Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0204%/8h= +22.4% APRpaid last 24h +0.083%

Price spread now: SoDEX against OKX−0.035%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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. SoDEX is 0.035% cheaper against OKX than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MRNA-USDT-SWAP	172.72	0	get 0.0000% / 8h	2h 10m	$1.3M	$5.4M	20x
Short	SoDEX MRNA-USD	172.66	0.0204	get 0.0026% / 1h	10m 09s	$40K	$56K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $42.92
Price spread: −0.035% → 0.000%: −$3.47
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $21.45
Costs to cover: 0.180%
Break-even: 3.5 days

Slippage unknown: OKX: live order book, 3 min ago; SoDEX: 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, 3 min ago	4.93 bp	13.6 bp −$14	109.9 bp −$1,099	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Lighter MRNA	−0.1104%	1h	172.73	+0.006%	$156K	$1.2M	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.83	+0.062%	$26K	$83K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.84	+0.069%	$2.1M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.69	−0.017%	$938K	$621K	25x	as long as short
OKX MRNA-USDT-SWAPlong	0.0000%	8h	172.72	long leg	$1.3M	$5.4M	20x
Gate MRNA_USDT	0.0000%	8h	172.66	−0.035%	$862K	$999K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.63	−0.052%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.60	−0.067%	$56K	$96K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.24	−0.279%	$2	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.65	−0.042%	$14K	$431K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	172.86	+0.081%	$1.6M	$654K	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.38	−0.197%	$1.1M	$2.5M	10x	as long as short
BloFin MRNA-USDT	+0.0013%	8h	172.42	−0.174%	$45K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.164%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.33	−0.226%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.52	−0.116%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.66	−0.035%	$2.6M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.33	−0.226%	$43K	$35K	5x	as long as short
Phoenix MRNA	+0.0185%	1h	172.18	−0.313%	$5K	$191K	10x	as long as short
SoDEX MRNA-USDshort	+0.0204%	1h	172.66	−0.035%	$40K	$56K	10x
edgeX MRNAUSDC	+0.0591%	4h	172.44	−0.164%	$3K	$247K	10x	as long as short