Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: QFEX against Gate+0.006%7-day average −0.217% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.028%−$3 on $10k

Price spread, last 4 days (all we have)−0.143%−$14 · spread now +0.006%, 7d avg −0.217%

Together, before fees−0.171%−$17 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: QFEX is 0.222% dearer against Gate than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of −0.217%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MRNA_USDT	172.61	0	get 0.0000% / 8h	38m 15s	$879K	$1.1M	20x
Short	QFEX MRNA-USD	172.62	0	get 0.0000% / 1h	38m 15s	$1.1M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0
Price spread: +0.006% → −0.217%: $22.24
Slippage, 4 orders: −$46.75
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$49.51
Costs to cover: 0.718%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; QFEX: live order book, 4 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, 4 min ago	12.74 bp	20.4 bp −$20	552.2 bp −$5,522	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.32 bp	14.2 bp −$14	18.9 bp −$189	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
BloFin MRNA-USDT	−0.0018%	8h	172.88	+0.156%	$44K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.57	−0.022%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.71	+0.059%	$2.2M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.70	+0.052%	$933K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.79	+0.104%	$1.4M	$5.0M	20x	as long as short
QFEX MRNA-USDshort	0.0000%	1h	172.62	+0.006%	$1.1M	$2.7M	10x
Gate MRNA_USDTlong	0.0000%	8h	172.61	long leg	$879K	$1.1M	20x
Bitget MRNAUSDT	0.0000%	8h	172.60	−0.006%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.81	+0.118%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.76	+0.086%	$624	$165K	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	172.63	+0.012%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.73	+0.070%	$1.6M	$645K	20x	as long as short
Lighter MRNA	+0.0032%	1h	172.72	+0.064%	$124K	$1.0M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.105%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.57	−0.023%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.53	−0.046%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.54	−0.041%	$2.6M	$4.2M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.63	+0.012%	$43K	$39K	5x	as long as short
SoDEX MRNA-USD	+0.0142%	1h	172.66	+0.029%	$40K	$66K	10x	as long as short
Phoenix MRNA	+0.0232%	1h	172.74	+0.075%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0695%	4h	172.80	+0.112%	$3K	$243K	10x	as long as short