Funding arb · Price arb /

MRNA

RWAall MRNA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.026%

Price spread now: tradeXYZ against Variational Omni−0.077%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 tradeXYZ

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 airdropVariational Omni: Active · tradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.077% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.077% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 5.2 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	Variational Omni MRNA	173.77	0	get 0.0000% / 8h	4h 34m	$49K	$89K	—
Short	tradeXYZ xyz:MRNA	173.64	0.0050	get 0.0006% / 1h	34m 25s	$2.6M	$4.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.077%Rate

Funding earned: $10.5
Price spread: −0.077% → 0.000%: −$7.75
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$15.25
Costs to cover: 0.180%
Break-even: 17.2 days

Slippage unknown: Variational Omni: no order-book sample; tradeXYZ: live order book, 4 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 no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 4 min ago	0.86 bp	13.0 bp −$13	20.1 bp −$201	doesn't fit	doesn't fit

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	173.80	+0.017%	$28K	$82K	20x	as long as short
Bybit MRNAUSDT	0.0000%	8h	173.77	−0.003%	$947K	$615K	25x	as long as short
OKX MRNA-USDT-SWAP	0.0000%	8h	173.72	−0.031%	$1.3M	$5.2M	20x	as long as short
QFEX MRNA-USD	0.0000%	1h	173.56	−0.123%	$1.1M	$2.7M	10x	as long as short
Gate MRNA_USDT	0.0000%	8h	173.75	−0.014%	$869K	$1.0M	20x	as long as short
Bitget MRNAUSDT	0.0000%	8h	173.68	−0.054%	$2.8M	$10.5M	20x	as long as short
Variational Omni MRNAlong	0.0000%	8h	173.77	long leg	$49K	$89K	—
GRVT MRNA_USDT_Perp	0.0000%	8h	173.84	+0.037%	$450	$147K	10x	as long as short
HTX MRNA-USDT	0.0000%	8h	173.67	−0.058%	$13K	$433K	20x	as long as short
Phemex MRNAUSDT	0.0000%	8h	173.78	+0.003%	$1.6M	$640K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MRNA-USDT	+0.0013%	8h	173.77	−0.003%	$45K	$29K	20x	as long as short
Binance MRNAUSDT	+0.0023%	8h	173.76	−0.009%	$2.2M	$11.2M	20x	as long as short
Lighter MRNA	+0.0032%	1h	173.87	+0.055%	$158K	$1.1M	10x	as long as short
Injective MRNA/USDC PERP	+0.0033%	1h	158.62	−8.721%	$18K	$8K	12x	as long as short
Arcus MRNA-USD	+0.0040%	1h	173.69	−0.049%	$2K	$63K	10x	as long as short
Extended MRNA-USD	+0.0048%	1h	173.64	−0.075%	$32K	$32K	10x	as long as short
tradeXYZ xyz:MRNAshort	+0.0050%	1h	173.64	−0.077%	$2.6M	$4.4M	10x
Ondo Perps MRNA-USD.P	+0.0050%	1h	173.58	−0.112%	$43K	$35K	5x	as long as short
Phoenix MRNA	+0.0230%	1h	173.84	+0.038%	$5K	$191K	10x	as long as short
SoDEX MRNA-USD	+0.0324%	1h	173.74	−0.020%	$40K	$56K	10x	as long as short
edgeX MRNAUSDC	+0.0370%	4h	173.83	+0.030%	$3K	$246K	10x	as long as short