Funding arb · Price arb / RWA

MRNA

RWAAll MRNA markets →

LONGKuCoin▾Extended −0.0984%tradeXYZ −0.0974%Avantis −0.0787%Bybit −0.0328%Injective −0.0220%GRVT −0.0193%AZverse −0.0166%QFEX −0.0014%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%HTX 0.0000%Phemex 0.0000%BloFin +0.0009%Lighter +0.0032%Arcus +0.0038%BingX +0.0050%SoDEX +0.0050%edgeX +0.0050%TxFlow +0.0100%Phoenix +0.0123%

⇄⇅

SHORTOndo Perps▾Phoenix +0.0123%TxFlow +0.0100%edgeX +0.0050%BingX +0.0050%SoDEX +0.0050%Arcus +0.0038%Lighter +0.0032%BloFin +0.0009%Aster 0.0000%Binance 0.0000%OKX 0.0000%Gate 0.0000%MEXC 0.0000%Bitget 0.0000%Variational Omni 0.0000%HTX 0.0000%Phemex 0.0000%QFEX −0.0014%AZverse −0.0166%GRVT −0.0193%Injective −0.0220%Bybit −0.0328%Ondo Perps −0.0514%Avantis +0.0824%tradeXYZ −0.0974%Extended −0.0984%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	KuCoinMRNAUSDTM	194.36	0	0.0000% / 8h	11m 19s	$336K	$1.4M	20x	Long KuCoin
SHORT	Ondo PerpsMRNA-USD.P2	193.93	−0.0514	pay 0.0064% / 1h	11m 19s	$12K	$301K	5x	Short Ondo Perps5% off

Price gap−0.221%

Funding gap−0.0514% /8h

Both sides work against this direction now: funding costs $15 a day on $10k and the gap is 0.100% 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 +0.139% in total, about +0.0066%/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−0.221%

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

KuCoinOndo Perps

MRNA on 27 exchanges

lowest funding first

Before you open

1 ok · 5 to watch

• !
  Watch: Thin at this size167.3 / 8.7 bp

  At $10k entering KuCoin costs 167.3 bp, fee and slippage, 19.2× Ondo Perps’s.
• i
  Note: Margin at max leverage$500 + $2,000

  KuCoin 20x, Ondo Perps 5x. 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 Ondo Perps · 1h−$15.41

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

  Next 24h at the current rates, on $10k a leg: −$15.41Long KuCoin: 3 payments, $0.00; short Ondo Perps: 24 payments, −$15.41.
• !
  Watch: Gap narrower than usual−0.221% vs −0.121%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Short leg is thinner$12K vs $336K OI

  Ondo Perps sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legOndo Perps points

  Volume here counts toward the points program.
• !
  Watch: KYCKuCoin Yes · Ondo Perps 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+0.0066%/8h × 21 periods+$13.88

Price spread−0.221% → −0.121% (7d avg)−$10.02

Slippage, 4 orderslive order books−$207.16

Fee KuCoin bp × 2 orders−$12.00

Fee Ondo Perps bp × 2 orders−$5.00

Net · 7 days · $10k−$220.29

Costs to cover2.242%Break-even118.1 days

Slippage: KuCoin: live order book, 5 min ago; Ondo Perps: live order book, 22 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGKuCoin10.02167.3 bp−$167doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTOndo Perps5.398.7 bp−$921.5 bp−$215doesn’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 ↗