Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: QFEX against Variational Omni−0.074%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 QFEX

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.074% cheaper against Variational Omni than usual: you would sell low and buy high, −$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MRNA	173.02	0	get 0.0000% / 8h	2h 12m	$28K	$77K	—
Short	QFEX MRNA-USD	172.89	0	get 0.0000% / 1h	12m 11s	$1.1M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.074%Rate

Funding earned: $0
Price spread: −0.074% → 0.000%: −$7.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$17.35
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; QFEX: live order book, 10 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 QFEX live order book, 10 min ago	6.08 bp	20.3 bp −$20	25.4 bp −$254	doesn't fit	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
Aster MRNAUSDT	0.0000%	8h	173.02	+0.004%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.04	+0.013%	$2.2M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.99	−0.016%	$936K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.88	−0.079%	$1.4M	$4.9M	20x	as long as short
QFEX MRNA-USDshort	0.0000%	1h	172.89	−0.074%	$1.1M	$2.6M	10x
Gate MRNA_USDT	0.0000%	8h	172.91	−0.062%	$882K	$1.1M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.84	−0.102%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNAlong	0.0000%	8h	173.02	long leg	$28K	$77K	—
GRVT MRNA_USDT_Perp	0.0000%	8h	173.11	+0.052%	$2	$172K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.12	+0.057%	$12K	$429K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	172.99	−0.016%	$1.6M	$633K	20x	as long as short
BloFin MRNA-USDT	+0.0016%	8h	173.15	+0.077%	$44K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.321%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.93	−0.050%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.11	+0.054%	$43K	$39K	5x	as long as short
Lighter MRNA	+0.0104%	1h	173.04	+0.013%	$125K	$1.0M	10x	as long as short
edgeX MRNAUSDC	+0.0141%	4h	173.12	+0.059%	$3K	$243K	10x	as long as short
Extended MRNA-USD	+0.0152%	1h	172.96	−0.035%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0156%	1h	172.97	−0.027%	$2.6M	$4.2M	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.08	+0.036%	$5K	$192K	10x	as long as short
SoDEX MRNA-USD	+0.0482%	1h	172.97	−0.027%	$69	$55K	10x	as long as short