Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.002%

Price spread now: Ondo Perps against Gate−0.224%7-day average — · you buy dearer than you sell

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

Long on Gate 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

Funding pays, the price is against you. Ondo Perps is 0.224% cheaper against Gate than usual: you would sell low and buy high (spread −0.224% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 15 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MRNA_USDT	173.72	0	get 0.0000% / 8h	4h 22m	$869K	$1.0M	20x
Short	Ondo Perps MRNA-USD.P	173.33	0.0050	get 0.0006% / 1h	22m 30s	$43K	$35K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Gate. 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 GatebpFee Ondo PerpsbpOrdersPrice spread, now −0.224%Rate

Funding earned: $10.58
Price spread: −0.224% → 0.000%: −$22.45
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$31.87
Costs to cover: 0.200%
Break-even: 28.1 days

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	7.49 bp	19.1 bp −$19	doesn't fit	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
edgeX MRNAUSDC	−0.0326%	4h	173.60	−0.071%	$3K	$245K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.73	+0.008%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.66	−0.035%	$946K	$615K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.73	+0.006%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.57	−0.086%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDTlong	0.0000%	8h	173.72	long leg	$869K	$1.0M	20x
Bitget MRNAUSDT	0.0000%	8h	173.71	−0.006%	$2.8M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.53	−0.108%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.62	−0.059%	$429	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.77	+0.028%	$14K	$432K	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	173.79	+0.040%	$1.6M	$640K	20x	as long as short
Binance MRNAUSDT	+0.0024%	8h	173.88	+0.092%	$2.2M	$11.2M	20x	as long as short
Lighter MRNA	+0.0032%	1h	173.74	+0.012%	$157K	$1.1M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.692%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.52	−0.115%	$2K	$63K	10x	as long as short
BloFin MRNA-USDT	+0.0043%	8h	173.82	+0.058%	$45K	$29K	20x	as long as short
Extended MRNA-USD	+0.0048%	1h	173.72	−0.003%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	173.70	−0.012%	$2.7M	$4.4M	10x	as long as short
Ondo Perps MRNA-USD.Pshort	+0.0050%	1h	173.33	−0.224%	$43K	$35K	5x
Phoenix MRNA	+0.0230%	1h	173.39	−0.190%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0357%	1h	173.69	−0.017%	$40K	$56K	10x	as long as short