Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Orderly+0.051%7-day average +0.008% · you sell dearer than you buy

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

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.550%−$55 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.051%, 7d avg +0.008%

Together, before fees−0.578%−$58 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: Bybit is 0.042% dearer against Orderly than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EURUSD_USDC	1.1476	0	get 0.0000% / 8h	3h 13m	$198K	$73K	50x
Short	Bybit EURUSDUSDT	1.1482	0	get 0.0000% / 8h	3h 13m	$585K	$223K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → +0.008%: $4.21
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$12.79
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 31 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 Bybit live order book, 31 min ago	3.92 bp	13.0 bp −$13	34.9 bp −$349	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
Hibachi EUR/USDT-P	−0.0240%	1h	1.1473	−0.027%	$175K	$8.3M	30x	as long as short
Kraken Futures PF_EURUSD	−0.0179%	1h	1.1474	−0.018%	$3K	—	50x	as long as short
MEXC EUR_USDT	−0.0172%	4h	1.1479	+0.026%	$6.8M	$134K	100x	as long as short
Lighter EURUSD	0.0000%	1h	1.1486	+0.089%	$2.1M	$415K	50x	as long as short
Bybit EURUSDUSDTshort	0.0000%	8h	1.1482	+0.051%	$585K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1480	+0.035%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1478	+0.017%	$253K	$21K	100x	as long as short
Orderly PERP_EURUSD_USDClong	0.0000%	8h	1.1476	long leg	$198K	$73K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1482	+0.052%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1482	+0.052%	$13K	$264K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado EURUSD-PERP	+0.0009%	1h	1.1480	+0.031%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1477	+0.004%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.084%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1508	+0.281%	—	$265K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1477	+0.010%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1483	+0.057%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0120%	1h	1.1481	+0.044%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0170%	1h	1.1481	+0.044%	$23.3M	$1.6M	50x	as long as short