Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h +0.011%

Price spread now: BloFin against Ondo Perps+0.134%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 BloFin

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. BloFin is 0.134% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.134% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MRNA-USD.P	172.28	0.0050	pay 0.0006% / 1h	5m 58s	$43K	$35K	5x
Short	BloFin MRNA-USDT	172.51	−0.0021	pay 0.0021% / 8h	5m 58s	$45K	$29K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$14.98
Price spread: +0.134% → 0.000%: $13.35
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$18.63
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; BloFin: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell BloFin no order-book sample	—	—	—	—	—

Ondo Perps and BloFin: 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	−0.0144%	1h	172.67	+0.226%	$155K	$1.2M	10x	as long as short
BloFin MRNA-USDTshort	−0.0021%	8h	172.51	+0.134%	$45K	$29K	20x
Aster MRNAUSDT	0.0000%	8h	172.40	+0.068%	$26K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.40	+0.070%	$2.1M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.47	+0.110%	$937K	$600K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.22	−0.035%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.50	+0.128%	$880K	$984K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.33	+0.029%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.54	+0.153%	$57K	$92K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.61	+0.192%	$91	$142K	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	172.38	+0.060%	$14K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.44	+0.093%	$1.6M	$636K	20x	as long as short
QFEX MRNA-USD	+0.0001%	1h	172.37	+0.052%	$1.1M	$2.5M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.929%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.42	+0.081%	$2K	$65K	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	172.39	+0.064%	$40K	$55K	10x	as long as short
Ondo Perps MRNA-USD.Plong	+0.0050%	1h	172.28	long leg	$43K	$35K	5x
Extended MRNA-USD	+0.0056%	1h	172.34	+0.036%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0056%	1h	172.33	+0.029%	$2.5M	$4.3M	10x	as long as short
Phoenix MRNA	+0.0230%	1h	172.54	+0.151%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0374%	4h	172.54	+0.153%	$3K	$250K	10x	as long as short