Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against GRVT−8.386%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Injective

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 airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. Injective is 8.386% cheaper against GRVT than usual: you would sell low and buy high (spread −8.386% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$839 on $10k: about years of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MRNA_USDT_Perp	173.14	0	get 0.0000% / 8h	2h 11m	$2	$172K	10x
Short	Injective MRNA/USDC PERP	158.62	0.0033	get 0.0004% / 1h	11m 20s	$18K	$8K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now −8.386%Rate

Funding earned: $7
Price spread: −8.386% → 0.000%: −$838.63
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$840.65
Costs to cover: 0.090%
Break-even: 847.6 days

Slippage unknown: GRVT: live order book, 10 min ago; Injective: 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 GRVT live order book, 10 min ago	3.47 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Aster MRNAUSDT	0.0000%	8h	173.00	−0.082%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.04	−0.058%	$2.2M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.99	−0.087%	$936K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.88	−0.150%	$1.4M	$4.9M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.65	−0.283%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.88	−0.150%	$882K	$1.1M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.85	−0.167%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.02	−0.071%	$28K	$77K	—	as long as short
GRVT MRNA_USDT_Perplong	0.0000%	8h	173.14	long leg	$2	$172K	10x
HTX MRNA-USDT	0.0000%	8h	172.98	−0.095%	$12K	$429K	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	172.99	−0.087%	$1.6M	$633K	20x	as long as short
BloFin MRNA-USDT	+0.0017%	8h	172.99	−0.087%	$44K	$29K	20x	as long as short
Injective MRNA/USDC PERPshort	+0.0033%	1h	158.62	−8.386%	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	172.92	−0.127%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.11	−0.017%	$43K	$39K	5x	as long as short
Lighter MRNA	+0.0104%	1h	173.04	−0.058%	$125K	$1.0M	10x	as long as short
edgeX MRNAUSDC	+0.0141%	4h	173.12	−0.012%	$3K	$243K	10x	as long as short
Extended MRNA-USD	+0.0152%	1h	172.97	−0.100%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0155%	1h	172.98	−0.092%	$2.6M	$4.2M	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.08	−0.035%	$5K	$192K	10x	as long as short
SoDEX MRNA-USD	+0.0472%	1h	172.98	−0.092%	$66	$55K	10x	as long as short