Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.002%

Price spread now: Nado against Bybit−0.130%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.226%+$23 on $10k

Price spread, last 4 days (all we have)+0.215%+$21 · spread now −0.130%, 7d avg −0.092%

Together, before fees+0.441%+ Points / potential airdropNado: Active · farm board+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.039% cheaper against Bybit than usual: you would sell low and buy high (spread −0.130% now, against its 7-day average of −0.092%). If the spread goes back, that is −$4 on $10k: about 2.9 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.226% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EURUSDUSDT	1.1482	0	get 0.0000% / 8h	37m 24s	$580K	$311K	100x
Short	Nado EURUSD-PERP	1.1467	0.0044	get 0.0006% / 1h	37m 24s	$467K	$159K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now −0.130%Rate

Funding earned: $9.26
Price spread: −0.130% → −0.092%: −$3.85
Slippage, 4 orders: −$19.64
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 0.7 bp × 2 orders: −$1.4
Net: −$26.64
Costs to cover: 0.320%
Break-even: 27.1 days

Slippage from Bybit: live order book, 58 min ago; Nado: live order book, 65 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 Bybit live order book, 58 min ago	4.00 bp	10.4 bp −$10	44.4 bp −$444	doesn't fit	doesn't fit
Sell Nado live order book, 65 min ago	0.92 bp	1.7 bp −$2	2.3 bp −$23	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	−0.0400%	4h	1.1467	−0.128%	$6.8M	$134K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0020%	1h	1.1462	−0.168%	$3K	—	50x	as long as short
Bybit EURUSDUSDTlong	0.0000%	8h	1.1482	long leg	$580K	$311K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1476	−0.050%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1472	−0.084%	$263K	$25K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1464	−0.154%	$247K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1470	−0.102%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1475	−0.058%	$12K	$272K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1464	−0.158%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.133%	$9K	$78K	101x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado EURUSD-PERPshort	+0.0044%	1h	1.1467	−0.130%	$467K	$159K	40x
Vest EUR-USD-PERP	+0.0046%	1h	1.1496	+0.124%	—	$241K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1468	−0.119%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1472	−0.087%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0184%	1h	1.1473	−0.076%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0208%	1h	1.1465	−0.147%	$163K	$8.3M	30x	as long as short
tradeXYZ xyz:EUR	+0.0225%	1h	1.1471	−0.093%	$23.2M	$1.6M	50x	as long as short
Lighter EURUSD	+0.0232%	1h	1.1476	−0.052%	$2.1M	$432K	50x	as long as short