Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Variational Omni−0.041%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.041% cheaper against Variational Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MRNA	171.54	0	get 0.0000% / 8h	5h 05m	$94K	$125K	—
Short	Bybit MRNAUSDT	171.47	0	get 0.0000% / 8h	5h 05m	$926K	$622K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → 0.000%: −$4.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.05
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 16 min ago; Bybit: live order book, 38 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 Variational Omni RFQ quote, 16 min ago	2.77 bp	doesn't fit	87.3 bp −$873	doesn't fit	doesn't fit
Sell Bybit live order book, 38 min ago	6.13 bp	91.6 bp −$92	834.2 bp −$8,342	doesn't fit	doesn't fit

MRNA on 21 exchanges

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	−0.0003%	8h	171.58	+0.024%	$46K	$30K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	171.35	−0.109%	$25K	$81K	20x	as long as short
Bybit MRNAUSDTshort	0.0000%	8h	171.47	−0.041%	$926K	$622K	25x
OKX MRNA-USDT-SWAP	0.0000%	8h	171.59	+0.029%	$1.2M	$5.5M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	171.60	+0.035%	$1.1M	$2.3M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	171.47	−0.041%	$887K	$998K	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	171.51	−0.017%	$2.7M	$11.0M	20x	as long as short
Variational Omni MRNAlong	0.0000%	8h	171.54	long leg	$94K	$125K	—
HTX MRNA-USDT	0.0000%	8h	171.57	+0.017%	$13K	$434K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	171.55	+0.006%	$1.5M	$688K	20x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MRNAUSDT	+0.0001%	8h	171.65	+0.065%	$2.1M	$12.0M	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−7.532%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	171.05	−0.285%	$2K	$64K	10x	as long as short
Ondo Perps MRNA-USD.P	+0.0050%	1h	171.41	−0.076%	$42K	$40K	5x	as long as short
edgeX MRNAUSDC	+0.0123%	4h	171.43	−0.065%	$3K	$256K	10x	as long as short
Lighter MRNA	+0.0160%	1h	171.60	+0.035%	$241K	$1.6M	10x	as long as short
Extended MRNA-USD	+0.0192%	1h	171.58	+0.024%	$31K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0196%	1h	171.62	+0.047%	$2.6M	$4.8M	10x	as long as short
Phoenix MRNA	+0.0278%	1h	171.57	+0.018%	$5K	$205K	10x	as long as short
SoDEX MRNA-USD	+0.0404%	1h	171.52	−0.011%	$40K	$56K	10x	as long as short
GRVT MRNA_USDT_Perp	+0.0644%	8h	171.44	−0.056%	$415	$128K	10x	as long as short