Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.007%

Price spread now: Injective against Variational Omni−8.410%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Injective is 8.410% cheaper against Variational Omni than usual: you would sell low and buy high (spread −8.410% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$841 on $10k: about years of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MRNA	173.18	0	get 0.0000% / 8h	3h 00m	$55K	$96K	—
Short	Injective MRNA/USDC PERP	158.62	0.0033	get 0.0004% / 1h	0m 57s	$18K	$8K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −8.410%Rate

Funding earned: $7
Price spread: −8.410% → 0.000%: −$840.99
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$834.01
Costs to cover: 0.000%
Break-even: 841.0 days

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

Variational Omni and Injective: 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
edgeX MRNAUSDC	−0.0090%	4h	173.29	+0.062%	$3K	$248K	10x	as long as short
BloFin MRNA-USDT	−0.0012%	8h	173.35	+0.095%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.17	−0.011%	$28K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.22	+0.019%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.14	−0.026%	$941K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.27	+0.049%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.15	−0.020%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.11	−0.043%	$865K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.21	+0.015%	$2.7M	$10.5M	20x	as long as short
Variational Omni MRNAlong	0.0000%	8h	173.18	long leg	$55K	$96K	—

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	173.33	+0.084%	$258	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.09	−0.058%	$14K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.19	+0.003%	$1.6M	$647K	20x	as long as short
Injective MRNA/USDC PERPshort	+0.0033%	1h	158.62	−8.410%	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	173.11	−0.043%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	173.08	−0.059%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	173.13	−0.032%	$2.7M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.20	+0.009%	$43K	$35K	5x	as long as short
Lighter MRNA	+0.0064%	1h	173.37	+0.107%	$157K	$1.1M	10x	as long as short
SoDEX MRNA-USD	+0.0114%	1h	173.15	−0.020%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0277%	1h	173.22	+0.020%	$5K	$191K	10x	as long as short