Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0248%/8h= +27.2% APRpaid last 24h −0.064%

Price spread now: Bitget against Lighter−0.127%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.127%, 7d avg −0.027%

Together, before fees−0.207%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.100% cheaper against Lighter than usual: you would sell low and buy high (spread −0.127% now, against its 7-day average of −0.027%). If the spread goes back, that is −$10 on $10k: about 32 hours of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.253%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MRNA	172.67	−0.0248	get 0.0031% / 1h	44m 16s	$156K	$1.2M	10x
Short	Bitget MRNAUSDT	172.45	0	get 0.0000% / 8h	1h 44m	$2.6M	$10.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter. 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 LighterbpFee BitgetbpOrdersPrice spread, now −0.127%Rate

Funding earned: $52.08
Price spread: −0.127% → −0.027%: −$10
Slippage, 4 orders: −$25.37
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: $4.71
Costs to cover: 0.374%
Break-even: 6.4 days

Slippage from Lighter: live order book, 2 min ago; Bitget: 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 Lighter live order book, 2 min ago	2.03 bp	3.7 bp −$4	24.6 bp −$246	156.9 bp −$15.7K	doesn't fit
Sell Bitget live order book, 4 min ago	4.35 bp	15.3 bp −$15	46.3 bp −$463	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 MRNAlong	−0.0248%	1h	172.67	long leg	$156K	$1.2M	10x
BloFin MRNA-USDT	−0.0009%	8h	172.49	−0.104%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.53	−0.083%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.44	−0.134%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.45	−0.127%	$937K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.38	−0.168%	$1.3M	$5.4M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.31	−0.208%	$1.1M	$2.5M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.41	−0.151%	$861K	$994K	20x	as long as short
Bitget MRNAUSDTshort	0.0000%	8h	172.45	−0.127%	$2.6M	$10.6M	20x
Variational Omni MRNA	0.0000%	8h	172.48	−0.107%	$56K	$94K	—	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	172.55	−0.069%	$550	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.57	−0.056%	$13K	$431K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.49	−0.104%	$1.6M	$655K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.137%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.33	−0.197%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.35	−0.186%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.35	−0.185%	$2.5M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.23	−0.255%	$43K	$35K	5x	as long as short
SoDEX MRNA-USD	+0.0114%	1h	172.49	−0.104%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0232%	1h	172.24	−0.249%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0619%	4h	172.52	−0.087%	$3K	$249K	10x	as long as short