Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0095%/8h= +10.3% APRpaid last 24h +0.104%

Price spread now: Orderly against Kraken Futures+0.004%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures 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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_EURUSD	1.1463	−0.0095	get 0.0012% / 1h	15m 55s	$3K	—	50x
Short	Orderly PERP_EURUSD_USDC	1.1464	0	get 0.0000% / 8h	15m 55s	$198K	$111K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Kraken Futures. 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 Kraken FuturesbpFee OrderlybpOrdersPrice spread, now +0.004%Rate

Funding earned: $19.85
Price spread: +0.004% → 0.000%: $0.45
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $4.29
Costs to cover: 0.160%
Break-even: 5.5 days

Slippage unknown: Kraken Futures: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Kraken Futures 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
MEXC EUR_USDT	−0.0164%	4h	1.1466	+0.022%	$6.8M	$153K	100x	as long as short
Kraken Futures PF_EURUSDlong	−0.0095%	1h	1.1463	long leg	$3K	—	50x
Bybit EURUSDUSDT	0.0000%	8h	1.1472	+0.072%	$584K	$279K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1482	+0.162%	$142K	$4K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1471	+0.066%	$250K	$26K	100x	as long as short
Orderly PERP_EURUSD_USDCshort	0.0000%	8h	1.1464	+0.004%	$198K	$111K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1472	+0.074%	—	$2.6M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1473	+0.083%	$12K	$258K	20x	as long as short
Nado EURUSD-PERP	+0.0010%	1h	1.1466	+0.022%	$466K	$265K	40x	as long as short
Lighter EURUSD	+0.0024%	1h	1.1476	+0.106%	$2.1M	$534K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1464	+0.002%	$6.7M	$1.7M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1470	+0.060%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1495	+0.278%	—	$287K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1464	+0.008%	$190K	$146K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1475	+0.097%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0112%	1h	1.1473	+0.083%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0187%	1h	1.1471	+0.066%	$23.2M	$2.4M	50x	as long as short
Hibachi EUR/USDT-P	+0.0208%	1h	1.1467	+0.030%	$167K	$8.4M	30x	as long as short