Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.018%

Price spread now: Gate against Ondo Perps−0.058%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on Gate

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.058% cheaper against Ondo Perps than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MRNA-USD.P	172.46	0.0050	pay 0.0006% / 1h	19m 50s	$43K	$39K	5x
Short	Gate MRNA_USDT	172.36	0	get 0.0000% / 8h	1h 19m	$878K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Ondo Perps. 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 Ondo PerpsbpFee GatebpOrdersPrice spread, now −0.058%Rate

Funding earned: −$10.58
Price spread: −0.058% → 0.000%: −$5.8
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$36.38
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Gate: live order book, 2 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	8.70 bp	28.5 bp −$28	184.5 bp −$1,845	doesn't fit	doesn't fit

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
QFEX MRNA-USD	0.0000%	1h	172.30	−0.093%	$1.1M	$2.7M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.55	+0.050%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.46	−0.002%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.55	+0.052%	$933K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.31	−0.087%	$1.4M	$4.9M	20x	as long as short
Gate MRNA_USDTshort	0.0000%	8h	172.36	−0.058%	$878K	$1.1M	20x
Bitget MRNAUSDT	0.0000%	8h	172.36	−0.058%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.43	−0.018%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.68	+0.128%	$421	$169K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.46	+0.002%	$12K	$430K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	172.47	+0.006%	$1.6M	$642K	20x	as long as short
BloFin MRNA-USDT	+0.0001%	8h	172.36	−0.058%	$44K	$29K	20x	as long as short
edgeX MRNAUSDC	+0.0002%	4h	172.60	+0.084%	$3K	$243K	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.025%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.33	−0.075%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.40	−0.036%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.41	−0.029%	$2.6M	$4.2M	10x	as long as short
Ondo Perps MRNA-USD.Plong	+0.0050%	1h	172.46	long leg	$43K	$39K	5x
SoDEX MRNA-USD	+0.0117%	1h	172.45	−0.006%	$40K	$66K	10x	as long as short
Lighter MRNA	+0.0120%	1h	172.51	+0.029%	$124K	$1.0M	10x	as long as short
Phoenix MRNA	+0.0324%	1h	172.62	+0.093%	$5K	$192K	10x	as long as short