Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0005%/8h= −0.6% APRpaid last 24h −0.001%

Price spread now: Nado against Orderly+0.030%7-day average −0.022% · you sell dearer than you buy

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

Long on Orderly Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.326%−$33 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now +0.030%, 7d avg −0.022%

Together, before fees−0.340%+ Points / potential airdropNado: Active · farm board−$34 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: Nado is 0.052% dearer against Orderly than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EURUSD_USDC	1.1471	0	get 0.0000% / 8h	5h 30m	$198K	$111K	50x
Short	Nado EURUSD-PERP	1.1474	−0.0005	pay 0.0001% / 1h	30m 24s	$467K	$154K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now +0.030%Rate

Funding earned: −$1.15
Price spread: +0.030% → −0.022%: $5.18
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 0.7 bp × 2 orders: −$1.4
Net: −$3.37
Costs to cover: 0.074%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Nado: live order book, 32 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 Nado live order book, 32 min ago	1.88 bp	2.7 bp −$3	3.5 bp −$35	doesn't fit	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	−0.0132%	4h	1.1473	+0.017%	$6.8M	$137K	100x	as long as short
Nado EURUSD-PERPshort	−0.0005%	1h	1.1474	+0.030%	$467K	$154K	40x
Bybit EURUSDUSDT	0.0000%	8h	1.1473	+0.014%	$584K	$281K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1473	+0.017%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1473	+0.017%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDClong	0.0000%	8h	1.1471	long leg	$198K	$111K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1476	+0.044%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1479	+0.070%	$13K	$258K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1471	0.000%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.040%	$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
Vest EUR-USD-PERP	+0.0046%	1h	1.1503	+0.278%	—	$264K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1474	+0.026%	$190K	$61K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1478	+0.058%	$12K	—	10x	as long as short
Kraken Futures PF_EURUSD	+0.0119%	1h	1.1468	−0.025%	$3K	—	50x	as long as short
Lighter EURUSD	+0.0224%	1h	1.1482	+0.095%	$2.1M	$444K	50x	as long as short
tradeXYZ xyz:EUR	+0.0231%	1h	1.1477	+0.052%	$23.3M	$1.8M	50x	as long as short
Hibachi EUR/USDT-P	+0.0232%	1h	1.1469	−0.015%	$158K	$8.2M	30x	as long as short
Hotstuff EURUSD-PERP	+0.0256%	1h	1.1479	+0.070%	$33K	—	50x	as long as short