Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex−0.040%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$285as in the Funding arb table

Net, price: spread back to 7d avg − costs−$289as in the Price arb table

costs, in and out, $10k−$2852.846% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.040%, 7d avg +0.007%

Together, before fees+0.024%+$2 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: HTX is 0.047% cheaper against Phemex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MRNAUSDT	172.57	0	get 0.0000% / 8h	1h 24m	$1.6M	$642K	20x
Short	HTX MRNA-USDT	172.50	0	get 0.0000% / 8h	1h 24m	$12K	$430K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → +0.007%: −$4.73
Slippage, 4 orders: −$260.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$289.37
Costs to cover: 2.846%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; HTX: live order book, 59 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, 4 min ago	3.18 bp	41.2 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 59 min ago	16.31 bp	39.6 bp −$40	doesn't fit	doesn't fit	doesn't fit

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
edgeX MRNAUSDC	−0.0885%	4h	172.72	+0.089%	$3K	$242K	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.49	−0.046%	$1.1M	$2.7M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.71	+0.082%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.60	+0.018%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.56	−0.006%	$933K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.49	−0.046%	$1.4M	$4.9M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.57	0.000%	$879K	$1.1M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.44	−0.075%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.59	+0.014%	$49K	$98K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.73	+0.093%	$421	$169K	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-USDTshort	0.0000%	8h	172.50	−0.040%	$12K	$430K	20x
Phemex MRNAUSDTlong	0.0000%	8h	172.57	long leg	$1.6M	$642K	20x
BloFin MRNA-USDT	+0.0025%	8h	172.63	+0.035%	$44K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.084%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.45	−0.070%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.48	−0.053%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.54	−0.017%	$2.6M	$4.2M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.73	+0.093%	$43K	$39K	5x	as long as short
Lighter MRNA	+0.0168%	1h	172.57	0.000%	$124K	$1.0M	10x	as long as short
SoDEX MRNA-USD	+0.0218%	1h	172.54	−0.017%	$40K	$75K	10x	as long as short
Phoenix MRNA	+0.0324%	1h	172.62	+0.029%	$5K	$192K	10x	as long as short