Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.026%

Price spread now: Gate against tradeXYZ−0.035%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$750.746% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.035%, 7d avg +0.004%

Together, before fees−0.050%+ Points / potential airdroptradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.039% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MRNA	172.27	0.0050	pay 0.0006% / 1h	58m 56s	$2.6M	$4.4M	10x
Short	Gate MRNA_USDT	172.21	0	get 0.0000% / 8h	6h 58m	$862K	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against tradeXYZ. 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 tradeXYZbpFee GatebpOrdersPrice spread, now −0.035%Rate

Funding earned: −$10.5
Price spread: −0.035% → +0.004%: −$3.93
Slippage, 4 orders: −$41.64
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$89.07
Costs to cover: 0.746%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 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 tradeXYZ live order book, 9 min ago	0.87 bp	15.7 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	10.76 bp	18.5 bp −$19	1222.2 bp −$12.2K	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
Aster MRNAUSDT	0.0000%	8h	172.08	−0.109%	$29K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.31	+0.023%	$935K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.32	+0.029%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.26	−0.006%	$1.2M	$2.7M	10x	as long as short
Gate MRNA_USDTshort	0.0000%	8h	172.21	−0.035%	$862K	$1.0M	20x
Bitget MRNAUSDT	0.0000%	8h	172.22	−0.029%	$2.6M	$10.6M	20x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.28	+0.006%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.29	+0.012%	$1.6M	$648K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.924%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.05	−0.128%	$2K	$65K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MRNA-USD	+0.0048%	1h	172.27	+0.002%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNAlong	+0.0050%	1h	172.27	long leg	$2.6M	$4.4M	10x
SoDEX MRNA-USD	+0.0050%	1h	172.22	−0.029%	$40K	$66K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.40	+0.075%	$43K	$39K	5x	as long as short
Lighter MRNA	+0.0088%	1h	172.24	−0.017%	$109K	$1.1M	10x	as long as short
Variational Omni MRNA	+0.0121%	8h	171.99	−0.162%	$49K	$89K	—	as long as short
BloFin MRNA-USDT	+0.0145%	8h	172.39	+0.070%	$45K	$29K	20x	as long as short
Binance MRNAUSDT	+0.0153%	8h	172.39	+0.070%	$2.1M	$11.5M	20x	as long as short
Phoenix MRNA	+0.0231%	1h	171.98	−0.168%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0361%	4h	172.10	−0.099%	$3K	$246K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0408%	8h	172.07	−0.116%	$191	$154K	10x	as long as short