Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0218%/8h= +23.8% APRpaid last 24h +0.202%

Price spread now: SoDEX against Bybit−0.012%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 SoDEX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$7 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	172.73	0	get 0.0000% / 8h	1h 47m	$935K	$1.0M	25x
Short	SoDEX MRNA-USD	172.71	0.0218	get 0.0027% / 1h	47m 48s	$40K	$75K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.012%Rate

Funding earned: $45.69
Price spread: −0.012% → 0.000%: −$1.16
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $25.53
Costs to cover: 0.190%
Break-even: 3.1 days

Slippage unknown: Bybit: live order book, 3 min ago; SoDEX: 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, 3 min ago	4.63 bp	38.3 bp −$38	532.8 bp −$5,328	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0149%	4h	172.80	+0.042%	$3K	$243K	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.52	−0.122%	$1.1M	$2.6M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.68	−0.027%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.81	+0.048%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDTlong	0.0000%	8h	172.73	long leg	$935K	$1.0M	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	172.69	−0.023%	$1.4M	$4.9M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.69	−0.023%	$881K	$1.1M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.71	−0.012%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.79	+0.035%	$49K	$98K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.84	+0.064%	$785	$169K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRNA-USDT	0.0000%	8h	172.72	−0.006%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.79	+0.035%	$1.6M	$637K	20x	as long as short
BloFin MRNA-USDT	+0.0015%	8h	172.87	+0.081%	$44K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.169%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.64	−0.052%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.58	−0.087%	$43K	$39K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0063%	1h	172.68	−0.029%	$2.6M	$4.2M	10x	as long as short
Extended MRNA-USD	+0.0072%	1h	172.61	−0.072%	$32K	$32K	10x	as long as short
Lighter MRNA	+0.0176%	1h	172.79	+0.035%	$124K	$1.0M	10x	as long as short
SoDEX MRNA-USDshort	+0.0218%	1h	172.71	−0.012%	$40K	$75K	10x
Phoenix MRNA	+0.0324%	1h	172.78	+0.029%	$5K	$192K	10x	as long as short