Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against Orderly−0.092%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.092% cheaper against Orderly than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 9.2 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.272%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EURUSD_USDC	1.1477	0	get 0.0000% / 8h	2h 44m	$198K	$73K	50x
Short	Injective EURUSD/USDC PERP	1.1466	0.0033	get 0.0004% / 1h	44m 35s	$9K	$78K	101x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.092%Rate

Funding earned: $7
Price spread: −0.092% → 0.000%: −$9.24
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$8.26
Costs to cover: 0.060%
Break-even: 15.3 days

Slippage unknown: Orderly: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Orderly and Injective: 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
MEXC EUR_USDT	−0.0326%	4h	1.1480	+0.026%	$6.8M	$133K	100x	as long as short
Hibachi EUR/USDT-P	−0.0224%	1h	1.1476	−0.009%	$164K	$8.3M	30x	as long as short
Kraken Futures PF_EURUSD	−0.0132%	1h	1.1475	−0.018%	$3K	—	50x	as long as short
Lighter EURUSD	0.0000%	1h	1.1487	+0.089%	$2.1M	$412K	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1482	+0.048%	$585K	$223K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1481	+0.035%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1480	+0.026%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDClong	0.0000%	8h	1.1477	long leg	$198K	$73K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1483	+0.052%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1482	+0.044%	$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
Nado EURUSD-PERP	+0.0012%	1h	1.1480	+0.026%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1477	+0.002%	$6.8M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERPshort	+0.0033%	1h	1.1466	−0.092%	$9K	$78K	101x
Vest EUR-USD-PERP	+0.0046%	1h	1.1509	+0.281%	—	$265K	100x	as long as short
Hotstuff EURUSD-PERP	+0.0088%	1h	1.1483	+0.052%	$33K	—	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1477	+0.003%	$191K	$63K	50x	as long as short
tradeXYZ xyz:EUR	+0.0103%	1h	1.1483	+0.052%	$23.3M	$1.6M	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1484	+0.064%	$12K	—	10x	as long as short