Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against BloFin−0.230%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 tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.230% cheaper against BloFin than usual: you would sell low and buy high (spread −0.230% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 17 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MRNA-USDT	174.00	0.0043	pay 0.0043% / 8h	5h 00m	$45K	$29K	20x
Short	tradeXYZ xyz:MRNA	173.60	0.0088	get 0.0011% / 1h	0m 53s	$2.6M	$4.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.230%Rate

Funding earned: $9.39
Price spread: −0.230% → 0.000%: −$22.99
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$43.6
Costs to cover: 0.300%
Break-even: 39.5 days

Slippage unknown: BloFin: no order-book sample; tradeXYZ: live order book, 7 min ago. 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 tradeXYZ live order book, 7 min ago	1.15 bp	12.6 bp −$13	doesn't fit	doesn't fit	doesn't fit

BloFin: 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
Aster MRNAUSDT	0.0000%	8h	173.67	−0.191%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.80	−0.115%	$944K	$658K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.73	−0.155%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.76	−0.138%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.59	−0.236%	$868K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.68	−0.184%	$2.7M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.87	−0.074%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.94	−0.034%	$591	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.85	−0.088%	$13K	$433K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.77	−0.132%	$1.6M	$641K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.839%	$18K	$8K	12x	as long as short
Binance MRNAUSDT	+0.0040%	8h	173.79	−0.121%	$2.2M	$11.3M	20x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.78	−0.126%	$2K	$63K	10x	as long as short
BloFin MRNA-USDTlong	+0.0043%	8h	174.00	long leg	$45K	$29K	20x
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.60	−0.230%	$43K	$35K	5x	as long as short
tradeXYZ xyz:MRNAshort	+0.0088%	1h	173.60	−0.230%	$2.6M	$4.4M	10x
Extended MRNA-USD	+0.0088%	1h	173.58	−0.239%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.87	−0.075%	$5K	$189K	10x	as long as short
SoDEX MRNA-USD	+0.0297%	1h	173.85	−0.086%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0597%	4h	173.96	−0.021%	$3K	$245K	10x	as long as short
Lighter MRNA	+0.1208%	1h	173.91	−0.052%	$104K	$1.1M	10x	as long as short