Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0465%/8h= +50.9% APRpaid last 24h −0.025%

Price spread now: Arcus against edgeX−0.336%54s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Arcus is 0.336% cheaper against edgeX than usual: you would sell low and buy high (spread −0.336% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$34 on $10k: about 2.4 days of funding at the current rate (+$14 a day). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MRNAUSDC	173.82	−0.0425	get 0.0212% / 4h	1h 04m	$3K	$249K	10x
Short	Arcus MRNA-USD	173.24	0.0040	get 0.0005% / 1h	4m 36s	$2K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against edgeX. 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 edgeXbpFee ArcusbpOrdersPrice spread, now −0.336%Rate

Funding earned: $97.66
Price spread: −0.336% → 0.000%: −$33.64
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $50.52
Costs to cover: 0.135%
Break-even: 3.4 days

Slippage unknown: edgeX: live order book, 38 min ago; Arcus: 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 edgeX live order book, 38 min ago	2.61 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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 MRNAUSDClong	−0.0425%	4h	173.82	long leg	$3K	$249K	10x
BloFin MRNA-USDT	−0.0002%	8h	173.90	+0.043%	$45K	$30K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.72	−0.062%	$27K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.76	−0.037%	$2.1M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.66	−0.095%	$943K	$608K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.79	−0.020%	$1.3M	$5.5M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.61	−0.124%	$1.1M	$2.5M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.70	−0.072%	$867K	$997K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.59	−0.135%	$2.7M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.82	0.000%	$58K	$96K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MRNA_USDT_Perp	0.0000%	8h	173.79	−0.018%	$454	$145K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.67	−0.090%	$13K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.77	−0.031%	$1.6M	$645K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.747%	$18K	$8K	12x	as long as short
Arcus MRNA-USDshort	+0.0040%	1h	173.24	−0.336%	$2K	$65K	10x
Extended MRNA-USD	+0.0048%	1h	173.64	−0.108%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	173.65	−0.101%	$2.6M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.76	−0.037%	$43K	$36K	5x	as long as short
Phoenix MRNA	+0.0232%	1h	173.81	−0.008%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0302%	1h	173.71	−0.066%	$40K	$57K	10x	as long as short
Lighter MRNA	+0.0440%	1h	173.98	+0.089%	$157K	$1.2M	10x	as long as short