Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.011%

Price spread now: Ondo Perps against Bitget−0.133%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 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 0.133% cheaper against Bitget than usual: you would sell low and buy high (spread −0.133% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 8.8 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	Bitget MRNAUSDT	173.12	0	get 0.0000% / 8h	2h 46m	$2.7M	$10.4M	20x
Short	Ondo Perps MRNA-USD.P	172.89	0.0050	get 0.0006% / 1h	46m 11s	$42K	$35K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.133%Rate

Funding earned: $10.58
Price spread: −0.133% → 0.000%: −$13.29
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$19.7
Costs to cover: 0.170%
Break-even: 20.0 days

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	3.47 bp	12.4 bp −$12	62.0 bp −$620	doesn't fit	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	−0.1112%	1h	173.19	+0.040%	$156K	$1.2M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.02	−0.060%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.19	+0.039%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.14	+0.012%	$941K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.88	−0.139%	$1.3M	$5.3M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.92	−0.116%	$864K	$998K	20x	as long as short
Bitget MRNAUSDTlong	0.0000%	8h	173.12	long leg	$2.7M	$10.4M	20x
Variational Omni MRNA	0.0000%	8h	173.09	−0.017%	$55K	$96K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.05	−0.041%	$242	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.87	−0.147%	$13K	$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	173.10	−0.012%	$1.6M	$650K	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.83	−0.168%	$1.1M	$2.6M	10x	as long as short
BloFin MRNA-USDT	+0.0005%	8h	172.94	−0.104%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.376%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.86	−0.150%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.93	−0.109%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	173.00	−0.069%	$2.6M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.Pshort	+0.0050%	1h	172.89	−0.133%	$42K	$35K	5x
Phoenix MRNA	+0.0185%	1h	172.84	−0.162%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0445%	1h	173.14	+0.012%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0689%	4h	172.96	−0.094%	$3K	$248K	10x	as long as short