Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.004%

Price spread now: Bitget against Ondo Perps+0.064%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bitget is 0.064% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.064% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MRNA-USD.P	172.57	0.0050	pay 0.0006% / 1h	39m 30s	$43K	$39K	5x
Short	Bitget MRNAUSDT	172.68	0	get 0.0000% / 8h	39m 30s	$2.6M	$10.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. 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 Ondo PerpsbpFee BitgetbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$10.58
Price spread: +0.064% → 0.000%: $6.37
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$21.21
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	2.61 bp	9.7 bp −$10	15.3 bp −$153	doesn't fit	doesn't fit

Ondo Perps: 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
Aster MRNAUSDT	0.0000%	8h	172.62	+0.031%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.83	+0.151%	$2.2M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.70	+0.075%	$933K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.86	+0.168%	$1.4M	$5.0M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.74	+0.099%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.68	+0.064%	$880K	$1.1M	20x	as long as short
Bitget MRNAUSDTshort	0.0000%	8h	172.68	+0.064%	$2.6M	$10.4M	20x
Variational Omni MRNA	0.0000%	8h	172.81	+0.141%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.76	+0.109%	$624	$165K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.85	+0.165%	$12K	$430K	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	172.88	+0.180%	$1.6M	$645K	20x	as long as short
BloFin MRNA-USDT	+0.0002%	8h	172.83	+0.151%	$44K	$29K	20x	as long as short
Lighter MRNA	+0.0032%	1h	172.77	+0.116%	$124K	$1.0M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.084%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.61	+0.023%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.62	+0.029%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.63	+0.035%	$2.6M	$4.2M	10x	as long as short
Ondo Perps MRNA-USD.Plong	+0.0050%	1h	172.57	long leg	$43K	$39K	5x
SoDEX MRNA-USD	+0.0172%	1h	172.75	+0.104%	$40K	$66K	10x	as long as short
Phoenix MRNA	+0.0232%	1h	172.68	+0.064%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0695%	4h	172.80	+0.135%	$3K	$243K	10x	as long as short