Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0400%/8h= +43.8% APRpaid last 24h +0.052%

Price spread now: SoDEX against GRVT−0.066%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 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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. SoDEX is 0.066% cheaper against GRVT than usual: you would sell low and buy high (spread −0.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 13 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MRNA_USDT_Perp	173.94	0	get 0.0000% / 8h	5h 30m	$444	$147K	10x
Short	SoDEX MRNA-USD	173.83	0.0400	get 0.0050% / 1h	30m 55s	$40K	$56K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.066%Rate

Funding earned: $84.06
Price spread: −0.066% → 0.000%: −$6.56
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $60.49
Costs to cover: 0.170%
Break-even: 2.0 days

Slippage unknown: GRVT: live order book, 27 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 GRVT live order book, 27 min ago	2.60 bp	20.9 bp −$21	doesn't fit	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
Aster MRNAUSDT	0.0000%	8h	173.82	−0.069%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.80	−0.083%	$944K	$662K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.78	−0.094%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.68	−0.152%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.83	−0.066%	$866K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.76	−0.106%	$2.7M	$10.6M	20x	as long as short
GRVT MRNA_USDT_Perplong	0.0000%	8h	173.94	long leg	$444	$147K	10x
HTX MRNA-USDT	0.0000%	8h	173.70	−0.140%	$14K	$433K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.90	−0.025%	$1.6M	$641K	20x	as long as short
Variational Omni MRNA	+0.0001%	8h	173.85	−0.054%	$49K	$89K	—	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	−8.810%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.73	−0.123%	$2K	$64K	10x	as long as short
BloFin MRNA-USDT	+0.0044%	8h	173.88	−0.037%	$45K	$29K	20x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.89	−0.031%	$43K	$35K	5x	as long as short
Binance MRNAUSDT	+0.0067%	8h	173.87	−0.043%	$2.2M	$11.3M	20x	as long as short
Extended MRNA-USD	+0.0072%	1h	173.70	−0.139%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0077%	1h	173.74	−0.117%	$2.6M	$4.4M	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.91	−0.020%	$5K	$189K	10x	as long as short
SoDEX MRNA-USDshort	+0.0400%	1h	173.83	−0.066%	$40K	$56K	10x
edgeX MRNAUSDC	+0.0782%	4h	173.94	−0.003%	$3K	$245K	10x	as long as short
Lighter MRNA	+0.1736%	1h	173.91	−0.020%	$104K	$1.1M	10x	as long as short