Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0224%/8h= −24.5% APRpaid last 24h −0.030%

Price spread now: Bitget against Hibachi+0.118%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$220.225% of the position

Long on Hibachi Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.118%, 7d avg +0.016%

Together, before fees−0.538%+ Points / potential airdropHibachi: Active · farm board−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.103% dearer against Hibachi than usual: you sell high and buy low (spread +0.118% now, against its 7-day average of +0.016%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi EUR/USDT-P	1.1458	0.0224	pay 0.0028% / 1h	12m 25s	$166K	$8.4M	30x
Short	Bitget EURUSDUSDT	1.1472	0	get 0.0000% / 8h	12m 25s	$263K	$25K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hibachi. 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 HibachibpFee BitgetbpOrdersPrice spread, now +0.118%Rate

Funding earned: −$47.04
Price spread: +0.118% → +0.016%: $10.27
Slippage, 4 orders: −$1.45
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$59.23
Costs to cover: 0.225%
Break-even: never at this rate

Slippage from Hibachi: live order book, 2 min ago; Bitget: live order book, 17 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 Hibachi live order book, 2 min ago	0.04 bp	4.6 bp −$5	16.6 bp −$166	doesn't fit	doesn't fit
Sell Bitget live order book, 17 min ago	0.44 bp	6.4 bp −$6	8.9 bp −$89	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	−0.0200%	4h	1.1462	+0.031%	$6.8M	$139K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0020%	1h	1.1458	−0.002%	$3K	—	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1475	+0.141%	$579K	$311K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1471	+0.109%	$143K	$5K	100x	as long as short
Bitget EURUSDUSDTshort	0.0000%	8h	1.1472	+0.118%	$263K	$25K	100x
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1457	−0.013%	$247K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1466	+0.066%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1464	+0.048%	$12K	$272K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1457	−0.013%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	+0.069%	$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-PERP	+0.0046%	1h	1.1460	+0.010%	$466K	$159K	40x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1489	+0.264%	—	$241K	100x	as long as short
Lighter EURUSD	+0.0096%	1h	1.1468	+0.081%	$2.1M	$449K	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1457	−0.010%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1465	+0.058%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0223%	1h	1.1467	+0.075%	$23.2M	$1.7M	50x	as long as short
Hotstuff EURUSD-PERP	+0.0224%	1h	1.1467	+0.075%	$33K	—	50x	as long as short
Hibachi EUR/USDT-Plong	+0.0224%	1h	1.1458	long leg	$166K	$8.4M	30x