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 −0.017%

Price spread now: Bybit against Gate−0.023%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$204as in the Funding arb table

Net, price: spread back to 7d avg − costs−$198as in the Price arb table

costs, in and out, $10k−$1951.945% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now −0.023%, 7d avg +0.009%

Together, before fees−0.123%−$12 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: Bybit is 0.032% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MRNA_USDT	172.64	0	get 0.0000% / 8h	11m 47s	$881K	$984K	20x
Short	Bybit MRNAUSDT	172.60	0	get 0.0000% / 8h	11m 47s	$937K	$600K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → +0.009%: −$3.18
Slippage, 4 orders: −$168.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$197.71
Costs to cover: 1.945%
Break-even: never at this rate

Slippage from Gate: live order book, 25 min ago; Bybit: live order book, 54 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 Gate live order book, 25 min ago	17.60 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 54 min ago	6.05 bp	35.2 bp −$35	1098.4 bp −$11.0K	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
Lighter MRNA	−0.0064%	1h	172.86	+0.127%	$155K	$1.2M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.59	−0.032%	$26K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.56	−0.046%	$2.1M	$11.2M	20x	as long as short
Bybit MRNAUSDTshort	0.0000%	8h	172.60	−0.023%	$937K	$600K	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	172.53	−0.064%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDTlong	0.0000%	8h	172.64	long leg	$881K	$984K	20x
Bitget MRNAUSDT	0.0000%	8h	172.51	−0.075%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.73	+0.051%	$57K	$92K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.69	+0.026%	$97	$142K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.56	−0.049%	$14K	$430K	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	172.60	−0.023%	$1.6M	$636K	20x	as long as short
QFEX MRNA-USD	+0.0001%	1h	172.58	−0.035%	$1.1M	$2.5M	10x	as long as short
BloFin MRNA-USDT	+0.0007%	8h	172.76	+0.070%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.121%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.58	−0.035%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.57	−0.041%	$43K	$35K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0077%	1h	172.54	−0.058%	$2.5M	$4.3M	10x	as long as short
Extended MRNA-USD	+0.0080%	1h	172.52	−0.069%	$32K	$32K	10x	as long as short
SoDEX MRNA-USD	+0.0088%	1h	172.54	−0.058%	$40K	$55K	10x	as long as short
edgeX MRNAUSDC	+0.0153%	4h	172.62	−0.012%	$3K	$251K	10x	as long as short
Phoenix MRNA	+0.0230%	1h	172.70	+0.035%	$5K	$191K	10x	as long as short