Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.030%

Price spread now: Extended against Phemex−0.131%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Extended

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 airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.131% cheaper against Phemex than usual: you would sell low and buy high (spread −0.131% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MRNAUSDT	173.37	0	get 0.0000% / 8h	47m 26s	$1.6M	$641K	20x
Short	Extended MRNA-USD	173.14	0.0096	get 0.0012% / 1h	47m 26s	$32K	$32K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phemex. 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 PhemexbpFee ExtendedbpOrdersPrice spread, now −0.131%Rate

Funding earned: $20.16
Price spread: −0.131% → 0.000%: −$13.11
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$9.95
Costs to cover: 0.170%
Break-even: 10.5 days

Slippage unknown: Phemex: live order book, 1 min ago; Extended: 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 Phemex live order book, 1 min ago	4.62 bp	41.9 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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	173.19	−0.102%	$27K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.31	−0.035%	$2.1M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.27	−0.058%	$941K	$606K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.20	−0.098%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.27	−0.058%	$865K	$966K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.31	−0.035%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.19	−0.103%	$57K	$95K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.26	−0.062%	$438	$144K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.28	−0.051%	$13K	$430K	20x	as long as short
Phemex MRNAUSDTlong	0.0000%	8h	173.37	long leg	$1.6M	$641K	20x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MRNA-USD	+0.0001%	1h	173.09	−0.162%	$1.1M	$2.5M	10x	as long as short
BloFin MRNA-USDT	+0.0010%	8h	173.16	−0.121%	$45K	$29K	20x	as long as short
Lighter MRNA	+0.0032%	1h	173.50	+0.075%	$156K	$1.2M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.508%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.00	−0.213%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.95	−0.242%	$43K	$35K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0096%	1h	173.16	−0.121%	$2.6M	$4.4M	10x	as long as short
Extended MRNA-USDshort	+0.0096%	1h	173.14	−0.131%	$32K	$32K	10x
SoDEX MRNA-USD	+0.0142%	1h	173.28	−0.052%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0230%	1h	173.25	−0.069%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0402%	4h	173.20	−0.100%	$3K	$250K	10x	as long as short