Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.001%

Price spread now: Nado against Bybit−0.100%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.227%+$23 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.100%, 7d avg −0.094%

Together, before fees+0.350%+ Points / potential airdropNado: Active · farm board+$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.094%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.227%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EURUSDUSDT	1.1480	0	get 0.0000% / 8h	6h 06m	$624K	$349K	100x
Short	Nado EURUSD-PERP	1.1468	−0.0032	pay 0.0004% / 1h	6m 16s	$191K	$301K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. 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 BybitbpFee NadobpOrdersPrice spread, now −0.100%Rate

Funding earned: −$6.77
Price spread: −0.100% → −0.094%: −$0.61
Slippage, 4 orders: −$20.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 0.7 bp × 2 orders: −$1.4
Net: −$40.61
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Bybit: live order book, 41 min ago; Nado: live order book, 44 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 Bybit live order book, 41 min ago	3.66 bp	12.5 bp −$12	44.1 bp −$441	doesn't fit	doesn't fit
Sell Nado live order book, 44 min ago	1.13 bp	2.2 bp −$2	3.0 bp −$30	doesn't fit	doesn't fit

EUR on 18 exchanges

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
Kraken Futures PF_EURUSD	−0.0140%	1h	1.1460	−0.170%	$3K	—	50x	as long as short
MEXC EUR_USDT	−0.0112%	4h	1.1465	−0.128%	$6.8M	$143K	100x	as long as short
Nado EURUSD-PERPshort	−0.0032%	1h	1.1468	−0.100%	$191K	$301K	40x
Lighter EURUSD	0.0000%	1h	1.1474	−0.050%	$2.1M	$520K	50x	as long as short
Bybit EURUSDUSDTlong	0.0000%	8h	1.1480	long leg	$624K	$349K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1466	−0.119%	$144K	$3K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1463	−0.145%	$247K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1469	−0.093%	—	$1.7M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1469	−0.093%	$12K	$271K	20x	as long as short
Bitget EURUSDUSDT	+0.0014%	8h	1.1471	−0.076%	$263K	$27K	100x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1464	−0.133%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.116%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1494	+0.127%	—	$202K	100x	as long as short
tradeXYZ xyz:EUR	+0.0083%	1h	1.1468	−0.102%	$23.2M	$2.0M	50x	as long as short
Hotstuff EURUSD-PERP	+0.0096%	1h	1.1472	−0.067%	$33K	—	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1464	−0.133%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1468	−0.103%	$12K	—	10x	as long as short
Hibachi EUR/USDT-P	+0.0416%	1h	1.1464	−0.135%	$151K	$8.1M	30x	as long as short