Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.042%

Price spread now: HTX against tradeXYZ+0.142%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$206as in the Price arb table

costs, in and out, $10k−$2142.143% of the position

Long on tradeXYZ Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now +0.142%, 7d avg +0.063%

Together, before fees−0.238%+ Points / potential airdroptradeXYZ: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.079% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.142% now, against its 7-day average of +0.063%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MRNA	173.60	0.0088	pay 0.0011% / 1h	0m 53s	$2.6M	$4.4M	10x
Short	HTX MRNA-USDT	173.85	0	get 0.0000% / 8h	5h 00m	$13K	$433K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.142%Rate

Funding earned: −$18.42
Price spread: +0.142% → +0.063%: $7.89
Slippage, 4 orders: −$184.31
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: −$224.83
Costs to cover: 2.143%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; HTX: live order book, 62 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, 7 min ago	1.15 bp	17.1 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 62 min ago	27.52 bp	49.9 bp −$50	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
Aster MRNAUSDT	0.0000%	8h	173.67	+0.039%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.80	+0.115%	$944K	$658K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.73	+0.075%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.76	+0.092%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.59	−0.006%	$868K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.68	+0.046%	$2.7M	$10.5M	20x	as long as short
Variational Omni MRNA	0.0000%	8h	173.87	+0.156%	$49K	$89K	—	as long as short
GRVT MRNA_USDT_Perp	0.0000%	8h	173.94	+0.196%	$591	$148K	10x	as long as short
HTX MRNA-USDTshort	0.0000%	8h	173.85	+0.142%	$13K	$433K	20x
Phemex MRNAUSDT	0.0000%	8h	173.77	+0.098%	$1.6M	$641K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.629%	$18K	$8K	12x	as long as short
Binance MRNAUSDT	+0.0040%	8h	173.79	+0.109%	$2.2M	$11.3M	20x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.78	+0.104%	$2K	$63K	10x	as long as short
BloFin MRNA-USDT	+0.0043%	8h	174.00	+0.230%	$45K	$29K	20x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.60	0.000%	$43K	$35K	5x	as long as short
tradeXYZ xyz:MRNAlong	+0.0088%	1h	173.60	long leg	$2.6M	$4.4M	10x
Extended MRNA-USD	+0.0088%	1h	173.58	−0.010%	$32K	$32K	10x	as long as short
Phoenix MRNA	+0.0185%	1h	173.87	+0.156%	$5K	$189K	10x	as long as short
SoDEX MRNA-USD	+0.0297%	1h	173.85	+0.144%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0597%	4h	173.96	+0.209%	$3K	$245K	10x	as long as short
Lighter MRNA	+0.1208%	1h	173.91	+0.179%	$104K	$1.1M	10x	as long as short