Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Gate against Pacifica+0.140%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$690.691% of the position

Long on Pacifica Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.140%, 7d avg +0.004%

Together, before fees−0.354%+ Points / potential airdropPacifica: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.136% dearer against Pacifica than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of +0.004%): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica EURUSD	1.1447	0.0100	pay 0.0013% / 1h	58m 50s	$191K	$60K	50x
Short	Gate EURUSD_USDT	1.1463	0	get 0.0000% / 8h	7h 58m	$143K	$3K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Pacifica. 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 PacificabpFee GatebpOrdersPrice spread, now +0.140%Rate

Funding earned: −$21
Price spread: +0.140% → +0.004%: $13.61
Slippage, 4 orders: −$46.07
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$76.46
Costs to cover: 0.691%
Break-even: never at this rate

Slippage from Pacifica: live order book, 39 min ago; Gate: live order book, 32 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 Pacifica live order book, 39 min ago	2.62 bp	11.8 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 32 min ago	8.28 bp	18.8 bp −$19	184.6 bp −$1,846	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	−0.0182%	4h	1.1452	+0.044%	$6.8M	$136K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0131%	1h	1.1449	+0.015%	$3K	—	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1474	+0.234%	$579K	$311K	100x	as long as short
Gate EURUSD_USDTshort	0.0000%	8h	1.1463	+0.140%	$143K	$3K	100x
Bitget EURUSDUSDT	0.0000%	8h	1.1472	+0.218%	$263K	$25K	100x	as long as short
Nado EURUSD-PERP	0.0000%	1h	1.1450	+0.026%	$466K	$158K	40x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1446	−0.009%	$246K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1458	+0.096%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1461	+0.122%	$13K	$273K	20x	as long as short
Lighter EURUSD	+0.0024%	1h	1.1454	+0.063%	$2.1M	$537K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1446	−0.010%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	+0.169%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1479	+0.278%	—	$224K	100x	as long as short
Pacifica EURUSDlong	+0.0100%	1h	1.1447	long leg	$191K	$60K	50x
Aevo EURUSD-PERP	+0.0104%	1h	1.1454	+0.060%	$12K	—	10x	as long as short
Hibachi EUR/USDT-P	+0.0280%	1h	1.1457	+0.090%	$169K	$8.4M	30x	as long as short
Hotstuff EURUSD-PERP	+0.0320%	1h	1.1457	+0.087%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0358%	1h	1.1457	+0.087%	$23.2M	$1.7M	50x	as long as short