Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against OKX+0.063%48s7-day average — · you sell dearer than you buy

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

Long on OKX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.063% dearer against OKX than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	173.78	0	get 0.0000% / 8h	5h 29m	$1.3M	$5.3M	20x
Short	Ondo Perps MRNA-USD.P	173.89	0.0050	get 0.0006% / 1h	29m 47s	$43K	$35K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.063%Rate

Funding earned: $10.58
Price spread: +0.063% → 0.000%: $6.33
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $1.91
Costs to cover: 0.150%
Break-even: 5.7 days

Slippage unknown: OKX: live order book, 3 min ago; Ondo Perps: 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	5.18 bp	13.7 bp −$14	112.8 bp −$1,128	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Aster MRNAUSDT	0.0000%	8h	173.77	−0.007%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.82	+0.023%	$944K	$662K	25x	as long as short
OKX MRNA-USDT-SWAPlong	0.0000%	8h	173.78	long leg	$1.3M	$5.3M	20x
QFEX MRNA-USD	0.0000%	1h	173.68	−0.058%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.83	+0.029%	$869K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.76	−0.012%	$2.7M	$10.6M	20x	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.94	+0.094%	$444	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.86	+0.046%	$14K	$433K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.86	+0.046%	$1.6M	$641K	20x	as long as short
Variational Omni MRNA	+0.0001%	8h	173.85	+0.040%	$49K	$89K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.724%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.73	−0.029%	$2K	$64K	10x	as long as short
BloFin MRNA-USDT	+0.0044%	8h	173.88	+0.058%	$45K	$29K	20x	as long as short
Ondo Perps MRNA-USD.Pshort	+0.0050%	1h	173.89	+0.063%	$43K	$35K	5x
Binance MRNAUSDT	+0.0063%	8h	173.90	+0.068%	$2.2M	$11.2M	20x	as long as short
Extended MRNA-USD	+0.0080%	1h	173.68	−0.056%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0081%	1h	173.74	−0.023%	$2.6M	$4.4M	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.91	+0.075%	$5K	$189K	10x	as long as short
SoDEX MRNA-USD	+0.0391%	1h	173.83	+0.029%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0782%	4h	173.94	+0.092%	$3K	$245K	10x	as long as short
Lighter MRNA	+0.1712%	1h	173.89	+0.063%	$104K	$1.1M	10x	as long as short