Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.002%

Price spread now: Bybit against Nado+0.121%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.226%−$23 on $10k

Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.121%, 7d avg +0.092%

Together, before fees−0.432%+ Points / potential airdropNado: Active · farm board−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.030% dearer against Nado than usual: you sell high and buy low (spread +0.121% now, against its 7-day average of +0.092%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 4 days (−0.226% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado EURUSD-PERP	1.1461	0.0044	pay 0.0006% / 1h	18m 36s	$467K	$159K	40x
Short	Bybit EURUSDUSDT	1.1475	0	get 0.0000% / 8h	18m 36s	$579K	$311K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.121%Rate

Funding earned: −$9.25
Price spread: +0.121% → +0.092%: $2.97
Slippage, 4 orders: −$19.63
Fee Nado: 0.7 bp × 2 orders: −$1.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.32
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Nado: live order book, 19 min ago; Bybit: live order book, 11 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 Nado live order book, 19 min ago	0.52 bp	3.9 bp −$4	4.7 bp −$47	doesn't fit	doesn't fit
Sell Bybit live order book, 11 min ago	6.14 bp	14.7 bp −$15	38.6 bp −$386	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	−0.0210%	4h	1.1464	+0.024%	$6.8M	$138K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0020%	1h	1.1460	−0.012%	$3K	—	50x	as long as short
Bybit EURUSDUSDTshort	0.0000%	8h	1.1475	+0.121%	$579K	$311K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1473	+0.102%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1471	+0.085%	$263K	$25K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1459	−0.020%	$247K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1468	+0.059%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1468	+0.059%	$12K	$272K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1458	−0.025%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	+0.045%	$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-PERPlong	+0.0044%	1h	1.1461	long leg	$467K	$159K	40x
Vest EUR-USD-PERP	+0.0046%	1h	1.1490	+0.252%	—	$241K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1458	−0.025%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1467	+0.048%	$12K	—	10x	as long as short
Lighter EURUSD	+0.0120%	1h	1.1469	+0.072%	$2.1M	$449K	50x	as long as short
Hotstuff EURUSD-PERP	+0.0208%	1h	1.1470	+0.076%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0216%	1h	1.1461	−0.005%	$162K	$8.4M	30x	as long as short
tradeXYZ xyz:EUR	+0.0220%	1h	1.1468	+0.059%	$23.2M	$1.7M	50x	as long as short