Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.036%

Price spread now: Bybit against Extended+0.035%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Bybit

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 airdropExtended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.035% dearer against Extended than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MRNA-USD	172.67	0.0048	pay 0.0006% / 1h	5m 04s	$32K	$32K	10x
Short	Bybit MRNAUSDT	172.73	0	get 0.0000% / 8h	2h 05m	$938K	$621K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$10.08
Price spread: +0.035% → 0.000%: $3.54
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.54
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Bybit: live order book, 5 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 Extended no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	6.95 bp	22.5 bp −$23	710.9 bp −$7,109	doesn't fit	doesn't fit

Extended: 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	−0.0976%	1h	172.86	+0.111%	$156K	$1.2M	10x	as long as short
edgeX MRNAUSDC	−0.0750%	4h	172.73	+0.035%	$3K	$248K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.64	−0.018%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.67	+0.001%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDTshort	0.0000%	8h	172.73	+0.035%	$938K	$621K	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	172.60	−0.040%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.57	−0.057%	$862K	$999K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.59	−0.046%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.66	−0.002%	$56K	$96K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.71	+0.025%	$3	$147K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRNA-USDT	0.0000%	8h	172.62	−0.031%	$14K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.62	−0.028%	$1.6M	$654K	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.54	−0.075%	$1.1M	$2.5M	10x	as long as short
BloFin MRNA-USDT	+0.0015%	8h	172.82	+0.088%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.136%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.52	−0.086%	$2K	$65K	10x	as long as short
Extended MRNA-USDlong	+0.0048%	1h	172.67	long leg	$32K	$32K	10x
tradeXYZ xyz:MRNA	+0.0050%	1h	172.69	+0.012%	$2.6M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.47	−0.115%	$43K	$35K	5x	as long as short
Phoenix MRNA	+0.0185%	1h	172.64	−0.017%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0232%	1h	172.62	−0.028%	$40K	$56K	10x	as long as short