Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0347%/8h= −38.0% APRpaid last 24h −0.079%

Price spread now: Variational Omni against SoDEX+0.029%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 Variational Omni

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 airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.029% dearer against SoDEX than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MRNA-USD	173.91	0.0347	pay 0.0043% / 1h	6m 41s	$40K	$56K	10x
Short	Variational Omni MRNA	173.96	0	get 0.0000% / 8h	5h 06m	$49K	$89K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.029%Rate

Funding earned: −$72.82
Price spread: +0.029% → 0.000%: $2.94
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$77.88
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Variational Omni: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

SoDEX and Variational Omni: 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	173.88	−0.018%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.99	+0.046%	$945K	$658K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.84	−0.040%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.83	−0.046%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.93	+0.012%	$870K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.77	−0.081%	$2.7M	$10.5M	20x	as long as short
Variational Omni MRNAshort	0.0000%	8h	173.96	+0.029%	$49K	$89K	—
GRVT MRNA_USDT_Perp	0.0000%	8h	174.00	+0.053%	$592	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.81	−0.058%	$13K	$434K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.98	+0.040%	$1.6M	$642K	20x	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	−8.792%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.81	−0.058%	$2K	$63K	10x	as long as short
Binance MRNAUSDT	+0.0047%	8h	173.98	+0.040%	$2.2M	$11.3M	20x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.89	−0.012%	$43K	$35K	5x	as long as short
BloFin MRNA-USDT	+0.0052%	8h	173.97	+0.035%	$45K	$29K	20x	as long as short
tradeXYZ xyz:MRNA	+0.0103%	1h	173.85	−0.035%	$2.6M	$4.4M	10x	as long as short
Extended MRNA-USD	+0.0104%	1h	173.84	−0.043%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.83	−0.046%	$5K	$189K	10x	as long as short
edgeX MRNAUSDC	+0.0340%	4h	173.98	+0.040%	$3K	$245K	10x	as long as short
SoDEX MRNA-USDlong	+0.0347%	1h	173.91	long leg	$40K	$56K	10x
Lighter MRNA	+0.1304%	1h	173.98	+0.040%	$104K	$1.1M	10x	as long as short