Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.042%

Price spread now: Aster against tradeXYZ−0.003%7-day average — · you buy dearer than you sell

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

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

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

Together, before fees—+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MRNA	172.59	0.0050	pay 0.0006% / 1h	13m 29s	$2.6M	$4.4M	10x
Short	Aster MRNAUSDT	172.58	0	get 0.0000% / 8h	6h 13m	$28K	$81K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$10.5
Price spread: −0.003% → 0.000%: −$0.31
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$36.81
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 5 min ago; Aster: 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 tradeXYZ live order book, 5 min ago	1.45 bp	17.7 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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 20 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
Lighter MRNA	−0.0496%	1h	172.66	+0.041%	$104K	$1.1M	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.57	−0.012%	$1.1M	$2.7M	10x	as long as short
Aster MRNAUSDTshort	0.0000%	8h	172.58	−0.003%	$28K	$81K	20x
Bybit MRNAUSDT	0.0000%	8h	172.69	+0.058%	$936K	$740K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.51	−0.046%	$1.3M	$5.3M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.64	+0.029%	$865K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.59	0.000%	$2.6M	$10.5M	20x	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.63	+0.024%	$392	$151K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.34	−0.143%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.69	+0.058%	$1.6M	$651K	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.094%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.54	−0.029%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.47	−0.072%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNAlong	+0.0050%	1h	172.59	long leg	$2.6M	$4.4M	10x
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.48	−0.064%	$43K	$36K	5x	as long as short
Variational Omni MRNA	+0.0057%	8h	172.57	−0.010%	$49K	$89K	—	as long as short
Binance MRNAUSDT	+0.0089%	8h	172.67	+0.046%	$2.1M	$11.4M	20x	as long as short
SoDEX MRNA-USD	+0.0150%	1h	172.66	+0.041%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0279%	1h	172.61	+0.012%	$5K	$193K	10x	as long as short
edgeX MRNAUSDC	+0.0406%	4h	172.61	+0.011%	$3K	$247K	10x	as long as short