Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.007%

Price spread now: Injective against Bybit−0.010%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EURUSDUSDT	1.1471	0	get 0.0000% / 8h	7h 54m	$584K	$279K	100x
Short	Injective EURUSD/USDC PERP	1.1470	0.0033	get 0.0004% / 1h	54m 40s	$9K	$78K	101x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.010%Rate

Funding earned: $7
Price spread: −0.010% → 0.000%: −$0.96
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$4.98
Costs to cover: 0.110%
Break-even: 12.0 days

Slippage unknown: Bybit: live order book, 10 min ago; Injective: 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, 10 min ago	2.35 bp	17.6 bp −$18	45.8 bp −$458	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0144%	4h	1.1468	−0.031%	$6.8M	$150K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0052%	1h	1.1464	−0.065%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0015%	1h	1.1468	−0.026%	$466K	$189K	40x	as long as short
Lighter EURUSD	0.0000%	1h	1.1474	+0.020%	$2.1M	$402K	50x	as long as short
Bybit EURUSDUSDTlong	0.0000%	8h	1.1471	long leg	$584K	$279K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1480	+0.074%	$142K	$4K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1472	+0.004%	$251K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1466	−0.048%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1472	+0.004%	—	$2.6M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1474	+0.022%	$12K	$257K	20x	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	1.1467	−0.036%	$6.7M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERPshort	+0.0033%	1h	1.1470	−0.010%	$9K	$78K	101x
Vest EUR-USD-PERP	+0.0046%	1h	1.1498	+0.229%	—	$264K	100x	as long as short
Hotstuff EURUSD-PERP	+0.0088%	1h	1.1475	+0.031%	$33K	—	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1467	−0.035%	$190K	$128K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1472	+0.003%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0161%	1h	1.1472	+0.004%	$23.2M	$2.4M	50x	as long as short
Hibachi EUR/USDT-P	+0.0232%	1h	1.1467	−0.038%	$161K	$8.3M	30x	as long as short