Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0387%/8h= −42.4% APRpaid last 24h −0.052%

Price spread now: GRVT against SoDEX+0.075%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 GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.075% dearer against SoDEX than usual: you sell high and buy low (spread +0.075% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MRNA-USD	173.82	0.0387	pay 0.0048% / 1h	29m 14s	$40K	$56K	10x
Short	GRVT MRNA_USDT_Perp	173.95	0	get 0.0000% / 8h	5h 29m	$301	$148K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$81.24
Price spread: +0.075% → 0.000%: $7.48
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$90.76
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; GRVT: live order book, 28 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 GRVT live order book, 28 min ago	2.60 bp	21.7 bp −$22	doesn't fit	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
Aster MRNAUSDT	0.0000%	8h	173.77	−0.031%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.83	+0.006%	$944K	$662K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.78	−0.023%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.76	−0.035%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.85	+0.017%	$869K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.77	−0.029%	$2.7M	$10.6M	20x	as long as short
GRVT MRNA_USDT_Perpshort	0.0000%	8h	173.95	+0.075%	$301	$148K	10x
HTX MRNA-USDT	0.0000%	8h	173.90	+0.047%	$14K	$433K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.94	+0.069%	$1.6M	$641K	20x	as long as short
Variational Omni MRNA	+0.0001%	8h	173.85	+0.017%	$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	−8.745%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.72	−0.058%	$2K	$64K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.77	−0.029%	$43K	$35K	5x	as long as short
Binance MRNAUSDT	+0.0063%	8h	173.88	+0.035%	$2.2M	$11.2M	20x	as long as short
Extended MRNA-USD	+0.0080%	1h	173.76	−0.033%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0083%	1h	173.71	−0.063%	$2.6M	$4.4M	10x	as long as short
BloFin MRNA-USDT	+0.0090%	8h	173.93	+0.063%	$45K	$29K	20x	as long as short
Phoenix MRNA	+0.0185%	1h	173.91	+0.052%	$5K	$189K	10x	as long as short
SoDEX MRNA-USDlong	+0.0387%	1h	173.82	long leg	$40K	$56K	10x
edgeX MRNAUSDC	+0.0782%	4h	173.94	+0.069%	$3K	$245K	10x	as long as short
Lighter MRNA	+0.1712%	1h	173.89	+0.040%	$104K	$1.1M	10x	as long as short