Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.015%

Price spread now: Orderly against Lighter−0.071%7-day average −0.092% · you buy dearer than you sell

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

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.303%+$30 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.071%, 7d avg −0.092%

Together, before fees+0.285%+ Points / potential airdropLighter: Season 3 · farm board+$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.022% dearer against Lighter than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EURUSD	1.1475	0	get 0.0000% / 1h	50m 01s	$2.1M	$507K	50x
Short	Orderly PERP_EURUSD_USDC	1.1467	0	get 0.0000% / 8h	5h 50m	$247K	$122K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Lighter. 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 LighterbpFee OrderlybpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.092%: $2.19
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$3.81
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 5 min ago; 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 Lighter live order book, 5 min ago	0.65 bp	3.6 bp −$4	12.3 bp −$123	71.1 bp −$7,105	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 exchanges

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
Hotstuff EURUSD-PERP	−0.0800%	1h	1.1471	−0.036%	$33K	—	50x	as long as short
MEXC EUR_USDT	−0.0196%	4h	1.1469	−0.053%	$6.8M	$142K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0111%	1h	1.1464	−0.098%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0038%	1h	1.1472	−0.029%	$191K	$298K	40x	as long as short
Lighter EURUSDlong	0.0000%	1h	1.1475	long leg	$2.1M	$507K	50x
Bybit EURUSDUSDT	0.0000%	8h	1.1486	+0.092%	$625K	$350K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1473	−0.018%	$144K	$3K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1471	−0.036%	$263K	$27K	100x	as long as short
Orderly PERP_EURUSD_USDCshort	0.0000%	8h	1.1467	−0.071%	$247K	$122K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1472	−0.027%	—	$1.7M	10x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX EURUSD-USDT	0.0000%	1h	1.1474	−0.010%	$12K	$272K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1467	−0.074%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.076%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1500	+0.213%	—	$202K	100x	as long as short
tradeXYZ xyz:EUR	+0.0060%	1h	1.1471	−0.036%	$23.2M	$1.9M	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1469	−0.049%	$196K	$64K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1472	−0.023%	$12K	—	10x	as long as short
Hibachi EUR/USDT-P	+0.0328%	1h	1.1472	−0.030%	$155K	$8.1M	30x	as long as short