Funding arb · Price arb / RWA

MRNA

RWAAll MRNA markets →

LONGPhoenix▾Extended −0.0472%tradeXYZ −0.0472%Arcus −0.0233%Injective −0.0220%Avantis −0.0173%QFEX −0.0019%Aster 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%Gate 0.0000%MEXC 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%HTX 0.0000%Phemex 0.0000%BloFin +0.0010%Lighter +0.0032%BingX +0.0050%SoDEX +0.0050%Ondo Perps +0.0050%TxFlow +0.0100%Phoenix +0.0486%edgeX +0.0965%

⇄⇅

SHORTAZAZverse▾edgeX +0.0965%TxFlow +0.0100%Ondo Perps +0.0050%BingX +0.0050%SoDEX +0.0050%Lighter +0.0032%BloFin +0.0010%Aster 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%Gate 0.0000%MEXC 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%HTX 0.0000%Phemex 0.0000%QFEX −0.0019%AZverse −0.0060%Avantis +0.0210%Injective −0.0220%Arcus −0.0233%tradeXYZ −0.0472%Extended −0.0472%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhoenixMRNA	197.21	+0.0486	pay 0.0061% / 1h	34m 43s	$23K	$152K	10x	Long Phoenix
SHORT	AZAZversemrna_usdt	197.34	−0.0060	pay 0.0008% / 1h	34m 43s	$198K	$337K	—	Short AZverse

Price gap+0.066%60s

Funding gap−0.0546% /8h

Both sides work against this direction now: funding costs $16 a day on $10k and the gap is 0.027% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 2 days it paid −0.034% in total, about −0.0075%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.066%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

PhoenixAZverse

MRNA on 27 exchanges

lowest funding first

Before you open

2 ok · 2 to watch

• i
  Note: Order book unknown—

  No order-book sample for AZverse: its slippage is not counted.
• i
  Note: Margin at max leverage$1,000 + —

  Phoenix 10x, AZverse —. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Phoenix · 1h−$14.58

  Short AZverse · 1h−$1.80

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$16.38Long Phoenix: 24 payments, −$14.58; short AZverse: 24 payments, −$1.80.
• !
  Watch: Prices read 60 s apart+0.066% vs +0.093%

  Part of this gap may be the market moving.
• !
  Watch: Long leg is thinner$23K vs $198K OI

  Phoenix sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• ✓
  OK: No KYC on either legPhoenix No · AZverse No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0075%/8h × 21 periods−$15.81

Price spreadprices read too far apart to compare—

Slippage, 4 ordersno data for AZverse—

Fee Phoenix bp × 2 orders−$7.00

Fee AZverse bp × 2 orders−$12.00

Net, fees only · 7 days · $10k−$34.81

price spread not counted: prices read too far apart

Costs to cover0.190%Break-evennever at this rate

Slippage: Phoenix: live order book, 53 min ago; AZverse: no order-book sample

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGPhoenix6.0719.7 bp−$2066.4 bp−$664doesn’t fitdoesn’t fit

SELL · SHORTAZverse—————

Closing costs about the same again.
AZverse: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

MRNA news

posts that mention MRNA, from every exchangeSearch all news →

10-25 09:09	AZAZverse	Listing	new market mrna_usdt ($MRNA) seen by our collector
10-22 20:48	Arcus	Other	$MRNA fell 25% today and was halted intraday on its primary exchange. The MRNA perp on Arcus kept trading through the halt. Traders could open, reduce, or close positions the entire time - as there is no halt state on Arcus perps. Markets run 24/7. Read more about Arcus RWA Perps here: @arcus_xyz on X ↗
10-22 19:35	Phoenix	Other	Moderna falls after reported leak of Phase 3 melanoma vaccine data showing a 42% cut in recurrence risk, below Phase 2's 49%. $MRNA is trading at $195 on Phoenix, 24/7. @PhoenixTrade on X ↗
10-22 19:27	Bitget	Other	Stay on top of fast-moving stock markets with Bitget Stock Perps. 📈📉 Here's the latest on Moderna $MRNA today ⤵️ @bitget on X ↗
10-20 17:07	Phoenix	Other	JUST IN: Moderna $MRNA is still climbing, up nearly 7% in the last 24 hours ahead of Saturday's Phase 3 cancer vaccine data at ESMO. @PhoenixTrade on X ↗
10-19 13:46	Phoenix	Other	JUST IN: $MRNA jumps 8.45% in anticipation of their Stage 3 cancer vaccine clinical trial results releasing on October 24. @PhoenixTrade on X ↗