Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0092%/8h= +10.0% APRpaid last 24h +0.016%

Price spread now: Ondo Perps against BloFin−0.239%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Ondo Perps is 0.239% cheaper against BloFin than usual: you would sell low and buy high (spread −0.239% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 8.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MRNA-USDT	171.23	−0.0013	get 0.0013% / 8h	5h 42m	$46K	$30K	20x
Short	Ondo Perps MRNA-USD.P	170.82	0.0078	get 0.0010% / 1h	42m 59s	$42K	$39K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against BloFin. 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 BloFinbpFee Ondo PerpsbpOrdersPrice spread, now −0.239%Rate

Funding earned: $19.22
Price spread: −0.239% → 0.000%: −$23.94
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$21.72
Costs to cover: 0.170%
Break-even: 14.9 days

Slippage unknown: BloFin: 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 BloFin no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

BloFin 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 21 exchanges

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-USDTlong	−0.0013%	8h	171.23	long leg	$46K	$30K	20x
Aster MRNAUSDT	0.0000%	8h	171.06	−0.099%	$26K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	171.18	−0.032%	$2.1M	$11.9M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	171.30	+0.041%	$926K	$621K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	171.13	−0.058%	$1.2M	$5.5M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	170.90	−0.193%	$1.1M	$2.3M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	171.15	−0.047%	$885K	$998K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	171.06	−0.099%	$2.6M	$11.1M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	171.15	−0.049%	$59K	$91K	—	as long as short
HTX MRNA-USDT	0.0000%	8h	171.21	−0.012%	$13K	$434K	20x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	171.29	+0.035%	$1.5M	$683K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.364%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	170.85	−0.222%	$2K	$65K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0053%	1h	171.07	−0.093%	$2.7M	$4.7M	10x	as long as short
Extended MRNA-USD	+0.0064%	1h	171.05	−0.108%	$31K	$32K	10x	as long as short
Ondo Perps MRNA-USD.Pshort	+0.0078%	1h	170.82	−0.239%	$42K	$39K	5x
SoDEX MRNA-USD	+0.0118%	1h	171.08	−0.088%	$40K	$55K	10x	as long as short
Lighter MRNA	+0.0184%	1h	171.23	0.000%	$243K	$1.5M	10x	as long as short
Phoenix MRNA	+0.0278%	1h	171.14	−0.053%	$5K	$205K	10x	as long as short
edgeX MRNAUSDC	+0.0460%	4h	171.17	−0.032%	$3K	$257K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0462%	8h	171.31	+0.047%	$815	$128K	10x	as long as short