Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.026%

Price spread now: Bitget against Bybit−0.104%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1131.129% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)+0.225%+$22 · spread now −0.104%, 7d avg +0.026%

Together, before fees+0.293%+$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.130% cheaper against Bybit than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MRNAUSDT	173.43	0	get 0.0000% / 8h	7h 51m	$941K	$1.0M	25x
Short	Bitget MRNAUSDT	173.25	0	get 0.0000% / 8h	7h 51m	$2.6M	$10.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.104%Rate

Funding earned: $0
Price spread: −0.104% → +0.026%: −$13
Slippage, 4 orders: −$89.91
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$125.91
Costs to cover: 1.129%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Bitget: live order book, 2 min ago.

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, 4 min ago	4.62 bp	46.2 bp −$46	604.3 bp −$6,043	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.31 bp	9.4 bp −$9	36.6 bp −$366	doesn't fit	doesn't fit

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	173.22	−0.124%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.45	+0.012%	$2.2M	$11.4M	20x	as long as short
Bybit MRNAUSDTlong	0.0000%	8h	173.43	long leg	$941K	$1.0M	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	173.35	−0.046%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.32	−0.063%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.24	−0.110%	$873K	$1.1M	20x	as long as short
Bitget MRNAUSDTshort	0.0000%	8h	173.25	−0.104%	$2.6M	$10.4M	20x
Variational Omni MRNA	0.0000%	8h	173.43	−0.001%	$49K	$89K	—	as long as short
HTX MRNA-USDT	0.0000%	8h	173.11	−0.183%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.40	−0.017%	$1.6M	$647K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MRNA-USDT	+0.0009%	8h	173.44	+0.006%	$44K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.539%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.15	−0.161%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.22	−0.121%	$43K	$38K	5x	as long as short
edgeX MRNAUSDC	+0.0188%	4h	173.28	−0.088%	$3K	$244K	10x	as long as short
Phoenix MRNA	+0.0231%	1h	173.22	−0.121%	$5K	$193K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0360%	8h	173.23	−0.114%	$440	$163K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0404%	1h	173.32	−0.063%	$2.6M	$4.2M	10x	as long as short
Extended MRNA-USD	+0.0448%	1h	173.34	−0.052%	$32K	$32K	10x	as long as short
SoDEX MRNA-USD	+0.0687%	1h	173.36	−0.040%	$40K	$66K	10x	as long as short
Lighter MRNA	+0.0880%	1h	173.36	−0.040%	$123K	$1.0M	10x	as long as short