Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0369%/8h= −40.4% APRpaid last 24h −0.096%

Price spread now: OKX against SoDEX−0.012%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MRNA-USD	173.89	0.0369	pay 0.0046% / 1h	24m 18s	$40K	$56K	10x
Short	OKX MRNA-USDT-SWAP	173.87	0	get 0.0000% / 8h	5h 24m	$1.3M	$5.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SoDEX. 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 SoDEXbpFee OKXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$77.4
Price spread: −0.012% → 0.000%: −$1.15
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$96.55
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; OKX: live order book, 3 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.29 bp	22.7 bp −$23	106.7 bp −$1,067	doesn't fit	doesn't fit

SoDEX: 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	−0.0739%	4h	173.86	−0.018%	$3K	$244K	10x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.79	−0.055%	$28K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.86	−0.017%	$944K	$661K	25x	as long as short
OKX MRNA-USDT-SWAPshort	0.0000%	8h	173.87	−0.012%	$1.3M	$5.3M	20x
QFEX MRNA-USD	0.0000%	1h	173.79	−0.058%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.89	0.000%	$869K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.75	−0.081%	$2.7M	$10.6M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.83	−0.032%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.92	+0.017%	$296	$148K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.86	−0.016%	$14K	$434K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MRNAUSDT	0.0000%	8h	173.98	+0.052%	$1.6M	$640K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.781%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.76	−0.075%	$2K	$64K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.79	−0.058%	$43K	$35K	5x	as long as short
BloFin MRNA-USDT	+0.0056%	8h	173.82	−0.040%	$45K	$29K	20x	as long as short
Binance MRNAUSDT	+0.0059%	8h	173.98	+0.052%	$2.1M	$11.2M	20x	as long as short
Extended MRNA-USD	+0.0096%	1h	173.78	−0.066%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0099%	1h	173.89	0.000%	$2.6M	$4.4M	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.96	+0.040%	$5K	$189K	10x	as long as short
SoDEX MRNA-USDlong	+0.0369%	1h	173.89	long leg	$40K	$56K	10x
Lighter MRNA	+0.1592%	1h	173.99	+0.058%	$104K	$1.1M	10x	as long as short