Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against Bitget−6.951%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Injective is 6.951% cheaper against Bitget than usual: you would sell low and buy high (spread −6.951% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$695 on $10k: about 23 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MRNAUSDT	170.47	0	get 0.0000% / 8h	7h 40m	$2.6M	$10.6M	20x
Short	Injective MRNA/USDC PERP	158.62	0.0033	get 0.0004% / 1h	40m 53s	$18K	$8K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −6.951%Rate

Funding earned: $7
Price spread: −6.951% → 0.000%: −$695.14
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$700.16
Costs to cover: 0.120%
Break-even: 707.2 days

Slippage unknown: Bitget: live order book, 3 min ago; Injective: 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 Bitget live order book, 3 min ago	4.97 bp	19.2 bp −$19	63.8 bp −$638	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0010%	4h	171.29	+0.483%	$3K	$253K	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	170.82	+0.205%	$1.1M	$2.6M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	170.88	+0.241%	$26K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	170.64	+0.099%	$2.1M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	170.37	−0.059%	$916K	$608K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	170.50	+0.018%	$1.2M	$5.3M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	170.52	+0.029%	$873K	$979K	20x	as long as short
Bitget MRNAUSDTlong	0.0000%	8h	170.47	long leg	$2.6M	$10.6M	20x
Variational Omni MRNA	0.0000%	8h	170.92	+0.262%	$54K	$92K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	171.08	+0.358%	$2	$133K	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	171.02	+0.322%	$14K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	170.58	+0.065%	$1.5M	$646K	20x	as long as short
BloFin MRNA-USDT	+0.0019%	8h	170.94	+0.276%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERPshort	+0.0033%	1h	158.62	−6.951%	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	170.75	+0.164%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	170.50	+0.020%	$31K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	170.41	−0.035%	$2.5M	$4.4M	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	170.51	+0.023%	$39K	$55K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	171.22	+0.440%	$43K	$36K	5x	as long as short
Phoenix MRNA	+0.0278%	1h	171.09	+0.364%	$5K	$191K	10x	as long as short
Lighter MRNA	+0.0320%	1h	170.53	+0.035%	$120K	$1.2M	10x	as long as short