Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0192%/8h= +21.0% APRpaid last 24h −0.034%

Price spread now: Gate against Hibachi+0.053%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

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

costs, in and out, $10k−$580.577% of the position

Long on Hibachi Short on Gate

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)+0.010%+$1 · spread now +0.053%, 7d avg +0.068%

Together, before fees−0.366%+ Points / potential airdropHibachi: Active · farm board−$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.068%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.376%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi EUR/USDT-P	1.1473	−0.0192	get 0.0024% / 1h	45m 31s	$167K	$8.3M	30x
Short	Gate EURUSD_USDT	1.1479	0	get 0.0000% / 8h	3h 45m	$144K	$5K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.053%Rate

Funding earned: $40.32
Price spread: +0.053% → +0.068%: −$1.5
Slippage, 4 orders: −$33.65
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$18.83
Costs to cover: 0.577%
Break-even: 10.3 days

Slippage from Hibachi: live order book, 4 min ago; Gate: 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 Hibachi live order book, 4 min ago	0.04 bp	5.6 bp −$6	18.7 bp −$187	doesn't fit	doesn't fit
Sell Gate live order book, 65 min ago	8.28 bp	21.4 bp −$21	190.0 bp −$1,900	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-Plong	−0.0192%	1h	1.1473	long leg	$167K	$8.3M	30x
Kraken Futures PF_EURUSD	−0.0179%	1h	1.1474	+0.013%	$3K	—	50x	as long as short
MEXC EUR_USDT	−0.0130%	4h	1.1478	+0.045%	$6.8M	$132K	100x	as long as short
Lighter EURUSD	0.0000%	1h	1.1486	+0.112%	$2.1M	$412K	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1480	+0.061%	$585K	$223K	100x	as long as short
Gate EURUSD_USDTshort	0.0000%	8h	1.1479	+0.053%	$144K	$5K	100x
Bitget EURUSDUSDT	0.0000%	8h	1.1477	+0.036%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1476	+0.027%	$198K	$73K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1483	+0.088%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1478	+0.045%	$12K	$263K	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	+0.0015%	1h	1.1479	+0.054%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1475	+0.017%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.056%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1507	+0.297%	—	$265K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1480	+0.062%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1482	+0.083%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0144%	1h	1.1484	+0.097%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0197%	1h	1.1483	+0.088%	$23.3M	$1.8M	50x	as long as short