	−0.012%	$2.1M	$11.5M	20x	as long as short
BloFin MRNA-USDT	+0.0133%	8h	172.49	+0.203%	$45K	$29K	20x	as long as short
Phoenix MRNA	+0.0279%	1h	172.33	+0.110%	$5K	$193K	10x	as long as short