Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h +0.022%

Price spread now: edgeX against Ondo Perps+0.041%54s7-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 edgeX

What this pair did over the last

the charts below follow

Funding, last 6 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 · edgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.041% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.041% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MRNA-USD.P	174.37	0.0050	pay 0.0006% / 1h	39m 44s	$43K	$35K	5x
Short	edgeX MRNAUSDC	174.44	−0.0045	pay 0.0023% / 4h	3h 39m	$3K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$20.11
Price spread: +0.041% → 0.000%: $4.06
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$30.05
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; edgeX: live order book, 13 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 edgeX live order book, 13 min ago	5.18 bp	17.0 bp −$17	doesn't fit	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
edgeX MRNAUSDCshort	−0.0045%	4h	174.44	+0.041%	$3K	$246K	10x
Aster MRNAUSDT	0.0000%	8h	174.22	−0.087%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	174.47	+0.057%	$951K	$616K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	174.45	+0.046%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	174.24	−0.075%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	174.35	−0.011%	$871K	$997K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	174.24	−0.075%	$2.8M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	174.48	+0.066%	$55K	$94K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	174.38	+0.006%	$17	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	174.47	+0.056%	$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	174.41	+0.023%	$1.6M	$644K	20x	as long as short
BloFin MRNA-USDT	+0.0002%	8h	174.46	+0.052%	$45K	$29K	20x	as long as short
Binance MRNAUSDT	+0.0013%	8h	174.39	+0.009%	$2.2M	$11.3M	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−9.033%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	174.22	−0.086%	$2K	$64K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	174.22	−0.087%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	174.24	−0.075%	$2.7M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.Plong	+0.0050%	1h	174.37	long leg	$43K	$35K	5x
Phoenix MRNA	+0.0277%	1h	174.42	+0.029%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0473%	1h	174.33	−0.023%	$40K	$56K	10x	as long as short
Lighter MRNA	+0.0744%	1h	174.48	+0.063%	$158K	$1.1M	10x	as long as short