Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0083%/8h= +9.0% APRpaid last 24h +0.026%

Price spread now: BloFin against QFEX+0.058%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.058% dearer against QFEX than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MRNA-USD	173.69	0	get 0.0000% / 1h	46m 22s	$1.1M	$2.7M	10x
Short	BloFin MRNA-USDT	173.79	0.0083	get 0.0083% / 8h	5h 46m	—	$29K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against QFEX. 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 QFEXbpFee BloFinbpOrdersPrice spread, now +0.058%Rate

Funding earned: $17.34
Price spread: +0.058% → 0.000%: $5.76
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $1.1
Costs to cover: 0.220%
Break-even: 6.6 days

Slippage unknown: QFEX: live order book, 6 min ago; BloFin: 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 QFEX live order book, 6 min ago	2.59 bp	7.6 bp −$8	16.9 bp −$169	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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	173.64	−0.030%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.86	+0.098%	$944K	$662K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.86	+0.098%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USDlong	0.0000%	1h	173.69	long leg	$1.1M	$2.7M	10x
Gate MRNA_USDT	0.0000%	8h	173.63	−0.035%	$865K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.70	+0.006%	$2.7M	$10.5M	20x	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.75	+0.035%	$306	$149K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.74	+0.026%	$12K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.77	+0.046%	$1.6M	$641K	20x	as long as short
Variational Omni MRNA	+0.0029%	8h	173.70	+0.006%	$49K	$89K	—	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.676%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.62	−0.040%	$2K	$64K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.74	+0.029%	$43K	$35K	5x	as long as short
Binance MRNAUSDT	+0.0072%	8h	173.81	+0.069%	$2.1M	$11.2M	20x	as long as short
BloFin MRNA-USDTshort	+0.0083%	8h	173.79	+0.058%	—	$29K	20x
tradeXYZ xyz:MRNA	+0.0092%	1h	173.69	0.000%	$2.6M	$4.4M	10x	as long as short
Extended MRNA-USD	+0.0104%	1h	173.65	−0.024%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.79	+0.058%	$5K	$189K	10x	as long as short
edgeX MRNAUSDC	+0.0262%	4h	173.71	+0.014%	$3K	$245K	10x	as long as short
SoDEX MRNA-USD	+0.0646%	1h	173.75	+0.035%	$40K	$56K	10x	as long as short
Lighter MRNA	+0.1864%	1h	173.78	+0.052%	$104K	$1.1M	10x	as long as short