Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.085%

Price spread now: Variational Omni against Lighter+0.062%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

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 airdropLighter: Season 3 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.062% dearer against Lighter than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MRNA	173.57	0.0328	pay 0.0041% / 1h	7m 38s	$157K	$1.1M	10x
Short	Variational Omni MRNA	173.68	0	get 0.0000% / 8h	3h 07m	$56K	$96K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.062%Rate

Funding earned: −$68.88
Price spread: +0.062% → 0.000%: $6.21
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$62.67
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 3 min ago; Variational Omni: no order-book sample. 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 Lighter live order book, 3 min ago	2.88 bp	3.5 bp −$4	26.0 bp −$260	177.7 bp −$17.8K	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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 MRNAUSDC	−0.0877%	4h	173.40	−0.096%	$3K	$247K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.27	−0.174%	$28K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.28	−0.167%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.32	−0.144%	$942K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.18	−0.225%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.26	−0.179%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.22	−0.202%	$865K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.24	−0.190%	$2.7M	$10.5M	20x	as long as short
Variational Omni MRNAshort	0.0000%	8h	173.68	+0.062%	$56K	$96K	—
GRVT MRNA_USDT_Perp	0.0000%	8h	173.49	−0.045%	$269	$149K	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	173.38	−0.109%	$13K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.38	−0.109%	$1.6M	$646K	20x	as long as short
BloFin MRNA-USDT	+0.0016%	8h	173.38	−0.109%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.613%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.35	−0.127%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	173.20	−0.211%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	173.19	−0.219%	$2.7M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.50	−0.040%	$43K	$35K	5x	as long as short
SoDEX MRNA-USD	+0.0138%	1h	173.32	−0.144%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0277%	1h	173.45	−0.069%	$5K	$191K	10x	as long as short
Lighter MRNAlong	+0.0328%	1h	173.57	long leg	$157K	$1.1M	10x