Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against OKX−7.386%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Injective

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—needs both histories

Funding pays, the price is against you. Injective is 7.386% cheaper against OKX than usual: you would sell low and buy high (spread −7.386% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$739 on $10k: about years of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MRNA-USDT-SWAP	171.27	0	get 0.0000% / 8h	5h 45m	$1.2M	$5.5M	20x
Short	Injective MRNA/USDC PERP	158.62	0.0033	get 0.0004% / 1h	45m 13s	$18K	$8K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −7.386%Rate

Funding earned: $7
Price spread: −7.386% → 0.000%: −$738.6
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$741.62
Costs to cover: 0.100%
Break-even: 748.6 days

Slippage unknown: OKX: live order book, 6 min ago; Injective: 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 OKX live order book, 6 min ago	4.95 bp	23.8 bp −$24	135.6 bp −$1,356	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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	−0.0545%	4h	171.23	−0.021%	$3K	$257K	10x	as long as short
BloFin MRNA-USDT	−0.0015%	8h	171.19	−0.047%	$45K	$30K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	171.06	−0.123%	$26K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	171.18	−0.055%	$2.1M	$11.9M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	171.24	−0.018%	$925K	$621K	25x	as long as short
OKX MRNA-USDT-SWAPlong	0.0000%	8h	171.27	long leg	$1.2M	$5.5M	20x
QFEX MRNA-USD	0.0000%	1h	170.90	−0.216%	$1.1M	$2.3M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	171.10	−0.099%	$885K	$998K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	171.04	−0.134%	$2.6M	$11.1M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	171.15	−0.072%	$59K	$91K	—	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MRNA-USDT	0.0000%	8h	170.92	−0.202%	$13K	$434K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	171.25	−0.012%	$1.5M	$683K	20x	as long as short
Injective MRNA/USDC PERPshort	+0.0033%	1h	158.62	−7.386%	$18K	$8K	12x
Arcus MRNA-USD	+0.0040%	1h	170.83	−0.257%	$2K	$65K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0099%	1h	171.07	−0.117%	$2.7M	$4.7M	10x	as long as short
Extended MRNA-USD	+0.0112%	1h	171.07	−0.119%	$31K	$32K	10x	as long as short
SoDEX MRNA-USD	+0.0113%	1h	171.12	−0.088%	$40K	$55K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0117%	1h	170.82	−0.263%	$42K	$39K	5x	as long as short
Lighter MRNA	+0.0208%	1h	171.21	−0.035%	$243K	$1.5M	10x	as long as short
Phoenix MRNA	+0.0278%	1h	171.63	+0.210%	$5K	$205K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0462%	8h	171.31	+0.023%	$815	$128K	10x	as long as short