Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Bybit against Extended+0.010%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$390.385% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.010%, 7d avg +0.035%

Together, before fees−0.251%+ Points / potential airdropExtended: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.025% cheaper against Extended than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended EUR-USD	1.1471	0.0032	pay 0.0004% / 1h	42m 43s	$6.7M	$1.2M	100x
Short	Bybit EURUSDUSDT	1.1473	0	get 0.0000% / 8h	4h 42m	$584K	$223K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$6.72
Price spread: +0.010% → +0.035%: −$2.46
Slippage, 4 orders: −$22.52
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$47.7
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Bybit: live order book, 7 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 Extended live order book, 1 min ago	0.04 bp	5.6 bp −$6	9.5 bp −$95	doesn't fit	doesn't fit
Sell Bybit live order book, 7 min ago	4.49 bp	10.0 bp −$10	33.1 bp −$331	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	−0.0168%	4h	1.1474	+0.022%	$6.8M	$133K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0062%	1h	1.1468	−0.027%	$3K	—	50x	as long as short
Hibachi EUR/USDT-P	−0.0016%	1h	1.1471	−0.005%	$164K	$8.2M	30x	as long as short
Bybit EURUSDUSDTshort	0.0000%	8h	1.1473	+0.010%	$584K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1474	+0.022%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1473	+0.014%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1472	+0.005%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1476	+0.040%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1475	+0.031%	$12K	$260K	20x	as long as short
Nado EURUSD-PERP	+0.0003%	1h	1.1474	+0.026%	$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-USDlong	+0.0032%	1h	1.1471	long leg	$6.7M	$1.2M	100x
Injective EURUSD/USDC PERP	+0.0039%	1h	1.1466	−0.044%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1503	+0.276%	—	$264K	100x	as long as short
Lighter EURUSD	+0.0064%	1h	1.1482	+0.094%	$2.1M	$435K	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1474	+0.022%	$190K	$61K	50x	as long as short
Hotstuff EURUSD-PERP	+0.0104%	1h	1.1477	+0.048%	$33K	—	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1478	+0.057%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0140%	1h	1.1477	+0.048%	$23.3M	$1.8M	50x	as long as short