Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: Lighter against Orderly+0.080%7-day average +0.093% · you sell dearer than you buy

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

Long on Orderly Short on Lighter

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)−0.006%−$1 · spread now +0.080%, 7d avg +0.093%

Together, before fees−0.308%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EURUSD_USDC	1.1438	0	get 0.0000% / 8h	7h 42m	$246K	$122K	50x
Short	Lighter EURUSD	1.1447	0	get 0.0000% / 1h	42m 57s	$2.1M	$537K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → +0.093%: −$1.23
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.23
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 4 min ago. 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 Lighter live order book, 4 min ago	1.62 bp	3.2 bp −$3	7.1 bp −$71	37.1 bp −$3,712	doesn't fit

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	−0.0146%	4h	1.1444	+0.052%	$6.8M	$138K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0131%	1h	1.1443	+0.042%	$3K	—	50x	as long as short
Lighter EURUSDshort	0.0000%	1h	1.1447	+0.080%	$2.1M	$537K	50x
Bitget EURUSDUSDT	0.0000%	8h	1.1470	+0.280%	$263K	$25K	100x	as long as short
Orderly PERP_EURUSD_USDClong	0.0000%	8h	1.1438	long leg	$246K	$122K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1451	+0.114%	—	$2.3M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1453	+0.131%	$12K	$273K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1438	−0.001%	$6.8M	$1.4M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	+0.248%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1471	+0.290%	—	$224K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica EURUSD	+0.0100%	1h	1.1440	+0.020%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1444	+0.055%	$12K	—	10x	as long as short
Nado EURUSD-PERP	+0.0133%	1h	1.1444	+0.051%	$465K	$159K	40x	as long as short
Gate EURUSD_USDT	+0.0180%	8h	1.1460	+0.192%	$143K	$3K	100x	as long as short
tradeXYZ xyz:EUR	+0.0301%	1h	1.1449	+0.096%	$23.2M	$1.7M	50x	as long as short
Hotstuff EURUSD-PERP	+0.0328%	1h	1.1455	+0.149%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0384%	1h	1.1445	+0.064%	$169K	$8.4M	30x	as long as short
Bybit EURUSDUSDT	+0.1815%	8h	1.1473	+0.309%	$579K	$309K	100x	as long as short