PerpEquities

Equity · Healthcare

Moderna, Inc. (MRNA) perpetual futures

MRNA perpetual futures on 20 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade MRNAUSDT.

Moderna is a biotechnology firm developing mRNA-based therapies and vaccines for infectious diseases, cancer, rare, cardiovascular, and autoimmune conditions.

$145.03-2.2%NASDAQ closed
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venue perp mark · Binance (MRNA/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

20/20 live markets
Venues
20
Live markets
20/20
24h volume
$13.4MCoverage: 15/20 marketsExchange-reported volume: $39.7M
Open interest
$34.6MCoverage: 17/20 markets
Best liquidity
$905.2K
Bitget
Tightest spread
+1.4 bps
Binance
Highest volume
$5.9M
Hyperliquid HIP-3
Settlement mix
USDT · 15/20
Perp/spot vol.
0.01x
Spot volume $2.2B
OI / float
+0.06%
Float $54B
Spot performance
1D-2.23%
5D+6.09%
1M+155.40%
6M+151.82%
YTD+393.56%
1Y+499.46%

Venue matrix

20 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BinanceTradeMRNA/USDTTrading$144.940.0% APR
0.000% every 8h
+1.4 bps$128.9K$9M$1.4MUSDT-
BitgetTradeMRNA/USDTTrading$145.030.0% APR
0.000% every 8h
+2.8 bps$905.2K$7.7M$938.4KUSDT20x
Hyperliquid HIP-3Tradexyz:MRNATrading$144.92+4.7% APR
+0.00054% every 1h
--$5.9M$2.1MUSDC10x
OurbitTradeMRNA/USDTTrading$144.920.0% APR
0.000% every 8h
+4.1 bps-$4.3M$122.5KUSDT50x
OKXTradeMRNA/USDTTrading$144.970.0% APR
0.000% every 8h
+2.1 bps$112.1K$4M$1.1MUSDT20x
XT.comTradeMRNA/USDTTrading$144.93+1.4% APR
+0.00125% every 8h
+5.5 bps$73.2K$2.7M$26.4MUSDT20x
BingXTradeMRNA-USDTTrading$144.94-5.5% APR
-0.00500% every 8h
+9.0 bps$186.7K$1.3M$13.8KUSDT-
LBankTradeMRNA/USDTTrading$144.910.0% APR
0.000% every 8h
--$1.2M-USDT50x
BybitTradeMRNA/USDTTrading$144.860.0% APR
0.000% every 8h
+9.0 bps$18.5K$965.3K$666.9KUSDT25x
Gate.ioTradeMRNA/USDTTrading$144.910.0% APR
0.000% every 8h
+16.6 bps$54.1K$704.5K$718.8KUSDT20x
PhemexTradeMRNA / USDTTrading$144.950.0% APR
0.000% every 8h
+4.8 bps$33.7K$535.5K$1MUSDT20x
BitunixTradeMRNA/USDTTrading$144.95-0.3% APR
-0.00025% every 8h
+11.0 bps$175.7K$443.6K-USDT20x
HTXTradeMRNA/USDTTrading$145.010.0% APR
0.000% every 8h
+71.0 bps$185.3K$400.7K$8.6KUSDT-
AsterTradeMRNAUSDTTrading$144.830.0% APR
0.000% every 8h
+13.3 bps$30.1K$229.9K$87.7KUSDT-
GRVTTradeMRNA/USDTTrading$144.910.0% APR
0.000% every 8h
+16.6 bps$53.4K$113.2K$1.5KUSDT-
Helix (Injective)TradeMRNA/USDCTrading$144.92+3.6% APR
+0.00042% every 1h
--$107.3K-USDC12x
Ondo PerpsTradeMRNA/USDTrading$144.94-+7.6 bps$278.2K$58.1K$25.5KUSDC5x
BloFinTradeMRNA/USDTTrading$144.94-2.1% APR
-0.00188% every 8h
+1.4 bps$81.4K$35.1K$54KUSDT20x
ExtendedTradeMRNA/USDTrading$144.90+4.4% APR
+0.00050% every 1h
+15.2 bps$34.1K$1.2K$10.7KUSD10x
Crypto.com ExchangeTradeMRNA/USDTrading$153.12+209.5% APR
+0.024% every 1h
+11.0 bps$7.5K$528.3$18.4USD50x

Tradability

Execution quality

Broad liquidity · 15 of 20 venues absorb $10k · Typical cost: +15.5 bps – +35.4 bps

Cheapest execution: Ondo Perps · +7.5 bps

Too thin: Bybit, Crypto.com Exchange

No fresh book data: Ourbit, LBank, Helix (Injective)

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 2h ago
Market cap
$57.8B
Updated 2h ago
Revenue
$2.2B
Trailing 12 months
Revenue growth
+8%
Next fiscal year
Profit margin
-141.4%
P/E
-18.2
Peer P/E 19.1
Free cash flow
-$1.2B
Trailing 12 months
More metrics
Net income
-$3.2B
Trailing 12 months
P/S
25.9
Peer P/E
19.1
Similar listed perps
Revenue estimate
$2.1B
Next fiscal year
Earnings
2026-11-05
Revenue est. $876.7M · Updated 2h ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$1.9B
Net margin-145.2%
Free cash flow-$2.1B
Net debt-$679M
2020$803.4M
2021$17.7B
2022$18.9B
2023$6.8B
2024$3.2B
2025$1.9B
PeriodRevenueGrowthNet incomeFCF
2020$803.4M+1,234%-$747.1M$2B
2021$17.7B+2,108%$12.2B$13.3B
2022$18.9B+6%$8.4B$4.6B
2023$6.8B-64%-$4.7B-$3.8B
2024$3.2B-53%-$3.6B-$4.1B
2025$1.9B-39%-$2.8B-$2.1B
PeriodGross marginOperating marginNet marginROEROA
2020+95.1%-95.0%-93.0%-29.2%-10.2%
2021+85.2%+75.0%+68.8%+86.3%+49.5%
2022+71.3%+49.9%+44.3%+43.7%+32.3%
2023+31.5%-61.9%-68.8%-34.0%-25.6%
2024+54.2%-123.3%-111.3%-32.7%-25.2%
2025+55.3%-158.1%-145.2%-32.6%-22.9%
PeriodCashDebtNet debtCurrent ratio
2020$2.6B$237M-$2.4B1.43
2021$6.8B$916M-$5.9B1.76
2022$3.2B$1.2B-$2B2.73
2023$2.9B$1.2B-$1.7B3.42
2024$1.9B$747M-$1.2B3.67
2025$2.6B$1.9B-$679M3.29
PeriodMarket capEnterprise valueP/SP/E
2020$39.8B$37.5B49.6-53.3
2021$102.4B$96.4B5.88.4
2022$70.8B$68.8B3.78.4
2023$38B$36.3B5.5-8.1
2024$16B$14.8B5.0-4.5
2025$11.5B$10.8B5.9-4.1
Q3 2024$1.9B
Q4 2024$956M
Q1 2025$107M
Q2 2025$142M
Q3 2025$1B
Q4 2025$678M
Q1 2026$389M
Q2 2026$145M
PeriodRevenueGrowthNet incomeFCF
Q3 2024$1.9B+1%$13M-$1.7B
Q4 2024$956M-66%-$1.1B$303M
Q1 2025$107M-36%-$971M-$1.2B
Q2 2025$142M-36%-$825M-$922M
Q3 2025$1B-45%-$200M-$880M
Q4 2025$678M-29%-$826M$912M
Q1 2026$389M+264%-$1.3B-$692M
Q2 2026$145M+2%-$782M-$563M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+72.3%-3.8%+0.7%+0.1%+0.1%
Q4 2024+22.7%-130.3%-117.2%-10.3%-7.9%
Q1 2025+15.9%-981.3%-907.5%-9.6%-7.6%
Q2 2025+16.2%-638.7%-581.0%-8.8%-6.9%
Q3 2025+0.8%-25.6%-19.7%-2.1%-1.6%
Q4 2025+33.3%-126.4%-121.8%-9.5%-6.7%
Q1 2026-145.5%-356.8%-345.2%-18.1%-11.7%
Q2 2026+35.9%-562.1%-539.3%-11.6%-7.1%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$1.6B$1.4B-$289M4.39
Q4 2024$1.9B$747M-$1.2B3.67
Q1 2025$1.6B$745M-$878M4.22
Q2 2025$1.3B$741M-$538M3.93
Q3 2025$1.1B$1.4B$261M3.93
Q4 2025$2.6B$1.9B-$679M3.29
Q1 2026$1.9B$1.3B-$610M2.41
Q2 2026$1.7B$1.3B-$436M2.29
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$25.7B$25.4B13.9494.3
Q4 2024$16B$14.8B16.7-3.6
Q1 2025$10.9B$10.1B102.3-2.8
Q2 2025$10.7B$10.2B75.4-3.2
Q3 2025$10.1B$10.3B9.9-12.7
Q4 2025$11.6B$10.9B17.1-3.5
Q1 2026$20.1B$19.5B51.6-3.7
Q2 2026$27.7B$27.3B191.3-8.9
Historical value series
Revenue
Q3 2023: $1.8BQ4 2023: $2.8BQ1 2024: $167MQ2 2024: $221MQ3 2024: $1.9BQ4 2024: $956MQ1 2025: $107MQ2 2025: $142MQ3 2025: $1BQ4 2025: $678MQ1 2026: $389MQ2 2026: $145MQ3 2023Q2 2026
Net income
Q3 2023: -$3.6BQ4 2023: $217MQ1 2024: -$1.2BQ2 2024: -$1.3BQ3 2024: $13MQ4 2024: -$1.1BQ1 2025: -$971MQ2 2025: -$825MQ3 2025: -$200MQ4 2025: -$826MQ1 2026: -$1.3BQ2 2026: -$782MQ3 2023Q2 2026
EBITDA
Q3 2023: -$1.7BQ4 2023: $278MQ1 2024: -$1.1BQ2 2024: -$1.2BQ3 2024: $79MQ4 2024: -$1.1BQ1 2025: -$924MQ2 2025: -$760MQ3 2025: -$135MQ4 2025: -$732MQ1 2026: -$1.3BQ2 2026: -$704MQ3 2023Q2 2026
Free cash flow
Q3 2023: -$1.7BQ4 2023: $402MQ1 2024: -$1.2BQ2 2024: -$1.5BQ3 2024: -$1.7BQ4 2024: $303MQ1 2025: -$1.2BQ2 2025: -$922MQ3 2025: -$880MQ4 2025: $912MQ1 2026: -$692MQ2 2026: -$563MQ3 2023Q2 2026
EPS
Q3 2023: -$9.53Q4 2023: $0.55Q1 2024: -$3.08Q2 2024: -$3.33Q3 2024: $0.03Q4 2024: -$2.91Q1 2025: -$2.52Q2 2025: -$2.13Q3 2025: -$0.51Q4 2025: -$2.11Q1 2026: -$3.4Q2 2026: -$1.96Q3 2023Q2 2026
Cash / Debt
Q3 2023 · Cash: $2.9BQ3 2023 · Debt: $1.5BQ4 2023 · Cash: $2.9BQ4 2023 · Debt: $1.2BQ1 2024 · Cash: $2.1BQ1 2024 · Debt: $1.2BQ2 2024 · Cash: $2.5BQ2 2024 · Debt: $1.3BQ3 2024 · Cash: $1.6BQ3 2024 · Debt: $1.4BQ4 2024 · Cash: $1.9BQ4 2024 · Debt: $747MQ1 2025 · Cash: $1.6BQ1 2025 · Debt: $745MQ2 2025 · Cash: $1.3BQ2 2025 · Debt: $741MQ3 2025 · Cash: $1.1BQ3 2025 · Debt: $1.4BQ4 2025 · Cash: $2.6BQ4 2025 · Debt: $1.9BQ1 2026 · Cash: $1.9BQ1 2026 · Debt: $1.3BQ2 2026 · Cash: $1.7BQ2 2026 · Debt: $1.3BQ3 2023Q2 2026
CashDebt
Profitability
Q3 2023 · Gross margin: -22.4%Q4 2023 · Gross margin: +67.0%Q1 2024 · Gross margin: +42.5%Q2 2024 · Gross margin: +48.0%Q3 2024 · Gross margin: +72.3%Q4 2024 · Gross margin: +22.7%Q1 2025 · Gross margin: +15.9%Q2 2025 · Gross margin: +16.2%Q3 2025 · Gross margin: +0.8%Q4 2025 · Gross margin: +33.3%Q1 2026 · Gross margin: -145.5%Q2 2026 · Gross margin: +35.9%Q3 2023 · Operating margin: -109.9%Q4 2023 · Operating margin: +0.2%Q1 2024 · Operating margin: -758.1%Q2 2024 · Operating margin: -616.7%Q3 2024 · Operating margin: -3.8%Q4 2024 · Operating margin: -130.3%Q1 2025 · Operating margin: -981.3%Q2 2025 · Operating margin: -638.7%Q3 2025 · Operating margin: -25.6%Q4 2025 · Operating margin: -126.4%Q1 2026 · Operating margin: -356.8%Q2 2026 · Operating margin: -562.1%Q3 2023 · Net margin: -198.3%Q4 2023 · Net margin: +7.7%Q1 2024 · Net margin: -703.6%Q2 2024 · Net margin: -578.7%Q3 2024 · Net margin: +0.7%Q4 2024 · Net margin: -117.2%Q1 2025 · Net margin: -907.5%Q2 2025 · Net margin: -581.0%Q3 2025 · Net margin: -19.7%Q4 2025 · Net margin: -121.8%Q1 2026 · Net margin: -345.2%Q2 2026 · Net margin: -539.3%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth
Q2 2024: -35.8%Q3 2024: +1.3%Q4 2024: -66.0%Q1 2025: -35.9%Q2 2025: -35.7%Q3 2025: -45.2%Q4 2025: -29.1%Q1 2026: +263.6%Q2 2026: +2.1%Q3 2023Q2 2026
Shares outstanding
Q3 2023: 381MQ4 2023: 395MQ1 2024: 382MQ2 2024: 384MQ3 2024: 399MQ4 2024: 385MQ1 2025: 386MQ2 2025: 388MQ3 2025: 390MQ4 2025: 392MQ1 2026: 395MQ2 2026: 396MQ3 2023Q2 2026
Valuation
Q3 2023 · P/E: -2.7Q4 2023 · P/E: 43.6Q1 2024 · P/E: -8.6Q2 2024 · P/E: -8.7Q3 2024 · P/E: 494.3Q4 2024 · P/E: -3.6Q1 2025 · P/E: -2.8Q2 2025 · P/E: -3.2Q3 2025 · P/E: -12.7Q4 2025 · P/E: -3.5Q1 2026 · P/E: -3.7Q2 2026 · P/E: -8.9Q3 2023 · P/S: 21.5Q4 2023 · P/S: 13.5Q1 2024 · P/S: 241.6Q2 2024 · P/S: 201.5Q3 2024 · P/S: 13.9Q4 2024 · P/S: 16.7Q1 2025 · P/S: 102.3Q2 2025 · P/S: 75.4Q3 2025 · P/S: 9.9Q4 2025 · P/S: 17.1Q1 2026 · P/S: 51.6Q2 2026 · P/S: 191.3Q3 2023Q2 2026
P/EP/S
Revenue
2018: $135.1M2019: $60.2M2020: $803.4M2021: $17.7B2022: $18.9B2023: $6.8B2024: $3.2B2025: $1.9B20182025
Net income
2018: -$384.7M2019: -$514M2020: -$747.1M2021: $12.2B2022: $8.4B2023: -$4.7B2024: -$3.6B2025: -$2.8B20182025
EBITDA
2018: -$412.1M2019: -$477.1M2020: -$703.4M2021: $13.5B2022: $10B2023: -$3.3B2024: -$3.4B2025: -$2.6B20182025
Free cash flow
2018: -$436.6M2019: -$490.5M2020: $2B2021: $13.3B2022: $4.6B2023: -$3.8B2024: -$4.1B2025: -$2.1B20182025
EPS
2018: -$1.172019: -$1.552020: -$1.962021: $28.32022: $20.12023: -$12.32024: -$9.272025: -$7.2620182025
Cash / Debt
2018 · Cash: $658.4M2018 · Debt: $33.5M2019 · Cash: $235.9M2019 · Debt: $132.4M2020 · Cash: $2.6B2020 · Debt: $237M2021 · Cash: $6.8B2021 · Debt: $916M2022 · Cash: $3.2B2022 · Debt: $1.2B2023 · Cash: $2.9B2023 · Debt: $1.2B2024 · Cash: $1.9B2024 · Debt: $747M2025 · Cash: $2.6B2025 · Debt: $1.9B20182025
CashDebt
Profitability
2018 · Gross margin: +81.6%2019 · Gross margin: +48.5%2020 · Gross margin: +95.1%2021 · Gross margin: +85.2%2022 · Gross margin: +71.3%2023 · Gross margin: +31.5%2024 · Gross margin: +54.2%2025 · Gross margin: +55.3%2018 · Operating margin: -347.1%2019 · Operating margin: -906.4%2020 · Operating margin: -95.0%2021 · Operating margin: +75.0%2022 · Operating margin: +49.9%2023 · Operating margin: -61.9%2024 · Operating margin: -123.3%2025 · Operating margin: -158.1%2018 · Net margin: -284.8%2019 · Net margin: -853.7%2020 · Net margin: -93.0%2021 · Net margin: +68.8%2022 · Net margin: +44.3%2023 · Net margin: -68.8%2024 · Net margin: -111.3%2025 · Net margin: -145.2%20182025
Gross marginOperating marginNet margin
Revenue growth
2019: -55.4%2020: +1,234.3%2021: +2,107.6%2022: +6.4%2023: -63.7%2024: -53.3%2025: -39.2%20182025
Shares outstanding
2018: 328.8M2019: 330.8M2020: 381.3M2021: 431M2022: 416M2023: 382M2024: 384M2025: 389M20182025
Valuation
2018 · P/E: -13.12019 · P/E: -12.62020 · P/E: -53.32021 · P/E: 8.42022 · P/E: 8.42023 · P/E: -8.12024 · P/E: -4.52025 · P/E: -4.12018 · P/S: 37.22019 · P/S: 107.52020 · P/S: 49.62021 · P/S: 5.82022 · P/S: 3.72023 · P/S: 5.52024 · P/S: 5.02025 · P/S: 5.920182025
P/EP/S

Refreshed 2h ago

Next catalyst

Catalysts

Earnings
2026-11-05
Revenue est. $876.7M · Updated 2h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-8.46$2.1B+8%16
FY 2027-4.89$2.4B+23%15
FY 2028-2.82$3.3B+70%14
FY 20290.66$5.7B+195%7
FY 20303.80$7.9B+309%11
Q2 2026-2.03$102.9M-28%11

Company events

6
2026-11-05EarningsActual - / Estimate -1.36-
2026-07-31EarningsActual -1.97 / Estimate -2.03Beat
2026-05-01EarningsActual -3.4 / Estimate -4.45Beat
2026-02-13EarningsActual -2.11 / Estimate -2.54Beat
2025-11-06EarningsActual -0.51 / Estimate -1.87Beat
2025-08-01EarningsActual -2.13 / Estimate -2.99Beat

Peer comparison

Similar listed perps

FMP company data

Company intelligence

Updated: Sep 4, 2026, 06:50 PM UTC

Company profile

Sector
Healthcare
Industry
Biotechnology
Chief executive
Stéphane Bancel
Employees
4,700
IPO date
Dec 7, 2018
Country
US
Exchange
NASDAQ Global Select
Website
Altman Z-scorei8.84
Piotroski scorei2/9
FMP ratingiC-
Owner earningsi-$562.23M-$1.42 per share
ESG risk ratingiBIndustry rank: 626 out of 724

Rating factors

Return on equityi
1
Return on assetsi
1
Debt to equityi
3
Price to earningsi
1
Price to booki
2
Market cap history
2026-06-042026-09-03Latest: $58.95BHigh: $61.09BLow: $20.38B
Largest fund holders
FundWeightShares held
VTI0.03%11.4M
VOO0.03%9.3M
VB0.24%8.2M
VBR0.42%5.2M
FXAIX0.04%5M
FCNKX0.17%4.8M
IVV0.07%4.7M
XAW.TO0.04%4.7M
VWIGX0.69%4.5M
SPY0.07%4.3M
RSP0.56%4.1M
IBB3.57%2.7M

Frequently asked questions

Where can I trade MRNA perpetual futures?

Moderna, Inc. (MRNA) perpetual futures trade on 20 crypto venues, including Binance, Bitget, Hyperliquid HIP-3. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade MRNA around the clock?

Yes. Unlike the underlying stock, MRNA perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on MRNA perpetuals?

Right now the MRNA perp funding rate is +0.7% annualized (venue median), ranging from 0.0% to +4.7% across 20 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the MRNA perp price compare to the Moderna, Inc. stock?

The venue-median MRNA perp mark is $144.9 versus a reference stock price of $145, a basis of -0.1%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a MRNA perpetual future?

A MRNA perpetual is a derivative that tracks the price of Moderna, Inc. with no expiry date. It lets you take long or short exposure to Moderna, Inc. on crypto venues, around the clock.

What is MRNAUSDT perpetual?

MRNAUSDT is the symbol most crypto exchanges use for the Moderna, Inc. perpetual settled in USDT (Tether). It tracks the MRNA share price through an index, trades 24/7 with leverage and never expires.

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