Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0224%/8h= −24.6% APRpaid last 24h +0.054%

Price spread now: edgeX against Injective+9.006%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 edgeX

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

The price spread pays, funding is against you. edgeX is 9.006% dearer against Injective than usual: you sell high and buy low (spread +9.006% now, against zero (this spread has no 7-day history yet)): +$901 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 4 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	56m 44s	$18K	$8K	12x
Short	edgeX MRNAUSDC	172.91	−0.0191	pay 0.0096% / 4h	1h 56m	$3K	$247K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +9.006%Rate

Funding earned: −$47.13
Price spread: +9.006% → 0.000%: $900.65
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $844.5
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; edgeX: live order book, 6 min ago. 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 edgeX live order book, 6 min ago	3.18 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit

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 20 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 MRNAUSDCshort	−0.0191%	4h	172.91	+9.006%	$3K	$247K	10x
Aster MRNAUSDT	0.0000%	8h	172.98	+9.054%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.14	+9.154%	$941K	$665K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.14	+9.154%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.04	+9.091%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.13	+9.148%	$862K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.05	+9.097%	$2.7M	$10.6M	20x	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.14	+9.155%	$312	$150K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.26	+9.228%	$12K	$428K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.16	+9.167%	$1.6M	$648K	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MRNA	+0.0033%	8h	172.92	+9.018%	$49K	$89K	—	as long as short
Injective MRNA/USDC PERPlong	+0.0033%	1h	158.62	long leg	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	172.97	+9.047%	$2K	$64K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.11	+9.135%	$43K	$36K	5x	as long as short
Binance MRNAUSDT	+0.0068%	8h	173.19	+9.186%	$2.1M	$11.4M	20x	as long as short
tradeXYZ xyz:MRNA	+0.0091%	1h	173.11	+9.135%	$2.6M	$4.4M	10x	as long as short
Extended MRNA-USD	+0.0136%	1h	173.09	+9.121%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0279%	1h	172.84	+8.965%	$5K	$189K	10x	as long as short
SoDEX MRNA-USD	+0.0519%	1h	173.12	+9.141%	$40K	$56K	10x	as long as short
Lighter MRNA	+0.0896%	1h	173.12	+9.141%	$104K	$1.1M	10x	as long as short