Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0902%/8h= −98.8% APRpaid last 24h +0.027%

Price spread now: edgeX against Injective+8.554%7-day average — · you sell dearer than you buy

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

Long on Injective Short on edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 8.554% dearer against Injective than usual: you sell high and buy low (spread +8.554% now, against zero (this spread has no 7-day history yet)): +$855 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 32 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MRNA/USDC PERP	158.62	0.0033	pay 0.0004% / 1h	51m 26s	$18K	$8K	12x
Short	edgeX MRNAUSDC	172.19	−0.0869	pay 0.0435% / 4h	1h 51m	$3K	$248K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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 InjectivebpFee edgeXbpOrdersPrice spread, now +8.554%Rate

Funding earned: −$189.52
Price spread: +8.554% → 0.000%: $855.41
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $656.87
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; edgeX: live order book, 56 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 Injective no order-book sample	—	—	—	—	—
Sell edgeX live order book, 56 min ago	1.73 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit

Injective: 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
edgeX MRNAUSDCshort	−0.0869%	4h	172.19	+8.554%	$3K	$248K	10x
Lighter MRNA	−0.0504%	1h	172.40	+8.687%	$155K	$1.2M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.19	+8.553%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.24	+8.587%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.22	+8.574%	$935K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.25	+8.593%	$1.3M	$5.4M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.10	+8.498%	$1.1M	$2.5M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.28	+8.612%	$860K	$994K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.21	+8.568%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.24	+8.590%	$56K	$96K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MRNA_USDT_Perp	0.0000%	8h	172.24	+8.587%	$605	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.09	+8.495%	$14K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.23	+8.580%	$1.6M	$654K	20x	as long as short
BloFin MRNA-USDT	+0.0006%	8h	172.14	+8.524%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERPlong	+0.0033%	1h	158.62	long leg	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	172.14	+8.524%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.09	+8.492%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.11	+8.505%	$2.5M	$4.5M	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	172.21	+8.568%	$40K	$56K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	171.97	+8.416%	$43K	$35K	5x	as long as short
Phoenix MRNA	+0.0232%	1h	172.23	+8.580%	$5K	$191K	10x	as long as short