Funding arb · Price arb /

EUR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.002%

Price spread now: Bitget against Nado+0.086%7-day average +0.018% · 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−$11as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on Nado Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.137%−$14 · spread now +0.086%, 7d avg +0.018%

Together, before fees−0.152%+ Points / potential airdropNado: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.068% dearer against Nado than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of +0.018%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.0 days. At the pace of the last 4 days (−0.015% in total) that is about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado EURUSD-PERP	1.1466	0.0046	pay 0.0006% / 1h	46m 12s	$467K	$159K	40x
Short	Bitget EURUSDUSDT	1.1476	0	get 0.0000% / 8h	46m 12s	$263K	$25K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$9.6
Price spread: +0.086% → +0.018%: $6.85
Slippage, 4 orders: −$4.59
Fee Nado: 0.7 bp × 2 orders: −$1.4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$20.74
Costs to cover: 0.180%
Break-even: never at this rate

Slippage from Nado: live order book, 57 min ago; Bitget: live order book, 49 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, 57 min ago	0.92 bp	3.4 bp −$3	4.3 bp −$43	doesn't fit	doesn't fit
Sell Bitget live order book, 49 min ago	0.44 bp	6.4 bp −$6	12.6 bp −$126	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	−0.0306%	4h	1.1466	−0.001%	$6.8M	$133K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0020%	1h	1.1464	−0.020%	$3K	—	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1479	+0.109%	$579K	$311K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1476	+0.086%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDTshort	0.0000%	8h	1.1476	+0.086%	$263K	$25K	100x
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1460	−0.053%	$198K	$73K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1472	+0.051%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1472	+0.051%	$13K	$272K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1462	−0.033%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	+0.002%	$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	1.1495	+0.249%	—	$241K	100x	as long as short
Nado EURUSD-PERPlong	+0.0046%	1h	1.1466	long leg	$467K	$159K	40x
Pacifica EURUSD	+0.0100%	1h	1.1468	+0.016%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1473	+0.060%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0224%	1h	1.1473	+0.060%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0232%	1h	1.1465	−0.012%	$163K	$8.3M	30x	as long as short
tradeXYZ xyz:EUR	+0.0258%	1h	1.1472	+0.051%	$23.2M	$1.6M	50x	as long as short
Lighter EURUSD	+0.0368%	1h	1.1475	+0.078%	$2.1M	$432K	50x	as long as short