Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex−0.192%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$291as in the Price arb table

costs, in and out, $10k−$2712.709% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.192%, 7d avg +0.008%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.200% cheaper against Phemex than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MRNAUSDT	173.93	0	get 0.0000% / 8h	5h 25m	$1.6M	$641K	20x
Short	HTX MRNA-USDT	173.60	0	get 0.0000% / 8h	5h 25m	$14K	$434K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.192%Rate

Funding earned: $0
Price spread: −0.192% → +0.008%: −$19.97
Slippage, 4 orders: −$246.88
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$290.85
Costs to cover: 2.709%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; HTX: live order book, 38 min ago.

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, 2 min ago	3.16 bp	42.4 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 38 min ago	27.52 bp	49.9 bp −$50	doesn't fit	doesn't fit	doesn't fit

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	−0.0039%	4h	173.86	−0.039%	$3K	$244K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.75	−0.105%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.81	−0.069%	$944K	$662K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.77	−0.092%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.74	−0.109%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.85	−0.046%	$869K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.71	−0.126%	$2.7M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.83	−0.055%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.92	−0.006%	$296	$148K	10x	as long as short
HTX MRNA-USDTshort	0.0000%	8h	173.60	−0.192%	$14K	$434K	20x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDTlong	0.0000%	8h	173.93	long leg	$1.6M	$641K	20x
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.802%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.75	−0.103%	$2K	$64K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.77	−0.092%	$43K	$35K	5x	as long as short
Binance MRNAUSDT	+0.0060%	8h	173.88	−0.026%	$2.2M	$11.2M	20x	as long as short
BloFin MRNA-USDT	+0.0064%	8h	173.83	−0.057%	$45K	$29K	20x	as long as short
Extended MRNA-USD	+0.0088%	1h	173.72	−0.123%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0092%	1h	173.73	−0.115%	$2.6M	$4.4M	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.92	−0.006%	$5K	$189K	10x	as long as short
SoDEX MRNA-USD	+0.0369%	1h	173.85	−0.046%	$40K	$56K	10x	as long as short
Lighter MRNA	+0.1624%	1h	173.88	−0.029%	$104K	$1.1M	10x	as long as short