Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.071%

Price spread now: Binance against Lighter+0.093%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$580.583% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.298%−$30 on $10k

Price spread, last 7 days−0.156%−$16 · spread now +0.093%, 7d avg −0.013%

Together, before fees−0.455%+ Points / potential airdropLighter: Season 3 · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.106% dearer against Lighter than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of −0.013%): +$11 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MRNA	171.54	0.0120	pay 0.0015% / 1h	26m 48s	$246K	$1.5M	10x
Short	Binance MRNAUSDT	171.70	0	get 0.0000% / 8h	5h 26m	$2.1M	$12.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.093%Rate

Funding earned: −$25.2
Price spread: +0.093% → −0.013%: $10.64
Slippage, 4 orders: −$48.26
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$72.82
Costs to cover: 0.583%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Binance: live order book, 6 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 Lighter live order book, 3 min ago	2.63 bp	15.8 bp −$16	47.9 bp −$479	183.3 bp −$18.3K	doesn't fit
Sell Binance live order book, 6 min ago	0.88 bp	18.6 bp −$19	57.3 bp −$573	doesn't fit	doesn't fit

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
edgeX MRNAUSDC	−0.0314%	4h	171.32	−0.126%	$3K	$255K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	171.15	−0.226%	$25K	$81K	20x	as long as short
Binance MRNAUSDTshort	0.0000%	8h	171.70	+0.093%	$2.1M	$12.0M	20x
Bybit MRNAUSDT	0.0000%	8h	171.33	−0.122%	$926K	$621K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	171.65	+0.064%	$1.2M	$5.5M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	171.23	−0.181%	$1.1M	$2.4M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	171.55	+0.006%	$887K	$998K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	171.56	+0.012%	$2.7M	$11.2M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	171.05	−0.283%	$59K	$91K	—	as long as short
HTX MRNA-USDT	0.0000%	8h	171.55	+0.008%	$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	171.64	+0.058%	$1.5M	$689K	20x	as long as short
BloFin MRNA-USDT	+0.0029%	8h	171.32	−0.128%	$46K	$30K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.532%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	171.02	−0.303%	$2K	$64K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	171.15	−0.227%	$42K	$39K	5x	as long as short
Extended MRNA-USD	+0.0072%	1h	171.57	+0.019%	$31K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0085%	1h	171.55	+0.006%	$2.6M	$4.8M	10x	as long as short
Lighter MRNAlong	+0.0120%	1h	171.54	long leg	$246K	$1.5M	10x
Phoenix MRNA	+0.0278%	1h	170.99	−0.321%	$5K	$205K	10x	as long as short
SoDEX MRNA-USD	+0.0323%	1h	171.46	−0.047%	$40K	$55K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0537%	8h	171.11	−0.253%	$809	$128K	10x	as long as short