Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.026%

Price spread now: Phemex against Bitget+0.150%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1151.149% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.156%+$16 · spread now +0.150%, 7d avg +0.025%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.125% dearer against Bitget than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MRNAUSDT	173.69	0	get 0.0000% / 8h	5h 02m	$2.7M	$10.5M	20x
Short	Phemex MRNAUSDT	173.95	0	get 0.0000% / 8h	5h 02m	$1.6M	$641K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.150%Rate

Funding earned: $0
Price spread: +0.150% → +0.025%: $12.52
Slippage, 4 orders: −$90.9
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$102.38
Costs to cover: 1.149%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Phemex: live order book, 1 min ago.

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 Bitget live order book, 1 min ago	2.01 bp	15.4 bp −$15	27.2 bp −$272	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	1.44 bp	42.1 bp −$42	doesn't fit	doesn't fit	doesn't fit

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	173.78	+0.052%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.87	+0.104%	$944K	$658K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.77	+0.046%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.76	+0.040%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.86	+0.098%	$869K	$1.0M	20x	as long as short
Bitget MRNAUSDTlong	0.0000%	8h	173.69	long leg	$2.7M	$10.5M	20x
Variational Omni MRNA	0.0000%	8h	173.96	+0.153%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.99	+0.175%	$592	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.39	−0.174%	$13K	$433K	20x	as long as short
Phemex MRNAUSDTshort	0.0000%	8h	173.95	+0.150%	$1.6M	$641K	20x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.676%	$18K	$8K	12x	as long as short
Binance MRNAUSDT	+0.0040%	8h	173.89	+0.115%	$2.2M	$11.3M	20x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.79	+0.058%	$2K	$63K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.60	−0.052%	$43K	$35K	5x	as long as short
BloFin MRNA-USDT	+0.0069%	8h	173.88	+0.109%	$45K	$29K	20x	as long as short
Extended MRNA-USD	+0.0088%	1h	173.71	+0.012%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0089%	1h	173.72	+0.017%	$2.6M	$4.4M	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.93	+0.138%	$5K	$189K	10x	as long as short
SoDEX MRNA-USD	+0.0303%	1h	173.88	+0.109%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0597%	4h	173.96	+0.157%	$3K	$245K	10x	as long as short
Lighter MRNA	+0.1232%	1h	173.93	+0.138%	$104K	$1.1M	10x	as long as short