Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: Lighter against Orderly+0.082%7-day average +0.091% · you sell dearer than you buy

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.315%−$32 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now +0.082%, 7d avg +0.091%

Together, before fees−0.299%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EURUSD_USDC	1.1469	0	get 0.0000% / 8h	6h 56m	$198K	$111K	50x
Short	Lighter EURUSD	1.1478	0	get 0.0000% / 1h	56m 04s	$2.1M	$441K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.091%: −$0.91
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.91
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 6 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 Lighter live order book, 6 min ago	1.31 bp	4.4 bp −$4	9.4 bp −$94	46.0 bp −$4,597	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
Kraken Futures PF_EURUSD	−0.0211%	1h	1.1470	+0.007%	$3K	—	50x	as long as short
MEXC EUR_USDT	−0.0140%	4h	1.1472	+0.026%	$6.8M	$138K	100x	as long as short
Lighter EURUSDshort	0.0000%	1h	1.1478	+0.082%	$2.1M	$441K	50x
Bybit EURUSDUSDT	0.0000%	8h	1.1470	+0.009%	$584K	$279K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1476	+0.061%	$142K	$4K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1473	+0.035%	$251K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDClong	0.0000%	8h	1.1469	long leg	$198K	$111K	50x
SunX EURUSD-USDT	0.0000%	1h	1.1478	+0.078%	—	$2.5M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1479	+0.087%	$12K	$258K	20x	as long as short
Nado EURUSD-PERP	+0.0027%	1h	1.1472	+0.026%	$467K	$175K	40x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1469	0.000%	$6.7M	$1.3M	100x	as long as short
Hibachi EUR/USDT-P	+0.0032%	1h	1.1469	+0.003%	$160K	$8.3M	30x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1470	+0.012%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1501	+0.276%	—	$264K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1469	+0.004%	$190K	$126K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1477	+0.070%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0210%	1h	1.1478	+0.078%	$23.2M	$1.9M	50x	as long as short
Hotstuff EURUSD-PERP	+0.0224%	1h	1.1478	+0.078%	$33K	—	50x	as long as short