Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.011%

Price spread now: BloFin against Injective+8.505%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BloFin

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—needs both histories

The price spread pays, funding is against you. BloFin is 8.505% dearer against Injective than usual: you sell high and buy low (spread +8.505% now, against zero (this spread has no 7-day history yet)): +$850 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 18 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MRNA/USDC PERP	158.62	0.0033	pay 0.0004% / 1h	54m 09s	$18K	$8K	12x
Short	BloFin MRNA-USDT	172.11	−0.0019	pay 0.0019% / 8h	5h 54m	$45K	$30K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +8.505%Rate

Funding earned: −$11.06
Price spread: +8.505% → 0.000%: $850.46
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $827.38
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin no order-book sample	—	—	—	—	—

Injective and BloFin: 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 exchanges

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
BloFin MRNA-USDTshort	−0.0019%	8h	172.11	+8.505%	$45K	$30K	20x
Aster MRNAUSDT	0.0000%	8h	172.01	+8.444%	$26K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.04	+8.460%	$2.1M	$11.8M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.36	+8.662%	$932K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.41	+8.694%	$1.2M	$5.5M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.09	+8.492%	$1.1M	$2.3M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.27	+8.605%	$890K	$997K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.22	+8.574%	$2.7M	$11.1M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	171.98	+8.420%	$59K	$91K	—	as long as short
HTX MRNA-USDT	0.0000%	8h	172.02	+8.445%	$13K	$433K	20x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	172.39	+8.681%	$1.5M	$676K	20x	as long as short
Injective MRNA/USDC PERPlong	+0.0033%	1h	158.62	long leg	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	171.23	+7.950%	$2K	$65K	10x	as long as short
Phoenix MRNA	+0.0188%	1h	172.46	+8.725%	$5K	$205K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0210%	1h	171.99	+8.429%	$42K	$40K	5x	as long as short
GRVT MRNA_USDT_Perp	+0.0283%	8h	171.96	+8.409%	$89	$128K	10x	as long as short
Extended MRNA-USD	+0.0344%	1h	172.29	+8.621%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0350%	1h	172.31	+8.631%	$2.7M	$4.7M	10x	as long as short
Lighter MRNA	+0.0456%	1h	172.42	+8.700%	$255K	$1.5M	10x	as long as short
edgeX MRNAUSDC	+0.0666%	4h	171.96	+8.407%	$3K	$255K	10x	as long as short
SoDEX MRNA-USD	+0.0765%	1h	172.29	+8.618%	$40K	$55K	10x	as long as short