Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against QFEX+0.012%7-day average +0.131% · 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−$74as in the Price arb table

costs, in and out, $10k−$620.624% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.030%+$3 · spread now +0.012%, 7d avg +0.131%

Together, before fees+0.030%+$3 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: OKX is 0.120% cheaper against QFEX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.131%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MRNA-USD	173.76	0	get 0.0000% / 1h	29m 03s	$1.1M	$2.7M	10x
Short	OKX MRNA-USDT-SWAP	173.78	0	get 0.0000% / 8h	5h 29m	$1.3M	$5.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → +0.131%: −$11.96
Slippage, 4 orders: −$42.45
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$74.41
Costs to cover: 0.624%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; OKX: live order book, 4 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	1.73 bp	13.6 bp −$14	22.2 bp −$222	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	5.18 bp	21.0 bp −$21	89.5 bp −$895	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
Aster MRNAUSDT	0.0000%	8h	173.78	+0.014%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.86	+0.058%	$944K	$662K	25x	as long as short
OKX MRNA-USDT-SWAPshort	0.0000%	8h	173.78	+0.012%	$1.3M	$5.3M	20x
QFEX MRNA-USDlong	0.0000%	1h	173.76	long leg	$1.1M	$2.7M	10x
Gate MRNA_USDT	0.0000%	8h	173.85	+0.052%	$869K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.77	+0.006%	$2.7M	$10.6M	20x	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.95	+0.109%	$301	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.90	+0.082%	$14K	$433K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.94	+0.104%	$1.6M	$641K	20x	as long as short
Variational Omni MRNA	+0.0001%	8h	173.85	+0.051%	$49K	$89K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.713%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.72	−0.023%	$2K	$64K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.77	+0.006%	$43K	$35K	5x	as long as short
Binance MRNAUSDT	+0.0063%	8h	173.88	+0.069%	$2.2M	$11.2M	20x	as long as short
Extended MRNA-USD	+0.0080%	1h	173.76	+0.001%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0083%	1h	173.78	+0.012%	$2.6M	$4.4M	10x	as long as short
BloFin MRNA-USDT	+0.0090%	8h	173.93	+0.098%	$45K	$29K	20x	as long as short
Phoenix MRNA	+0.0185%	1h	173.91	+0.086%	$5K	$189K	10x	as long as short
SoDEX MRNA-USD	+0.0387%	1h	173.82	+0.035%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0782%	4h	173.94	+0.103%	$3K	$245K	10x	as long as short
Lighter MRNA	+0.1712%	1h	173.89	+0.075%	$104K	$1.1M	10x	as long as short