Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0272%/8h= +29.8% APRpaid last 24h +0.079%

Price spread now: Lighter against Variational Omni−0.057%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.057% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.057% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MRNA	170.75	0	get 0.0000% / 8h	7h 38m	$54K	$92K	—
Short	Lighter MRNA	170.65	0.0272	get 0.0034% / 1h	38m 36s	$120K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.057%Rate

Funding earned: $57.12
Price spread: −0.057% → 0.000%: −$5.67
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $51.45
Costs to cover: 0.000%
Break-even: 0.7 days

Slippage unknown: Variational Omni: no order-book sample; Lighter: live order book, 2 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Lighter live order book, 2 min ago	2.05 bp	4.3 bp −$4	39.1 bp −$391	182.9 bp −$18.3K	doesn't fit

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
BloFin MRNA-USDT	−0.0027%	8h	170.53	−0.127%	$45K	$29K	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	170.33	−0.244%	$1.1M	$2.6M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	170.53	−0.126%	$26K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	170.48	−0.156%	$2.1M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	170.38	−0.215%	$916K	$608K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	170.39	−0.209%	$1.2M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	170.52	−0.133%	$873K	$979K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	170.41	−0.197%	$2.6M	$10.6M	20x	as long as short
Variational Omni MRNAlong	0.0000%	8h	170.75	long leg	$54K	$92K	—
GRVT MRNA_USDT_Perp	0.0000%	8h	171.08	+0.195%	$2	$133K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRNA-USDT	0.0000%	8h	170.31	−0.256%	$14K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	170.58	−0.098%	$1.5M	$646K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.102%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	170.38	−0.215%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	170.40	−0.201%	$31K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	170.42	−0.191%	$2.5M	$4.4M	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	170.47	−0.162%	$39K	$55K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	170.07	−0.396%	$43K	$36K	5x	as long as short
Lighter MRNAshort	+0.0272%	1h	170.65	−0.057%	$120K	$1.2M	10x
Phoenix MRNA	+0.0278%	1h	171.09	+0.201%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0374%	4h	170.66	−0.051%	$3K	$251K	10x	as long as short