Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.069%

Price spread now: Binance against SoDEX+0.038%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Binance

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

The price spread pays, funding is against you. Binance is 0.038% dearer against SoDEX than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MRNA-USD	171.09	0.0050	pay 0.0006% / 1h	42m 54s	$40K	$55K	10x
Short	Binance MRNAUSDT	171.16	0	get 0.0000% / 8h	7h 42m	$2.1M	$11.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now +0.038%Rate

Funding earned: −$10.5
Price spread: +0.038% → 0.000%: $3.8
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$24.7
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Binance: live order book, 12 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	1.45 bp	10.3 bp −$10	64.4 bp −$644	doesn't fit	doesn't fit

SoDEX: 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
BloFin MRNA-USDT	−0.0015%	8h	171.00	−0.053%	$45K	$29K	20x	as long as short
edgeX MRNAUSDC	−0.0010%	4h	171.29	+0.118%	$3K	$253K	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	170.85	−0.140%	$1.1M	$2.6M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	171.31	+0.131%	$26K	$82K	20x	as long as short
Binance MRNAUSDTshort	0.0000%	8h	171.16	+0.038%	$2.1M	$11.3M	20x
Bybit MRNAUSDT	0.0000%	8h	171.09	0.000%	$921K	$607K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	171.13	+0.023%	$1.2M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	170.97	−0.070%	$875K	$979K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	171.01	−0.047%	$2.6M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	170.92	−0.101%	$54K	$92K	—	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	171.26	+0.097%	$2	$133K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	170.95	−0.083%	$14K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	171.11	+0.012%	$1.5M	$646K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.289%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	170.88	−0.123%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	171.03	−0.033%	$31K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	171.05	−0.023%	$2.5M	$4.4M	10x	as long as short
SoDEX MRNA-USDlong	+0.0050%	1h	171.09	long leg	$40K	$55K	10x
Ondo Perps MRNA-USD.P	+0.0050%	1h	171.05	−0.023%	$43K	$36K	5x	as long as short
Phoenix MRNA	+0.0278%	1h	170.96	−0.076%	$5K	$191K	10x	as long as short
Lighter MRNA	+0.0320%	1h	171.25	+0.094%	$120K	$1.2M	10x	as long as short