Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0799%/8h= +87.5% APRpaid last 24h +0.011%

Price spread now: edgeX against Bitget−0.023%74s7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.456% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.391%−$39 on $10k

Price spread, last 3 days (all we have)+0.268%+$27 · spread now −0.023%, 7d avg −0.017%

Together, before fees−0.123%+ Points / potential airdropedgeX: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: +$24 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.391%, so the current rate has only just turned in your favour. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.391% in total (about -20.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MRNAUSDT	172.94	0	get 0.0000% / 8h	3h 30m	$2.7M	$10.3M	20x
Short	edgeX MRNAUSDC	172.90	0.0799	get 0.0400% / 4h	3h 30m	$3K	$241K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bitget. 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 BitgetbpFee edgeXbpOrdersPrice spread, now −0.023%Rate

Funding earned: $167.88
Price spread: −0.023% → −0.017%: −$0.64
Slippage, 4 orders: −$24.56
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $121.69
Costs to cover: 0.456%
Break-even: 1.9 days

Slippage from Bitget: live order book, 4 min ago; edgeX: live order book, 17 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 Bitget live order book, 4 min ago	2.03 bp	14.4 bp −$14	22.0 bp −$220	doesn't fit	doesn't fit
Sell edgeX live order book, 17 min ago	3.76 bp	10.7 bp −$11	doesn't fit	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
BloFin MRNA-USDT	−0.0024%	8h	172.90	−0.023%	$44K	$28K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.94	−0.001%	$30K	$80K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.07	+0.075%	$2.2M	$11.0M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.91	−0.017%	$937K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.97	+0.017%	$1.4M	$4.9M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.88	−0.035%	$1.1M	$2.5M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.91	−0.017%	$882K	$1.1M	20x	as long as short
Bitget MRNAUSDTlong	0.0000%	8h	172.94	long leg	$2.7M	$10.3M	20x
Variational Omni MRNA	0.0000%	8h	172.90	−0.022%	$35K	$70K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.86	−0.046%	$50	$171K	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	173.00	+0.036%	$12K	$427K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.03	+0.052%	$1.6M	$615K	20x	as long as short
Lighter MRNA	+0.0032%	1h	172.97	+0.017%	$126K	$1.0M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.280%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.82	−0.069%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.89	−0.030%	$47K	$16K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.91	−0.017%	$2.6M	$4.1M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.94	0.000%	$42K	$38K	5x	as long as short
SoDEX MRNA-USD	+0.0161%	1h	172.99	+0.029%	$73	$55K	10x	as long as short
Phoenix MRNA	+0.0231%	1h	172.89	−0.029%	$5K	$191K	10x	as long as short
edgeX MRNAUSDCshort	+0.0799%	4h	172.90	−0.023%	$3K	$241K	10x