Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX+0.082%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1691.691% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.082%, 7d avg +0.011%

Together, before fees−0.111%−$11 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 0.071% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MRNA-USDT-SWAP	170.45	0	get 0.0000% / 8h	4h 44m	$1.2M	$5.5M	20x
Short	Bybit MRNAUSDT	170.59	0	get 0.0000% / 8h	4h 44m	$923K	$623K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.011%: $7.15
Slippage, 4 orders: −$148.11
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$161.97
Costs to cover: 1.691%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Bybit: live order book, 59 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 OKX live order book, 1 min ago	5.57 bp	26.0 bp −$26	203.9 bp −$2,039	doesn't fit	doesn't fit
Sell Bybit live order book, 59 min ago	6.13 bp	91.6 bp −$92	834.2 bp −$8,342	doesn't fit	doesn't fit

MRNA on 21 exchanges

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	−0.0284%	4h	170.40	−0.029%	$3K	$257K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	170.70	+0.148%	$25K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	170.65	+0.115%	$2.1M	$12.0M	20x	as long as short
Bybit MRNAUSDTshort	0.0000%	8h	170.59	+0.082%	$923K	$623K	25x
OKX MRNA-USDT-SWAPlong	0.0000%	8h	170.45	long leg	$1.2M	$5.5M	20x
QFEX MRNA-USD	0.0000%	1h	170.42	−0.018%	$1.1M	$2.3M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	170.55	+0.059%	$879K	$995K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	170.53	+0.047%	$2.6M	$10.9M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	170.49	+0.024%	$93K	$125K	—	as long as short
HTX MRNA-USDT	0.0000%	8h	170.54	+0.055%	$13K	$434K	20x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	170.59	+0.082%	$1.5M	$691K	20x	as long as short
BloFin MRNA-USDT	+0.0016%	8h	170.64	+0.111%	$46K	$30K	20x	as long as short
Lighter MRNA	+0.0032%	1h	170.50	+0.029%	$219K	$1.6M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−6.940%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	170.55	+0.059%	$2K	$64K	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	170.60	+0.088%	$39K	$56K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	170.41	−0.023%	$42K	$39K	5x	as long as short
Extended MRNA-USD	+0.0088%	1h	170.59	+0.080%	$31K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0101%	1h	170.60	+0.088%	$2.6M	$4.8M	10x	as long as short
Phoenix MRNA	+0.0326%	1h	170.60	+0.088%	$5K	$208K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0467%	8h	170.48	+0.019%	$283	$129K	10x	as long as short