Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.060%

Price spread now: Variational Omni against SoDEX+0.024%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.024% dearer against SoDEX than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MRNA-USD	173.28	0.0239	pay 0.0030% / 1h	34m 12s	$40K	$55K	10x
Short	Variational Omni MRNA	173.32	0	get 0.0000% / 8h	34m 12s	$57K	$94K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.024%Rate

Funding earned: −$50.27
Price spread: +0.024% → 0.000%: $2.38
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$55.9
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Variational Omni: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

SoDEX and Variational Omni: 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
BloFin MRNA-USDT	−0.0015%	8h	173.23	−0.029%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.22	−0.032%	$27K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.28	0.000%	$2.1M	$11.2M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.22	−0.035%	$941K	$603K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.35	+0.040%	$1.3M	$5.4M	20x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.32	+0.023%	$885K	$983K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.29	+0.006%	$2.6M	$10.5M	20x	as long as short
Variational Omni MRNAshort	0.0000%	8h	173.32	+0.024%	$57K	$94K	—
GRVT MRNA_USDT_Perp	0.0000%	8h	173.20	−0.045%	$404	$142K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.36	+0.046%	$13K	$431K	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	173.27	−0.006%	$1.6M	$639K	20x	as long as short
QFEX MRNA-USD	+0.0001%	1h	173.16	−0.069%	$1.1M	$2.5M	10x	as long as short
Lighter MRNA	+0.0032%	1h	173.50	+0.127%	$156K	$1.2M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.460%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.99	−0.167%	$2K	$65K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.18	−0.058%	$43K	$35K	5x	as long as short
tradeXYZ xyz:MRNA	+0.0069%	1h	173.22	−0.035%	$2.6M	$4.3M	10x	as long as short
Extended MRNA-USD	+0.0072%	1h	173.18	−0.060%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0230%	1h	173.36	+0.046%	$5K	$191K	10x	as long as short
SoDEX MRNA-USDlong	+0.0239%	1h	173.28	long leg	$40K	$55K	10x
edgeX MRNAUSDC	+0.0899%	4h	173.25	−0.018%	$3K	$250K	10x	as long as short