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 −0.017%

Price spread now: Bybit against Gate+0.104%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1571.566% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 4 days (all we have)−0.154%−$15 · spread now +0.104%, 7d avg +0.006%

Together, before fees−0.251%−$25 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: Bybit is 0.098% dearer against Gate than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MRNA_USDT	173.38	0	get 0.0000% / 8h	7h 48m	$873K	$1.1M	20x
Short	Bybit MRNAUSDT	173.56	0	get 0.0000% / 8h	7h 48m	$942K	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.104%Rate

Funding earned: $0
Price spread: +0.104% → +0.006%: $9.8
Slippage, 4 orders: −$130.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$146.77
Costs to cover: 1.566%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Bybit: live order book, 2 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 Gate live order book, 3 min ago	19.04 bp	26.8 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	6.05 bp	36.6 bp −$37	709.6 bp −$7,096	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	173.41	+0.017%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.65	+0.153%	$2.2M	$11.4M	20x	as long as short
Bybit MRNAUSDTshort	0.0000%	8h	173.56	+0.104%	$942K	$1.0M	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	173.73	+0.202%	$1.4M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.46	+0.046%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDTlong	0.0000%	8h	173.38	long leg	$873K	$1.1M	20x
Bitget MRNAUSDT	0.0000%	8h	173.50	+0.069%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.43	+0.028%	$49K	$89K	—	as long as short
HTX MRNA-USDT	0.0000%	8h	173.64	+0.151%	$12K	$428K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.63	+0.144%	$1.6M	$647K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MRNA-USDT	+0.0007%	8h	173.52	+0.081%	$44K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.513%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.33	−0.029%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.34	−0.023%	$43K	$38K	5x	as long as short
edgeX MRNAUSDC	+0.0188%	4h	173.28	−0.059%	$3K	$244K	10x	as long as short
Phoenix MRNA	+0.0231%	1h	173.40	+0.012%	$5K	$193K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0293%	1h	173.58	+0.115%	$2.6M	$4.2M	10x	as long as short
Extended MRNA-USD	+0.0336%	1h	173.57	+0.110%	$32K	$32K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0360%	8h	173.23	−0.086%	$440	$163K	10x	as long as short
SoDEX MRNA-USD	+0.0804%	1h	173.55	+0.098%	$40K	$66K	10x	as long as short
Lighter MRNA	+0.1088%	1h	173.53	+0.087%	$123K	$1.0M	10x	as long as short