Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0499%/8h= +54.7% APRpaid last 24h +0.062%

Price spread now: SoDEX against Binance+0.011%7-day average — · you sell dearer than you buy

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

Long on Binance Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$15 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MRNAUSDT	174.42	0.0015	pay 0.0015% / 8h	3h 41m	$2.2M	$11.3M	20x
Short	SoDEX MRNA-USD	174.44	0.0514	get 0.0064% / 1h	41m 18s	$40K	$56K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.011%Rate

Funding earned: $104.84
Price spread: +0.011% → 0.000%: $1.15
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $87.99
Costs to cover: 0.180%
Break-even: 1.1 days

Slippage unknown: Binance: live order book, 14 min ago; SoDEX: 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, 14 min ago	1.73 bp	10.6 bp −$11	47.7 bp −$477	579.6 bp −$58.0K	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0045%	4h	174.44	+0.012%	$3K	$246K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	174.35	−0.038%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	174.51	+0.052%	$951K	$616K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	174.45	+0.017%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	174.32	−0.057%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	174.45	+0.017%	$871K	$997K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	174.42	0.000%	$2.8M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	174.49	+0.040%	$50K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	174.38	−0.023%	$17	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	174.55	+0.077%	$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	174.47	+0.029%	$1.6M	$644K	20x	as long as short
BloFin MRNA-USDT	+0.0002%	8h	174.46	+0.023%	$45K	$29K	20x	as long as short
Binance MRNAUSDTlong	+0.0015%	8h	174.42	long leg	$2.2M	$11.3M	20x
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−9.059%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	174.22	−0.115%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	174.30	−0.070%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	174.33	−0.052%	$2.7M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	174.37	−0.029%	$43K	$35K	5x	as long as short
Phoenix MRNA	+0.0277%	1h	174.42	0.000%	$5K	$191K	10x	as long as short
SoDEX MRNA-USDshort	+0.0514%	1h	174.44	+0.011%	$40K	$56K	10x
Lighter MRNA	+0.0728%	1h	174.55	+0.075%	$158K	$1.1M	10x	as long as short