Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: HTX against Lighter−0.011%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

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

costs, in and out, $10k−$640.640% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now −0.011%, 7d avg −0.097%

Together, before fees−0.030%+ Points / potential airdropLighter: Season 3 · farm board−$3 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: HTX is 0.086% dearer against Lighter than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EURUSD	1.1485	0	get 0.0000% / 1h	37m 12s	$2.1M	$415K	50x
Short	HTX EURUSD-USDT	1.1484	0	get 0.0000% / 1h	37m 12s	$12K	$264K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter. 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 LighterbpFee HTXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.097%: $8.59
Slippage, 4 orders: −$52.05
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$55.46
Costs to cover: 0.640%
Break-even: never at this rate

Slippage from Lighter: live order book, 10 min ago; HTX: live order book, 15 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 Lighter live order book, 10 min ago	1.44 bp	4.3 bp −$4	12.1 bp −$121	66.3 bp −$6,632	doesn't fit
Sell HTX live order book, 15 min ago	6.97 bp	31.3 bp −$31	doesn't fit	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
Hibachi EUR/USDT-P	−0.0216%	1h	1.1472	−0.117%	$169K	$8.3M	30x	as long as short
Kraken Futures PF_EURUSD	−0.0179%	1h	1.1474	−0.100%	$3K	—	50x	as long as short
MEXC EUR_USDT	−0.0148%	4h	1.1479	−0.055%	$6.8M	$133K	100x	as long as short
Lighter EURUSDlong	0.0000%	1h	1.1485	long leg	$2.1M	$415K	50x
Bybit EURUSDUSDT	0.0000%	8h	1.1480	−0.044%	$585K	$223K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1479	−0.055%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1478	−0.064%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1475	−0.090%	$198K	$73K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1482	−0.029%	—	$2.4M	10x	as long as short
HTX EURUSD-USDTshort	0.0000%	1h	1.1484	−0.011%	$12K	$264K	20x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado EURUSD-PERP	+0.0014%	1h	1.1478	−0.063%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1475	−0.088%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.165%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1507	+0.188%	—	$265K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1478	−0.064%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1482	−0.028%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0144%	1h	1.1482	−0.029%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0186%	1h	1.1482	−0.029%	$23.3M	$1.7M	50x	as long as short