Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h −0.002%

Price spread now: Ondo Perps against Variational Omni−0.188%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 Ondo Perps

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 · Ondo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Ondo Perps is 0.188% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.188% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 36 days 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	172.92	0.0033	pay 0.0033% / 8h	5h 59m	$49K	$89K	—
Short	Ondo Perps MRNA-USD.P	172.60	0.0050	get 0.0006% / 1h	59m 29s	$43K	$36K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.188%Rate

Funding earned: $3.66
Price spread: −0.188% → 0.000%: −$18.78
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$20.12
Costs to cover: 0.050%
Break-even: 45.5 days

Slippage unknown: Variational Omni: no order-book sample; Ondo Perps: 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 Ondo Perps no order-book sample	—	—	—	—	—

Variational Omni and Ondo Perps: 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 20 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
Lighter MRNA	−0.0208%	1h	172.88	−0.026%	$104K	$1.1M	10x	as long as short
edgeX MRNAUSDC	−0.0191%	4h	172.91	−0.011%	$3K	$247K	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.81	−0.066%	$1.1M	$2.7M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.83	−0.054%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.25	+0.188%	$939K	$666K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.23	+0.177%	$1.3M	$5.3M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.87	−0.032%	$861K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.91	−0.009%	$2.6M	$10.6M	20x	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.84	−0.050%	$325	$150K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.03	+0.063%	$12K	$428K	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	172.89	−0.020%	$1.6M	$648K	20x	as long as short
Variational Omni MRNAlong	+0.0033%	8h	172.92	long leg	$49K	$89K	—
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.272%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.77	−0.089%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.82	−0.062%	$32K	$32K	10x	as long as short
Ondo Perps MRNA-USD.Pshort	+0.0050%	1h	172.60	−0.188%	$43K	$36K	5x
Binance MRNAUSDT	+0.0068%	8h	173.02	+0.055%	$2.1M	$11.4M	20x	as long as short
SoDEX MRNA-USD	+0.0154%	1h	172.85	−0.043%	$40K	$56K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0269%	1h	173.07	+0.084%	$2.6M	$4.4M	10x	as long as short
Phoenix MRNA	+0.0279%	1h	172.84	−0.049%	$5K	$189K	10x	as long as short