MRNA Funding Rate — live across 10 venues
Perpetual funding · compared across 10 venues · net of estimated fees · updated every few minutesLive annualized MRNA perpetual funding across all 10 venues Perpia tracks. Right now MRNA funding is positive on 3 and negative on 2, ranging from +5.5% on Ondo Perps to -0.4% on Hyperliquid — a spread of 5.9%. The widest delta-neutral trade is long Gate.io / short Lighter at 3.4% net APR.
MRNA funding trend & liquidity
168h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
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Build a route
any two of the 10 venuesThis route is 1 pp below the widest one right now (Hyperliquid → Ondo Perps). The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.
Venues: pick the two legs
sorted by rate · 10 venues| Venue | Funding APR ↓ | Interval | Use as |
|---|---|---|---|
| Ondo Perps | +5.5% | every 1h | |
| Lighter↗short | +5.3% | every 8h | |
| Arcus↗ | +3.3% | every 1h | |
| Gate.io↗long | +0.0% | every 8h | |
| Variational↗ | +0.0% | every 8h | |
| OKX↗ | +0.0% | every 8h | |
| Bitget↗ | +0.0% | every 8h | |
| Bybit↗ | +0.0% | every 8h | |
| below — these venues pay the longs: this is the leg you buy | |||
| trade.xyz↗ | −0.3% | every 1h | |
| Hyperliquid↗ | −0.4% | every 1h | |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Gate.io vs Lighter page. 14 pairs scanned for MRNA.
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MRNA — FAQ
Is MRNA funding positive right now?
MRNA perpetual funding is positive on 3 of 10 venues Perpia tracks and negative on 2. The highest is +5.5% on Ondo Perps; the lowest is -0.4% on Hyperliquid.
What is the best MRNA funding arbitrage right now?
Go long Gate.io and short Lighter for about 3.4% net APR after fees — the widest delta-neutral MRNA spread Perpia currently sees.
Which exchange has the highest MRNA funding rate?
Ondo Perps, at +5.5% annualized. Funding shifts continuously, so check the live table above before trading.
How MRNA funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Markets related to MRNA
also quoted on both Gate.io and LighterThe same two exchanges you would already have funded for the MRNA trade. Every spread between them is on the Gate.io vs Lighter page.