Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.023%

Price spread now: tradeXYZ against Variational Omni−0.229%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 tradeXYZ

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 · tradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.229% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.229% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 15 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MRNA	174.17	0	get 0.0000% / 8h	3h 16m	$56K	$96K	—
Short	tradeXYZ xyz:MRNA	173.77	0.0050	get 0.0006% / 1h	16m 37s	$2.7M	$4.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.229%Rate

Funding earned: $10.5
Price spread: −0.229% → 0.000%: −$22.94
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$30.44
Costs to cover: 0.180%
Break-even: 27.3 days

Slippage unknown: Variational Omni: no order-book sample; tradeXYZ: live order book, 12 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 tradeXYZ live order book, 12 min ago	1.43 bp	15.3 bp −$15	21.0 bp −$210	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
edgeX MRNAUSDC	−0.0517%	4h	174.17	+0.003%	$3K	$247K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.97	−0.114%	$28K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	174.10	−0.040%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.91	−0.149%	$948K	$614K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.94	−0.132%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.80	−0.212%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.98	−0.109%	$870K	$999K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	174.01	−0.092%	$2.8M	$10.4M	20x	as long as short
Variational Omni MRNAlong	0.0000%	8h	174.17	long leg	$56K	$96K	—
GRVT MRNA_USDT_Perp	0.0000%	8h	174.21	+0.022%	$660	$149K	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	173.68	−0.280%	$13K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	174.01	−0.092%	$1.6M	$643K	20x	as long as short
BloFin MRNA-USDT	+0.0020%	8h	174.05	−0.069%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.928%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.90	−0.155%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	173.74	−0.247%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNAshort	+0.0050%	1h	173.77	−0.229%	$2.7M	$4.5M	10x
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.94	−0.132%	$43K	$35K	5x	as long as short
SoDEX MRNA-USD	+0.0153%	1h	173.89	−0.160%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0277%	1h	173.88	−0.166%	$5K	$191K	10x	as long as short
Lighter MRNA	+0.0600%	1h	174.22	+0.029%	$158K	$1.1M	10x	as long as short