Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Arcus against OKX−0.442%47s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Arcus

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

Funding pays, the price is against you. Arcus is 0.442% cheaper against OKX than usual: you would sell low and buy high (spread −0.442% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$44 on $10k: about 37 days of funding at the current rate (+$1 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MRNA-USDT-SWAP	171.88	0	get 0.0000% / 8h	5h 52m	$1.2M	$5.5M	20x
Short	Arcus MRNA-USD	171.12	0.0040	get 0.0005% / 1h	52m 54s	$2K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against OKX. 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 OKXbpFee ArcusbpOrdersPrice spread, now −0.442%Rate

Funding earned: $8.46
Price spread: −0.442% → 0.000%: −$44.22
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$50.26
Costs to cover: 0.145%
Break-even: 48.6 days

Slippage unknown: OKX: live order book, 3 min ago; Arcus: 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 OKX live order book, 3 min ago	1.45 bp	18.0 bp −$18	114.2 bp −$1,142	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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
Aster MRNAUSDT	0.0000%	8h	171.46	−0.242%	$26K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	171.93	+0.029%	$2.1M	$11.8M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.05	+0.099%	$930K	$621K	25x	as long as short
OKX MRNA-USDT-SWAPlong	0.0000%	8h	171.88	long leg	$1.2M	$5.5M	20x
QFEX MRNA-USD	0.0000%	1h	171.83	−0.029%	$1.1M	$2.3M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.02	+0.081%	$889K	$998K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	171.83	−0.029%	$2.6M	$11.1M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	171.98	+0.056%	$59K	$91K	—	as long as short
HTX MRNA-USDT	0.0000%	8h	171.97	+0.054%	$13K	$433K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.05	+0.099%	$1.5M	$678K	20x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MRNA-USDT	+0.0011%	8h	172.47	+0.343%	$45K	$30K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.715%	$18K	$8K	12x	as long as short
Arcus MRNA-USDshort	+0.0040%	1h	171.12	−0.442%	$2K	$65K	10x
Ondo Perps MRNA-USD.P	+0.0181%	1h	172.05	+0.099%	$42K	$40K	5x	as long as short
Phoenix MRNA	+0.0278%	1h	172.46	+0.337%	$5K	$205K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0285%	1h	171.82	−0.035%	$2.7M	$4.7M	10x	as long as short
Extended MRNA-USD	+0.0304%	1h	171.76	−0.067%	$32K	$32K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0340%	8h	172.10	+0.126%	$694	$127K	10x	as long as short
Lighter MRNA	+0.0424%	1h	172.05	+0.099%	$255K	$1.5M	10x	as long as short
SoDEX MRNA-USD	+0.0647%	1h	172.04	+0.093%	$40K	$55K	10x	as long as short
edgeX MRNAUSDC	+0.0666%	4h	171.96	+0.044%	$3K	$255K	10x	as long as short