Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0189%/8h= +20.7% APRpaid last 24h +0.052%

Price spread now: tradeXYZ against Bybit0.000%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$550.551% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.357%+$36 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now 0.000%, 7d avg +0.036%

Together, before fees+0.339%+ Points / potential airdroptradeXYZ: Active · farm board+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.036% cheaper against Bybit than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.036%). If the spread goes back, that is −$4 on $10k: about 15 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EURUSDUSDT	1.1480	0	get 0.0000% / 8h	3h 40m	$585K	$223K	100x
Short	tradeXYZ xyz:EUR	1.1480	0.0189	get 0.0024% / 1h	40m 30s	$23.3M	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now 0.000%Rate

Funding earned: $39.62
Price spread: 0.000% → +0.036%: −$3.62
Slippage, 4 orders: −$26.09
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$19.09
Costs to cover: 0.551%
Break-even: 10.4 days

Slippage from Bybit: live order book, 5 min ago; tradeXYZ: live order book, 9 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, 5 min ago	3.92 bp	19.0 bp −$19	41.7 bp −$417	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.87 bp	11.4 bp −$11	14.5 bp −$145	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
Hibachi EUR/USDT-P	−0.0200%	1h	1.1471	−0.074%	$165K	$8.3M	30x	as long as short
Kraken Futures PF_EURUSD	−0.0179%	1h	1.1473	−0.059%	$3K	—	50x	as long as short
MEXC EUR_USDT	−0.0138%	4h	1.1478	−0.017%	$6.8M	$132K	100x	as long as short
Lighter EURUSD	0.0000%	1h	1.1485	+0.044%	$2.1M	$415K	50x	as long as short
Bybit EURUSDUSDTlong	0.0000%	8h	1.1480	long leg	$585K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1479	−0.009%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1477	−0.026%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1474	−0.052%	$198K	$73K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1482	+0.017%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1482	+0.017%	$12K	$264K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado EURUSD-PERP	+0.0016%	1h	1.1478	−0.020%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1475	−0.048%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.118%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1506	+0.229%	—	$265K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1478	−0.017%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1482	+0.017%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0144%	1h	1.1482	+0.017%	$33K	—	50x	as long as short
tradeXYZ xyz:EURshort	+0.0189%	1h	1.1480	0.000%	$23.3M	$1.7M	50x