Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: Gate against QFEX+0.012%7-day average +0.221% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$730.729% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now +0.012%, 7d avg +0.221%

Together, before fees+0.104%+$10 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 0.210% cheaper against QFEX than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.221%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MRNA-USD	172.85	0	get 0.0000% / 1h	9m 22s	$1.1M	$2.6M	10x
Short	Gate MRNA_USDT	172.87	0	get 0.0000% / 8h	2h 09m	$882K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → +0.221%: −$20.97
Slippage, 4 orders: −$47.89
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$93.85
Costs to cover: 0.729%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Gate: live order book, 3 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 QFEX live order book, 3 min ago	4.63 bp	9.6 bp −$10	14.9 bp −$149	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	14.45 bp	22.0 bp −$22	186.6 bp −$1,866	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	−0.0921%	4h	173.05	+0.116%	$3K	$241K	10x	as long as short
BloFin MRNA-USDT	−0.0026%	8h	173.04	+0.110%	$44K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.94	+0.050%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.93	+0.046%	$2.2M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.95	+0.058%	$936K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.85	0.000%	$1.4M	$4.9M	20x	as long as short
QFEX MRNA-USDlong	0.0000%	1h	172.85	long leg	$1.1M	$2.6M	10x
Gate MRNA_USDTshort	0.0000%	8h	172.87	+0.012%	$882K	$1.1M	20x
Bitget MRNAUSDT	0.0000%	8h	172.74	−0.064%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.06	+0.119%	$28K	$77K	—	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	173.13	+0.162%	$3	$172K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.07	+0.127%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.90	+0.029%	$1.6M	$634K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.233%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.87	+0.012%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.11	+0.150%	$43K	$39K	5x	as long as short
Lighter MRNA	+0.0096%	1h	172.93	+0.046%	$125K	$1.0M	10x	as long as short
tradeXYZ xyz:MRNA	+0.0151%	1h	172.87	+0.012%	$2.6M	$4.2M	10x	as long as short
Extended MRNA-USD	+0.0152%	1h	172.86	+0.004%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.08	+0.133%	$5K	$192K	10x	as long as short
SoDEX MRNA-USD	+0.0452%	1h	172.84	−0.006%	$69	$55K	10x	as long as short