Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.042%

Price spread now: Bybit against tradeXYZ+0.086%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$224as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$2032.031% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.086%, 7d avg +0.011%

Together, before fees−0.266%+ Points / potential airdroptradeXYZ: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.075% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of +0.011%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MRNA	173.72	0.0089	pay 0.0011% / 1h	2m 08s	$2.6M	$4.4M	10x
Short	Bybit MRNAUSDT	173.87	0	get 0.0000% / 8h	5h 02m	$944K	$658K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$18.64
Price spread: +0.086% → +0.011%: $7.51
Slippage, 4 orders: −$174.06
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$214.19
Costs to cover: 2.031%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; Bybit: live order book, 23 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 tradeXYZ live order book, 6 min ago	1.15 bp	17.1 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 23 min ago	4.60 bp	78.4 bp −$78	1448.8 bp −$14.5K	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	+0.035%	$28K	$82K	20x	as long as short
Bybit MRNAUSDTshort	0.0000%	8h	173.87	+0.086%	$944K	$658K	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	173.77	+0.029%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.76	+0.023%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.86	+0.081%	$869K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.69	−0.017%	$2.7M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.96	+0.136%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.99	+0.158%	$592	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.39	−0.191%	$13K	$433K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.95	+0.132%	$1.6M	$641K	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	−8.692%	$18K	$8K	12x	as long as short
Binance MRNAUSDT	+0.0040%	8h	173.89	+0.097%	$2.2M	$11.3M	20x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.79	+0.040%	$2K	$63K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.60	−0.069%	$43K	$35K	5x	as long as short
BloFin MRNA-USDT	+0.0069%	8h	173.88	+0.092%	$45K	$29K	20x	as long as short
Extended MRNA-USD	+0.0088%	1h	173.71	−0.006%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNAlong	+0.0089%	1h	173.72	long leg	$2.6M	$4.4M	10x
Phoenix MRNA	+0.0185%	1h	173.93	+0.121%	$5K	$189K	10x	as long as short
SoDEX MRNA-USD	+0.0303%	1h	173.88	+0.092%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0597%	4h	173.96	+0.140%	$3K	$245K	10x	as long as short
Lighter MRNA	+0.1232%	1h	173.93	+0.121%	$104K	$1.1M	10x	as long as short