Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.032%

Price spread now: Orderly against Hotstuff−0.052%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.052% cheaper against Hotstuff than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff EURUSD-PERP	1.1482	0.0112	pay 0.0014% / 1h	33m 49s	$33K	—	50x
Short	Orderly PERP_EURUSD_USDC	1.1476	0	get 0.0000% / 8h	2h 33m	$198K	$73K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Hotstuff. 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 HotstuffbpFee OrderlybpOrdersPrice spread, now −0.052%Rate

Funding earned: −$23.52
Price spread: −0.052% → 0.000%: −$5.23
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$39.75
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Orderly: no order-book sample. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Hotstuff and Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0192%	1h	1.1476	−0.057%	$168K	$8.3M	30x	as long as short
MEXC EUR_USDT	−0.0138%	4h	1.1480	−0.017%	$6.8M	$133K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0132%	1h	1.1473	−0.079%	$3K	—	50x	as long as short
Lighter EURUSD	0.0000%	1h	1.1487	+0.041%	$2.1M	$412K	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1482	+0.003%	$585K	$223K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1481	−0.009%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1478	−0.035%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDCshort	0.0000%	8h	1.1476	−0.052%	$198K	$73K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1481	−0.009%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1487	+0.044%	$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	+0.0021%	1h	1.1479	−0.030%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1476	−0.053%	$6.8M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.136%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1508	+0.225%	—	$265K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1481	−0.008%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1485	+0.022%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERPlong	+0.0112%	1h	1.1482	long leg	$33K	—	50x
tradeXYZ xyz:EUR	+0.0115%	1h	1.1480	−0.017%	$23.3M	$1.6M	50x	as long as short