Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Arcus against Bybit−0.122%46s7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Arcus

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. Arcus is 0.122% cheaper against Bybit than usual: you would sell low and buy high (spread −0.122% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 10 days of funding at the current rate (+$1 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MRNAUSDT	172.47	0	get 0.0000% / 8h	2h 10m	$937K	$621K	25x
Short	Arcus MRNA-USD	172.26	0.0040	get 0.0005% / 1h	10m 47s	$2K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now −0.122%Rate

Funding earned: $8.46
Price spread: −0.122% → 0.000%: −$12.18
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$19.22
Costs to cover: 0.155%
Break-even: 22.9 days

Slippage unknown: Bybit: live order book, 65 min ago; Arcus: 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 Bybit live order book, 65 min ago	6.04 bp	54.0 bp −$54	658.0 bp −$6,580	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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	−0.1128%	1h	172.72	+0.145%	$156K	$1.2M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.56	+0.053%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.63	+0.095%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDTlong	0.0000%	8h	172.47	long leg	$937K	$621K	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	172.54	+0.041%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.51	+0.023%	$862K	$999K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.59	+0.070%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.60	+0.078%	$56K	$96K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.24	−0.134%	$2	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.55	+0.047%	$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	172.61	+0.081%	$1.6M	$654K	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.36	−0.064%	$1.1M	$2.5M	10x	as long as short
BloFin MRNA-USDT	+0.0013%	8h	172.42	−0.029%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.030%	$18K	$8K	12x	as long as short
Arcus MRNA-USDshort	+0.0040%	1h	172.26	−0.122%	$2K	$65K	10x
Extended MRNA-USD	+0.0048%	1h	172.55	+0.046%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.57	+0.058%	$2.5M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.33	−0.081%	$43K	$35K	5x	as long as short
Phoenix MRNA	+0.0185%	1h	172.18	−0.168%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0187%	1h	172.52	+0.029%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0591%	4h	172.44	−0.019%	$3K	$247K	10x	as long as short