Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.017%

Price spread now: Gate against Phemex−0.017%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1481.477% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now −0.017%, 7d avg −0.052%

Together, before fees+0.046%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.035% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MRNAUSDT	172.89	0	get 0.0000% / 8h	5h 59m	$1.6M	$648K	20x
Short	Gate MRNA_USDT	172.86	0	get 0.0000% / 8h	5h 59m	$861K	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phemex. 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 PhemexbpFee GatebpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → −0.052%: $3.49
Slippage, 4 orders: −$120.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$144.18
Costs to cover: 1.477%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Gate: live order book, 2 min ago.

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 Phemex live order book, 3 min ago	1.45 bp	36.5 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	11.87 bp	35.1 bp −$35	1590.9 bp −$15.9K	doesn't fit	doesn't fit

MRNA on 20 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
Lighter MRNA	−0.0208%	1h	172.88	−0.006%	$104K	$1.1M	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.81	−0.046%	$1.1M	$2.7M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.82	−0.039%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.97	+0.046%	$938K	$665K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.84	−0.029%	$1.3M	$5.3M	20x	as long as short
Gate MRNA_USDTshort	0.0000%	8h	172.86	−0.017%	$861K	$1.0M	20x
Bitget MRNAUSDT	0.0000%	8h	172.79	−0.058%	$2.6M	$10.5M	20x	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.84	−0.030%	$325	$150K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.03	+0.083%	$12K	$428K	20x	as long as short
Phemex MRNAUSDTlong	0.0000%	8h	172.89	long leg	$1.6M	$648K	20x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MRNA	+0.0033%	8h	172.92	+0.020%	$49K	$89K	—	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.254%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.75	−0.081%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.70	−0.111%	$32K	$32K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.60	−0.168%	$43K	$36K	5x	as long as short
Binance MRNAUSDT	+0.0069%	8h	172.87	−0.012%	$2.1M	$11.4M	20x	as long as short
SoDEX MRNA-USD	+0.0154%	1h	172.85	−0.023%	$40K	$56K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0183%	1h	172.79	−0.058%	$2.6M	$4.4M	10x	as long as short
Phoenix MRNA	+0.0279%	1h	172.84	−0.029%	$5K	$193K	10x	as long as short
edgeX MRNAUSDC	+0.0648%	4h	172.87	−0.011%	$3K	$247K	10x	as long as short