Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against OKX−8.980%98s7-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 Injective

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. Injective is 8.980% cheaper against OKX than usual: you would sell low and buy high (spread −8.980% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$898 on $10k: about years of funding at the current rate (+$1 a day). The two prices were read 98 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	174.27	0	get 0.0000% / 8h	3h 25m	$1.3M	$5.3M	20x
Short	Injective MRNA/USDC PERP	158.62	0.0033	get 0.0004% / 1h	25m 39s	$18K	$8K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −8.980%Rate

Funding earned: $7
Price spread: −8.980% → 0.000%: −$898.03
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$901.05
Costs to cover: 0.100%
Break-even: 908.1 days

Slippage unknown: OKX: live order book, 2 min ago; Injective: 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, 2 min ago	4.30 bp	19.3 bp −$19	126.7 bp −$1,267	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 21 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
BloFin MRNA-USDT	−0.0004%	8h	174.47	+0.115%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	174.43	+0.090%	$28K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	174.45	+0.105%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	174.39	+0.069%	$951K	$616K	25x	as long as short
OKX MRNA-USDT-SWAPlong	0.0000%	8h	174.27	long leg	$1.3M	$5.3M	20x
QFEX MRNA-USD	0.0000%	1h	174.36	+0.052%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	174.41	+0.080%	$872K	$997K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	174.35	+0.046%	$2.8M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	174.43	+0.093%	$56K	$96K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	174.49	+0.127%	$661	$149K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRNA-USDT	0.0000%	8h	174.40	+0.075%	$14K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	174.46	+0.109%	$1.6M	$644K	20x	as long as short
Injective MRNA/USDC PERPshort	+0.0033%	1h	158.62	−8.980%	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	174.24	−0.017%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	174.27	+0.001%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	174.26	−0.006%	$2.7M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	174.42	+0.086%	$43K	$35K	5x	as long as short
edgeX MRNAUSDC	+0.0225%	4h	174.45	+0.104%	$3K	$246K	10x	as long as short
Phoenix MRNA	+0.0277%	1h	174.49	+0.126%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0284%	1h	174.41	+0.080%	$40K	$56K	10x	as long as short
Lighter MRNA	+0.0792%	1h	174.57	+0.172%	$158K	$1.1M	10x	as long as short