Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.002%

Price spread now: Ondo Perps against Variational Omni+0.136%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Ondo Perps

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 · Ondo Perps: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.136% dearer against Variational Omni than usual: you sell high and buy low: +$14 more if the spread 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	173.26	0	get 0.0000% / 8h	3h 06m	$55K	$96K	—
Short	Ondo Perps MRNA-USD.P	173.50	0.0050	get 0.0006% / 1h	6m 05s	$43K	$35K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.136%Rate

Funding earned: $10.58
Price spread: +0.136% → 0.000%: $13.58
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $19.17
Costs to cover: 0.050%
Break-even: from the start

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

Variational Omni and Ondo Perps: 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
edgeX MRNAUSDC	−0.0877%	4h	173.40	+0.080%	$3K	$247K	10x	as long as short
BloFin MRNA-USDT	−0.0018%	8h	173.27	+0.003%	$45K	$29K	20x	as long as short
Aster MRNAUSDT	0.0000%	8h	173.20	−0.036%	$28K	$82K	20x	as long as short
Binance MRNAUSDT	0.0000%	8h	173.32	+0.032%	$2.2M	$11.3M	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.39	+0.072%	$942K	$620K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.18	−0.049%	$1.3M	$5.3M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.10	−0.095%	$1.1M	$2.6M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.17	−0.055%	$865K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.26	−0.003%	$2.7M	$10.5M	20x	as long as short
Variational Omni MRNAlong	0.0000%	8h	173.26	long leg	$55K	$96K	—

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MRNA_USDT_Perp	0.0000%	8h	173.49	+0.131%	$269	$149K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.34	+0.042%	$14K	$430K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.31	+0.026%	$1.6M	$646K	20x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.452%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.26	−0.003%	$2K	$65K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	173.16	−0.063%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNA	+0.0050%	1h	173.17	−0.055%	$2.7M	$4.5M	10x	as long as short
Ondo Perps MRNA-USD.Pshort	+0.0050%	1h	173.50	+0.136%	$43K	$35K	5x
SoDEX MRNA-USD	+0.0116%	1h	173.23	−0.020%	$40K	$56K	10x	as long as short
Phoenix MRNA	+0.0277%	1h	173.45	+0.107%	$5K	$191K	10x	as long as short
Lighter MRNA	+0.0280%	1h	173.45	+0.107%	$157K	$1.1M	10x	as long as short