Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: Gate against QFEX−0.069%7-day average +0.217% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.069%, 7d avg +0.217%

Together, before fees+0.235%+$24 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: Gate is 0.286% cheaper against QFEX than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of +0.217%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MRNA-USD	172.74	0	get 0.0000% / 1h	39m 00s	$1.1M	$2.7M	10x
Short	Gate MRNA_USDT	172.62	0	get 0.0000% / 8h	39m 00s	$879K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → +0.217%: −$28.61
Slippage, 4 orders: −$46.75
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$100.36
Costs to cover: 0.718%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	2.32 bp	16.5 bp −$17	21.1 bp −$211	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	12.74 bp	20.5 bp −$21	130.0 bp −$1,300	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
BloFin MRNA-USDT	−0.0018%	8h	172.88	+0.081%	$44K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	172.56	−0.105%	$29K	$81K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	172.74	0.000%	$2.2M	$11.4M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.70	−0.023%	$933K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.65	−0.052%	$1.4M	$5.0M	20x	as long as short
QFEX MRNA-USDlong	0.0000%	1h	172.74	long leg	$1.1M	$2.7M	10x
Gate MRNA_USDTshort	0.0000%	8h	172.62	−0.069%	$879K	$1.1M	20x
Bitget MRNAUSDT	0.0000%	8h	172.65	−0.052%	$2.6M	$10.4M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	172.81	+0.042%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	172.76	+0.010%	$624	$165K	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	172.82	+0.047%	$12K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.74	0.000%	$1.6M	$645K	20x	as long as short
Lighter MRNA	+0.0032%	1h	172.68	−0.035%	$124K	$1.0M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.174%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.61	−0.075%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	172.55	−0.110%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	172.60	−0.081%	$2.6M	$4.2M	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.57	−0.098%	$43K	$39K	5x	as long as short
SoDEX MRNA-USD	+0.0165%	1h	172.66	−0.046%	$40K	$66K	10x	as long as short
Phoenix MRNA	+0.0232%	1h	172.74	0.000%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0695%	4h	172.80	+0.036%	$3K	$243K	10x	as long as short