Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.005%

Price spread now: Arcus against Gate−0.029%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Arcus

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—needs both histories

Funding pays, the price is against you. Arcus is 0.029% cheaper against Gate than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.4 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	Gate MRNA_USDT	173.57	0	get 0.0000% / 8h	4h 12m	$868K	$1.0M	20x
Short	Arcus MRNA-USD	173.52	0.0040	get 0.0005% / 1h	12m 27s	$2K	$63K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Gate. 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 GatebpFee ArcusbpOrdersPrice spread, now −0.029%Rate

Funding earned: $8.46
Price spread: −0.029% → 0.000%: −$2.88
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$13.92
Costs to cover: 0.195%
Break-even: 18.5 days

Slippage unknown: Gate: live order book, 5 min ago; Arcus: 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 Gate live order book, 5 min ago	12.95 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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	−0.0750%	4h	173.77	+0.114%	$3K	$247K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.51	−0.034%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.68	+0.063%	$946K	$615K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.37	−0.115%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.47	−0.058%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDTlong	0.0000%	8h	173.57	long leg	$868K	$1.0M	20x
Bitget MRNAUSDT	0.0000%	8h	173.61	+0.023%	$2.8M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.70	+0.078%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.81	+0.138%	$229	$146K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.55	−0.014%	$14K	$431K	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	173.51	−0.035%	$1.6M	$640K	20x	as long as short
BloFin MRNA-USDT	+0.0017%	8h	173.78	+0.121%	$45K	$29K	20x	as long as short
Binance MRNAUSDT	+0.0027%	8h	173.53	−0.023%	$2.2M	$11.2M	20x	as long as short
Lighter MRNA	+0.0032%	1h	173.71	+0.081%	$157K	$1.1M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.613%	$18K	$8K	12x	as long as short
Arcus MRNA-USDshort	+0.0040%	1h	173.52	−0.029%	$2K	$63K	10x
Extended MRNA-USD	+0.0048%	1h	173.51	−0.034%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	173.53	−0.023%	$2.7M	$4.4M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.38	−0.109%	$43K	$35K	5x	as long as short
Phoenix MRNA	+0.0230%	1h	173.78	+0.121%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0367%	1h	173.52	−0.029%	$40K	$56K	10x	as long as short