Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.014%

Price spread now: Ondo Perps against Binance−0.128%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 6 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 0.128% cheaper against Binance than usual: you would sell low and buy high (spread −0.128% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 8.4 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MRNAUSDT	172.51	0	get 0.0000% / 8h	1h 38m	$2.1M	$11.4M	20x
Short	Ondo Perps MRNA-USD.P	172.29	0.0050	get 0.0006% / 1h	38m 32s	$43K	$35K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Binance. 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 BinancebpFee Ondo PerpsbpOrdersPrice spread, now −0.128%Rate

Funding earned: $10.58
Price spread: −0.128% → 0.000%: −$12.75
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$17.17
Costs to cover: 0.150%
Break-even: 18.4 days

Slippage unknown: Binance: live order book, 1 min ago; 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 Binance live order book, 1 min ago	2.03 bp	17.4 bp −$17	49.4 bp −$494	638.8 bp −$63.9K	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

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 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	−0.0120%	1h	172.64	+0.075%	$156K	$1.2M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.48	−0.018%	$26K	$83K	20x	as long as short
Binance MRNAUSDTlong	0.0000%	8h	172.51	long leg	$2.1M	$11.4M	20x
Bybit MRNAUSDT	0.0000%	8h	172.51	0.000%	$937K	$621K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.47	−0.023%	$1.3M	$5.4M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.40	−0.064%	$1.1M	$2.5M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.44	−0.041%	$861K	$994K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.48	−0.017%	$2.6M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.49	−0.009%	$56K	$94K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.55	+0.023%	$550	$147K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRNA-USDT	0.0000%	8h	172.48	−0.020%	$13K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.49	−0.012%	$1.6M	$654K	20x	as long as short
BloFin MRNA-USDT	+0.0009%	8h	172.63	+0.070%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.052%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.36	−0.087%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.34	−0.096%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.35	−0.093%	$2.5M	$4.5M	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	172.46	−0.029%	$40K	$56K	10x	as long as short
Ondo Perps MRNA-USD.Pshort	+0.0050%	1h	172.29	−0.128%	$43K	$35K	5x
edgeX MRNAUSDC	+0.0104%	4h	172.50	−0.005%	$3K	$248K	10x	as long as short
Phoenix MRNA	+0.0232%	1h	172.50	−0.006%	$5K	$191K	10x	as long as short