Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.028%

Price spread now: GRVT against Ondo Perps+0.110%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 6 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 · GRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.110% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MRNA-USD.P	173.64	0.0050	pay 0.0006% / 1h	48m 54s	$43K	$35K	5x
Short	GRVT MRNA_USDT_Perp	173.83	0	get 0.0000% / 8h	3h 48m	$17	$147K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$10.58
Price spread: +0.110% → 0.000%: $10.97
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$13.62
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; GRVT: live order book, 64 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 GRVT live order book, 64 min ago	3.16 bp	26.9 bp −$27	doesn't fit	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
Aster MRNAUSDT	0.0000%	8h	174.19	+0.317%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	174.19	+0.317%	$949K	$615K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	174.20	+0.323%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.94	+0.173%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	174.01	+0.213%	$869K	$996K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	174.01	+0.213%	$2.8M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.87	+0.132%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perpshort	0.0000%	8h	173.83	+0.110%	$17	$147K	10x
HTX MRNA-USDT	0.0000%	8h	174.22	+0.333%	$14K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	174.13	+0.282%	$1.6M	$642K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MRNAUSDT	+0.0024%	8h	174.28	+0.369%	$2.2M	$11.3M	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.650%	$18K	$8K	12x	as long as short
BloFin MRNA-USDT	+0.0034%	8h	173.81	+0.098%	$45K	$29K	20x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.76	+0.069%	$2K	$63K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	174.04	+0.230%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	174.06	+0.242%	$2.7M	$4.4M	10x	as long as short
Ondo Perps MRNA-USD.Plong	+0.0050%	1h	173.64	long leg	$43K	$35K	5x
Lighter MRNA	+0.0184%	1h	174.10	+0.265%	$158K	$1.1M	10x	as long as short
Phoenix MRNA	+0.0277%	1h	173.93	+0.167%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0539%	1h	174.17	+0.305%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0601%	4h	173.88	+0.139%	$3K	$246K	10x	as long as short