Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h −0.016%

Price spread now: Injective against BloFin−7.843%7-day average — · you buy dearer than you sell

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

Long on BloFin 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 7.843% cheaper against BloFin than usual: you would sell low and buy high (spread −7.843% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$784 on $10k: about years of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MRNA-USDT	172.12	0.0020	pay 0.0020% / 8h	2h 24m	$45K	$29K	20x
Short	Injective MRNA/USDC PERP	158.62	0.0033	get 0.0004% / 1h	24m 01s	$18K	$8K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −7.843%Rate

Funding earned: $2.84
Price spread: −7.843% → 0.000%: −$784.34
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$793.52
Costs to cover: 0.120%
Break-even: 1965.1 days

Slippage unknown: BloFin: no order-book sample; 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 BloFin no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

BloFin and 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
Lighter MRNA	−0.1280%	1h	172.34	+0.128%	$156K	$1.2M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.08	−0.021%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.14	+0.012%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.06	−0.035%	$935K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.00	−0.070%	$1.3M	$5.3M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.22	+0.058%	$860K	$999K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.20	+0.046%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.18	+0.033%	$55K	$96K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.33	+0.120%	$546	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.08	−0.024%	$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	172.14	+0.012%	$1.5M	$653K	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.02	−0.058%	$1.1M	$2.5M	10x	as long as short
BloFin MRNA-USDTlong	+0.0020%	8h	172.12	long leg	$45K	$29K	20x
Injective MRNA/USDC PERPshort	+0.0033%	1h	158.62	−7.843%	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	172.06	−0.035%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	171.99	−0.076%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.02	−0.058%	$2.5M	$4.5M	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	172.11	−0.006%	$40K	$56K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	171.91	−0.122%	$42K	$35K	5x	as long as short
Phoenix MRNA	+0.0185%	1h	172.11	−0.006%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0718%	4h	172.17	+0.029%	$3K	$247K	10x	as long as short