Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Bybit against Extended+0.056%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 4 days (all we have)+0.015%+$2 · spread now +0.056%, 7d avg +0.035%

Together, before fees−0.297%+ Points / potential airdropExtended: Active · farm board−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.021% dearer against Extended than usual: you sell high and buy low (spread +0.056% now, against its 7-day average of +0.035%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 7 days (−0.313% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended EUR-USD	1.1474	0.0032	pay 0.0004% / 1h	12m 30s	$6.7M	$1.3M	100x
Short	Bybit EURUSDUSDT	1.1480	0	get 0.0000% / 8h	4h 12m	$585K	$223K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$6.72
Price spread: +0.056% → +0.035%: $2.11
Slippage, 4 orders: −$23.07
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.68
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Bybit: live order book, 38 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 Extended live order book, 1 min ago	0.17 bp	2.7 bp −$3	6.8 bp −$68	doesn't fit	doesn't fit
Sell Bybit live order book, 38 min ago	4.49 bp	10.0 bp −$10	33.1 bp −$331	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	−0.0158%	4h	1.1477	+0.028%	$6.8M	$135K	100x	as long as short
Hibachi EUR/USDT-P	−0.0104%	1h	1.1472	−0.017%	$166K	$8.2M	30x	as long as short
Kraken Futures PF_EURUSD	−0.0062%	1h	1.1473	−0.008%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0008%	1h	1.1477	+0.028%	$467K	$153K	40x	as long as short
Bybit EURUSDUSDTshort	0.0000%	8h	1.1480	+0.056%	$585K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1478	+0.037%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1477	+0.028%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1474	+0.002%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1481	+0.063%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1480	+0.054%	$13K	$263K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter EURUSD	+0.0008%	1h	1.1484	+0.088%	$2.1M	$435K	50x	as long as short
Extended EUR-USDlong	+0.0032%	1h	1.1474	long leg	$6.7M	$1.3M	100x
Injective EURUSD/USDC PERP	+0.0039%	1h	1.1466	−0.064%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1506	+0.277%	—	$264K	100x	as long as short
Hotstuff EURUSD-PERP	+0.0056%	1h	1.1481	+0.063%	$33K	—	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1478	+0.037%	$190K	$61K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1481	+0.063%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0123%	1h	1.1481	+0.063%	$23.3M	$1.8M	50x	as long as short