Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.062%

Price spread now: Hibachi against Bitget−0.039%58s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.220% of the position

Long on Bitget Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.376%+$38 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.039%, 7d avg −0.010%

Together, before fees+0.439%+ Points / potential airdropHibachi: Active · farm board+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hibachi is 0.029% cheaper against Bitget than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of −0.010%). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$5 a day). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget EURUSDUSDT	1.1471	0	get 0.0000% / 8h	1h 04m	$250K	$70K	100x
Short	Hibachi EUR/USDT-P	1.1466	0.0152	get 0.0019% / 1h	4m 32s	$168K	$8.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Bitget. 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 BitgetbpFee HibachibpOrdersPrice spread, now −0.039%Rate

Funding earned: $31.92
Price spread: −0.039% → −0.010%: −$2.93
Slippage, 4 orders: −$0.96
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $7.03
Costs to cover: 0.220%
Break-even: 5.5 days

Slippage from Bitget: live order book, 5 min ago; Hibachi: live order book, 5 min ago.

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 Bitget live order book, 5 min ago	0.44 bp	6.4 bp −$6	7.0 bp −$70	doesn't fit	doesn't fit
Sell Hibachi live order book, 5 min ago	0.04 bp	4.5 bp −$5	doesn't fit	doesn't fit	doesn't fit

EUR on 18 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
MEXC EUR_USDT	−0.0134%	4h	1.1467	−0.035%	$6.8M	$160K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0125%	1h	1.1463	−0.066%	$3K	—	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1476	+0.044%	$593K	$535K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1478	+0.061%	$142K	$10K	100x	as long as short
Bitget EURUSDUSDTlong	0.0000%	8h	1.1471	long leg	$250K	$70K	100x
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1465	−0.052%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1472	+0.009%	—	$2.6M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1470	−0.009%	$13K	$252K	20x	as long as short
Lighter EURUSD	+0.0016%	1h	1.1478	+0.059%	$2.1M	$848K	50x	as long as short
Nado EURUSD-PERP	+0.0022%	1h	1.1467	−0.032%	$466K	$286K	40x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1465	−0.051%	$6.7M	$1.8M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1470	−0.005%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1497	+0.225%	—	$287K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1465	−0.049%	$190K	$187K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1476	+0.043%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0128%	1h	1.1473	+0.017%	$33K	—	50x	as long as short
Hibachi EUR/USDT-Pshort	+0.0152%	1h	1.1466	−0.039%	$168K	$8.2M	30x
tradeXYZ xyz:EUR	+0.0174%	1h	1.1472	+0.009%	$23.2M	$2.4M	50x	as long as short