Funding arb · Price arb / RWA

MRNA

RWAAll MRNA markets →

LONGKuCoin▾Extended −0.0552%tradeXYZ −0.0552%Avantis −0.0546%Bybit −0.0278%AZverse −0.0177%QFEX −0.0005%Aster 0.0000%Binance 0.0000%OKX 0.0000%Gate 0.0000%MEXC 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%HTX 0.0000%Phemex 0.0000%BloFin +0.0030%Lighter +0.0032%Injective +0.0033%BingX +0.0050%SoDEX +0.0050%Ondo Perps +0.0050%Phoenix +0.0083%TxFlow +0.0100%edgeX +0.0890%

⇄⇅

SHORTArcus▾edgeX +0.0890%TxFlow +0.0100%Phoenix +0.0083%Ondo Perps +0.0050%BingX +0.0050%SoDEX +0.0050%Injective +0.0033%Lighter +0.0032%BloFin +0.0030%Aster 0.0000%Binance 0.0000%OKX 0.0000%Gate 0.0000%MEXC 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%HTX 0.0000%Phemex 0.0000%QFEX −0.0005%AZverse −0.0177%Bybit −0.0278%tradeXYZ −0.0552%Extended −0.0552%Avantis +0.0583%Arcus −0.0608%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	KuCoinMRNAUSDTM	189.76	0	0.0000% / 8h	7h 16m	$331K	$1.4M	20x	Long KuCoin
SHORT	ArcusMRNA-USD	189.39	−0.0608	pay 0.0076% / 1h	16m 27s	$111K	$2.4M	10x	Short Arcus5% off

Price gap−0.195%

Funding gap−0.0608% /8h

Both sides work against this direction now: funding costs $18 a day on $10k and the gap is 0.072% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.118% in total, about +0.0056%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.195%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

KuCoinArcus

MRNA on 27 exchanges

lowest funding first

Before you open

1 ok · 5 to watch

• !
  Watch: Thin at this size163.3 / 3.1 bp

  At $10k entering KuCoin costs 163.3 bp, fee and slippage, 53.1× Arcus’s.
• i
  Note: Margin at max leverage$500 + $1,000

  KuCoin 20x, Arcus 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ8h / 1h

  Payments land at different times. Close right after the slower leg pays.

  Long KuCoin · 8h$0.00

  Short Arcus · 1h−$18.25

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$18.25Long KuCoin: 3 payments, $0.00; short Arcus: 24 payments, −$18.25.
• !
  Watch: Gap narrower than usual−0.195% vs −0.123%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Short leg is thinner$111K vs $331K OI

  Arcus sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legArcus points

  Volume here counts toward the points program.
• !
  Watch: KYCKuCoin Yes · Arcus No

  Standard KYC (ID and face check) for any product since Aug 2023.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0056%/8h × 21 periods+$11.77

Price spread−0.195% → −0.123% (7d avg)−$7.18

Slippage, 4 orderslive order books−$194.88

Fee KuCoin bp × 2 orders−$12.00

Fee Arcus bp × 2 orders−$4.50

Net · 7 days · $10k−$206.79

Costs to cover2.114%Break-even130.0 days

Slippage: KuCoin: live order book, 5 min ago; Arcus: live order book, 3 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGKuCoin9.74163.3 bp−$163doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTArcus0.533.1 bp−$3doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

MRNA news

posts that mention MRNA, from every exchangeSearch all news →

10-25 09:09	AZAZverse	Listing	new market mrna_usdt ($MRNA) seen by our collector
10-22 20:48	Arcus	Other	$MRNA fell 25% today and was halted intraday on its primary exchange. The MRNA perp on Arcus kept trading through the halt. Traders could open, reduce, or close positions the entire time - as there is no halt state on Arcus perps. Markets run 24/7. Read more about Arcus RWA Perps here: @arcus_xyz on X ↗
10-22 19:35	Phoenix	Other	Moderna falls after reported leak of Phase 3 melanoma vaccine data showing a 42% cut in recurrence risk, below Phase 2's 49%. $MRNA is trading at $195 on Phoenix, 24/7. @PhoenixTrade on X ↗
10-22 19:27	Bitget	Other	Stay on top of fast-moving stock markets with Bitget Stock Perps. 📈📉 Here's the latest on Moderna $MRNA today ⤵️ @bitget on X ↗
10-20 17:07	Phoenix	Other	JUST IN: Moderna $MRNA is still climbing, up nearly 7% in the last 24 hours ahead of Saturday's Phase 3 cancer vaccine data at ESMO. @PhoenixTrade on X ↗
10-19 13:46	Phoenix	Other	JUST IN: $MRNA jumps 8.45% in anticipation of their Stage 3 cancer vaccine clinical trial results releasing on October 24. @PhoenixTrade on X ↗