Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: OKX against Ondo Perps−0.006%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on OKX

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MRNA-USD.P	173.52	0.0050	pay 0.0006% / 1h	8m 19s	$43K	$35K	5x
Short	OKX MRNA-USDT-SWAP	173.51	0	get 0.0000% / 8h	4h 08m	$1.3M	$5.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$10.58
Price spread: −0.006% → 0.000%: −$0.58
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$26.16
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; OKX: 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 OKX live order book, 4 min ago	2.02 bp	9.4 bp −$9	65.2 bp −$652	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 MRNAUSDC	−0.0301%	4h	173.56	+0.023%	$3K	$246K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.59	+0.041%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.71	+0.109%	$946K	$615K	25x	as long as short
OKX MRNA-USDT-SWAPshort	0.0000%	8h	173.51	−0.006%	$1.3M	$5.2M	20x
QFEX MRNA-USD	0.0000%	1h	173.48	−0.023%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.58	+0.035%	$868K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.66	+0.081%	$2.8M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.56	+0.025%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.59	+0.041%	$222	$146K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.47	−0.030%	$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	173.64	+0.069%	$1.6M	$640K	20x	as long as short
Binance MRNAUSDT	+0.0026%	8h	173.62	+0.058%	$2.2M	$11.2M	20x	as long as short
BloFin MRNA-USDT	+0.0031%	8h	173.66	+0.081%	$45K	$29K	20x	as long as short
Lighter MRNA	+0.0032%	1h	173.65	+0.075%	$157K	$1.1M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.587%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.46	−0.035%	$2K	$63K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	173.49	−0.017%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	173.51	−0.006%	$2.7M	$4.4M	10x	as long as short
Ondo Perps MRNA-USD.Plong	+0.0050%	1h	173.52	long leg	$43K	$35K	5x
Phoenix MRNA	+0.0230%	1h	173.73	+0.121%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0327%	1h	173.57	+0.029%	$40K	$56K	10x	as long as short