Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.032%

Price spread now: Hotstuff against Orderly+0.061%47s7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Hotstuff

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 for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hotstuff is 0.061% dearer against Orderly than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EURUSD_USDC	1.1460	0	get 0.0000% / 8h	7h 01m	$247K	$122K	50x
Short	Hotstuff EURUSD-PERP	1.1467	0.0168	get 0.0021% / 1h	1m 31s	$33K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Orderly. 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 OrderlybpFee HotstuffbpOrdersPrice spread, now +0.061%Rate

Funding earned: $35.28
Price spread: +0.061% → 0.000%: $6.11
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $30.39
Costs to cover: 0.110%
Break-even: 1.0 days

Slippage unknown: Orderly: no order-book sample; Hotstuff: 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 Orderly no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Orderly and Hotstuff: 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	−0.0144%	4h	1.1461	+0.009%	$6.8M	$145K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0131%	1h	1.1457	−0.025%	$3K	—	50x	as long as short
Lighter EURUSD	0.0000%	1h	1.1468	+0.069%	$2.1M	$567K	50x	as long as short
Orderly PERP_EURUSD_USDClong	0.0000%	8h	1.1460	long leg	$247K	$122K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1466	+0.052%	—	$2.1M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1469	+0.079%	$12K	$274K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1459	−0.005%	$6.8M	$1.4M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	+0.056%	$9K	$78K	101x	as long as short
Nado EURUSD-PERP	+0.0035%	1h	1.1464	+0.031%	$191K	$301K	40x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1491	+0.271%	—	$225K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate EURUSD_USDT	+0.0071%	8h	1.1465	+0.044%	$144K	$3K	100x	as long as short
Bitget EURUSDUSDT	+0.0076%	8h	1.1469	+0.079%	$263K	$27K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1460	+0.003%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1465	+0.043%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0162%	1h	1.1463	+0.026%	$23.1M	$1.9M	50x	as long as short
Hotstuff EURUSD-PERPshort	+0.0168%	1h	1.1467	+0.061%	$33K	—	50x
Hibachi EUR/USDT-P	+0.0440%	1h	1.1465	+0.039%	$155K	$8.4M	30x	as long as short
Bybit EURUSDUSDT	+0.0703%	8h	1.1469	+0.081%	$606K	$325K	100x	as long as short