Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0071%/8h= +7.8% APRpaid last 24h −0.026%

Price spread now: Variational Omni against tradeXYZ−0.144%7-day average — · you buy dearer than you sell

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

Long on tradeXYZ 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 airdroptradeXYZ: Active · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.144% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.144% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 6.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MRNA	172.24	0.0050	pay 0.0006% / 1h	59m 15s	$2.6M	$4.4M	10x
Short	Variational Omni MRNA	171.99	0.0121	get 0.0121% / 8h	6h 59m	$49K	$89K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.144%Rate

Funding earned: $14.91
Price spread: −0.144% → 0.000%: −$14.42
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$17.51
Costs to cover: 0.180%
Break-even: 15.2 days

Slippage unknown: tradeXYZ: live order book, 9 min ago; 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 tradeXYZ live order book, 9 min ago	0.87 bp	15.7 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

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
Aster MRNAUSDT	0.0000%	8h	172.11	−0.075%	$29K	$81K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	172.28	+0.023%	$935K	$1.0M	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	172.32	+0.046%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	172.26	+0.012%	$1.2M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	172.21	−0.017%	$862K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	172.22	−0.012%	$2.6M	$10.6M	20x	as long as short
HTX MRNA-USDT	0.0000%	8h	172.28	+0.024%	$12K	$429K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	172.29	+0.029%	$1.6M	$648K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.908%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	172.05	−0.110%	$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	172.22	−0.009%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNAlong	+0.0050%	1h	172.24	long leg	$2.6M	$4.4M	10x
SoDEX MRNA-USD	+0.0050%	1h	172.22	−0.012%	$40K	$66K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	172.40	+0.093%	$43K	$39K	5x	as long as short
Lighter MRNA	+0.0088%	1h	172.24	0.000%	$109K	$1.1M	10x	as long as short
Variational Omni MRNAshort	+0.0121%	8h	171.99	−0.144%	$49K	$89K	—
BloFin MRNA-USDT	+0.0140%	8h	172.26	+0.012%	$45K	$29K	20x	as long as short
Binance MRNAUSDT	+0.0153%	8h	172.29	+0.027%	$2.1M	$11.5M	20x	as long as short
Phoenix MRNA	+0.0231%	1h	171.98	−0.151%	$5K	$191K	10x	as long as short
edgeX MRNAUSDC	+0.0361%	4h	172.10	−0.082%	$3K	$246K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0408%	8h	172.07	−0.098%	$191	$154K	10x	as long as short