Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.026%

Price spread now: BloFin against QFEX+0.012%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MRNA-USD	172.31	0	get 0.0000% / 1h	48m 04s	$1.1M	$2.5M	10x
Short	BloFin MRNA-USDT	172.33	0.0009	get 0.0009% / 8h	1h 48m	$45K	$29K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against QFEX. 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 QFEXbpFee BloFinbpOrdersPrice spread, now +0.012%Rate

Funding earned: $1.86
Price spread: +0.012% → 0.000%: $1.16
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$18.98
Costs to cover: 0.220%
Break-even: 78.3 days

Slippage unknown: QFEX: live order book, 5 min ago; BloFin: no order-book sample. 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 QFEX live order book, 5 min ago	1.45 bp	6.9 bp −$7	13.6 bp −$136	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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
edgeX MRNAUSDC	−0.0869%	4h	172.19	−0.071%	$3K	$248K	10x	as long as short
Lighter MRNA	−0.0360%	1h	172.54	+0.133%	$156K	$1.2M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.57	+0.152%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.54	+0.133%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.42	+0.064%	$936K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.45	+0.081%	$1.3M	$5.4M	20x	as long as short
QFEX MRNA-USDlong	0.0000%	1h	172.31	long leg	$1.1M	$2.5M	10x
Gate MRNA_USDT	0.0000%	8h	172.36	+0.029%	$861K	$994K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.44	+0.075%	$2.6M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.26	−0.031%	$56K	$94K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MRNA_USDT_Perp	0.0000%	8h	172.28	−0.015%	$605	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.58	+0.156%	$14K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.52	+0.122%	$1.6M	$654K	20x	as long as short
BloFin MRNA-USDTshort	+0.0009%	8h	172.33	+0.012%	$45K	$29K	20x
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.945%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.19	−0.070%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.36	+0.029%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.38	+0.041%	$2.5M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.21	−0.058%	$43K	$35K	5x	as long as short
SoDEX MRNA-USD	+0.0107%	1h	172.44	+0.075%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0232%	1h	172.23	−0.046%	$5K	$191K	10x	as long as short