Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0324%/8h= −35.5% APRpaid last 24h −0.084%

Price spread now: Aster against Phoenix−0.053%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.541%−$54 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Aster is 0.053% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MRNA	172.78	0.0324	pay 0.0040% / 1h	47m 30s	$5K	$192K	10x
Short	Aster MRNAUSDT	172.69	0	get 0.0000% / 8h	1h 47m	$29K	$81K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$68.01
Price spread: −0.053% → 0.000%: −$5.32
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$88.34
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 29 min ago; Aster: 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 Phoenix live order book, 29 min ago	2.89 bp	17.4 bp −$17	68.5 bp −$685	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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	−0.0149%	4h	172.80	+0.013%	$3K	$243K	10x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.61	−0.098%	$1.1M	$2.6M	10x	as long as short
Aster MRNAUSDTshort	0.0000%	8h	172.69	−0.053%	$29K	$81K	20x
Binance MRNAUSDT	0.0000%	8h	172.86	+0.046%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.73	−0.029%	$935K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.69	−0.052%	$1.4M	$4.9M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.71	−0.041%	$881K	$1.1M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.67	−0.064%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.79	+0.006%	$49K	$98K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.84	+0.035%	$785	$169K	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	172.72	−0.035%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.79	+0.006%	$1.6M	$637K	20x	as long as short
BloFin MRNA-USDT	+0.0015%	8h	172.87	+0.052%	$44K	$29K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.195%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.62	−0.093%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.58	−0.116%	$43K	$39K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0070%	1h	172.65	−0.075%	$2.6M	$4.2M	10x	as long as short
Extended MRNA-USD	+0.0072%	1h	172.64	−0.083%	$32K	$32K	10x	as long as short
Lighter MRNA	+0.0184%	1h	172.82	+0.023%	$124K	$1.0M	10x	as long as short
SoDEX MRNA-USD	+0.0218%	1h	172.71	−0.041%	$40K	$75K	10x	as long as short
Phoenix MRNAlong	+0.0324%	1h	172.78	long leg	$5K	$192K	10x