Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0373%/8h= +40.8% APRpaid last 24h +0.037%

Price spread now: edgeX against QFEX+0.100%7-day average +0.223% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$430.425% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.217%−$22 on $10k

Price spread, last 4 days (all we have)+0.450%+$45 · spread now +0.100%, 7d avg +0.223%

Together, before fees+0.233%+ Points / potential airdropedgeX: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.123% cheaper against QFEX than usual: you would sell low and buy high (spread +0.100% now, against its 7-day average of +0.223%). If the spread goes back, that is −$12 on $10k: about 26 hours of funding at the current rate (+$11 a day). Mind the row above: over the last 4 days funding on this pair cost −0.217%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MRNA-USD	172.37	0.0001	pay 0.0000% / 1h	7m 19s	$1.1M	$2.5M	10x
Short	edgeX MRNAUSDC	172.54	0.0374	get 0.0187% / 4h	7m 19s	$3K	$250K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.100%Rate

Funding earned: $78.24
Price spread: +0.100% → +0.223%: −$12.26
Slippage, 4 orders: −$23.54
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $23.44
Costs to cover: 0.425%
Break-even: 4.9 days

Slippage from QFEX: live order book, 5 min ago; edgeX: live order book, 30 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 QFEX live order book, 5 min ago	1.74 bp	11.4 bp −$11	17.8 bp −$178	doesn't fit	doesn't fit
Sell edgeX live order book, 30 min ago	2.88 bp	9.7 bp −$10	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
Lighter MRNA	−0.0112%	1h	172.72	+0.203%	$155K	$1.2M	10x	as long as short
BloFin MRNA-USDT	−0.0021%	8h	172.51	+0.081%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.42	+0.027%	$26K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.44	+0.038%	$2.1M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.52	+0.087%	$937K	$600K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.33	−0.023%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.52	+0.087%	$880K	$984K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.35	−0.012%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.54	+0.101%	$57K	$92K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.61	+0.139%	$91	$142K	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	172.29	−0.047%	$14K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.48	+0.064%	$1.6M	$636K	20x	as long as short
QFEX MRNA-USDlong	+0.0001%	1h	172.37	long leg	$1.1M	$2.5M	10x
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.977%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.47	+0.058%	$2K	$65K	10x	as long as short
SoDEX MRNA-USD	+0.0050%	1h	172.40	+0.017%	$40K	$55K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.28	−0.052%	$43K	$35K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0063%	1h	172.38	+0.006%	$2.5M	$4.3M	10x	as long as short
Extended MRNA-USD	+0.0064%	1h	172.36	−0.005%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0230%	1h	172.54	+0.099%	$5K	$191K	10x	as long as short
edgeX MRNAUSDCshort	+0.0374%	4h	172.54	+0.100%	$3K	$250K	10x