Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.031%

Price spread now: Hotstuff against Bybit+0.038%53s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Hotstuff

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 airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hotstuff is 0.038% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 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	Bybit EURUSDUSDT	1.1473	0	get 0.0000% / 8h	4h 41m	$584K	$223K	100x
Short	Hotstuff EURUSD-PERP	1.1477	0.0064	get 0.0008% / 1h	41m 46s	$33K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Bybit. 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 BybitbpFee HotstuffbpOrdersPrice spread, now +0.038%Rate

Funding earned: $13.44
Price spread: +0.038% → 0.000%: $3.84
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $1.28
Costs to cover: 0.160%
Break-even: 6.3 days

Slippage unknown: Bybit: live order book, 8 min ago; Hotstuff: 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 Bybit live order book, 8 min ago	4.49 bp	19.7 bp −$20	45.9 bp −$459	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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.

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	−0.0176%	4h	1.1474	+0.012%	$6.8M	$133K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0062%	1h	1.1468	−0.037%	$3K	—	50x	as long as short
Hibachi EUR/USDT-P	−0.0016%	1h	1.1470	−0.019%	$164K	$8.2M	30x	as long as short
Bybit EURUSDUSDTlong	0.0000%	8h	1.1473	long leg	$584K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1474	+0.012%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1473	+0.003%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1471	−0.014%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1477	+0.038%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1485	+0.108%	$12K	$260K	20x	as long as short
Nado EURUSD-PERP	+0.0001%	1h	1.1474	+0.015%	$467K	$153K	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	1.1471	−0.016%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0039%	1h	1.1466	−0.054%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1503	+0.264%	—	$264K	100x	as long as short
Lighter EURUSD	+0.0064%	1h	1.1482	+0.084%	$2.1M	$435K	50x	as long as short
Hotstuff EURUSD-PERPshort	+0.0064%	1h	1.1477	+0.038%	$33K	—	50x
Pacifica EURUSD	+0.0100%	1h	1.1474	+0.012%	$190K	$61K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1478	+0.051%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0139%	1h	1.1477	+0.038%	$23.3M	$1.8M	50x	as long as short