EUL arbitrage between Astar DEX and Kraken: we compare the price of EUL on Astar DEX (futures) and Kraken (spot) in real time — the executable spread (buy at the ask, sell at the bid), basis, volume and deposit/withdrawal status. You can see whether the gap holds or is a one-second blip you would never get into.

About Euler

The ability to lend and borrow assets efficiently is a crucial feature of any financial system. In the world of traditional finance, this process is typically facilitated by trusted and permissioned third-parties such as banks, who connect people with a surplus of money to those who need access to it in the short term. In the world of decentralised finance (DeFi), trusted and permissioned third-parties are no longer needed; banks have been replaced by trustless and permissionless lending protocols running on the blockchain (1). Among the first-generation of DeFi lending protocols are Compound (2) and Aave (3). These protocols provide users with access to lending and borrowing capabilities for a handful of the most liquid ERC20 tokens.…

BNB Chain Ecosystem, Lending/Borrowing Protocols, Avalanche Ecosystem, Arbitrum Ecosystem

Open interest in EUL right now — $17.7M: Binance $5.8M, BingX $5.6M, Bybit $3.2M, Bitget $1.9M, KuCoin $1.1M. See OI EUL.

About EUL arbitrage

How do I read the EUL spread?

The spread is how many percent higher EUL trades on one exchange than on the other. We measure it at tradeable prices (ask/bid) net of fees; “net” is closer to what you actually keep.

Is this arbitrage worth taking?

Look past the spread: check volume, order-book depth and the deposit/withdrawal status on Astar DEX and Kraken. If deposits or withdrawals are shut, or the book is thin, the spread exists on paper but you cannot trade into it.

How do I get EUL alerts?

Build a rule in the the builder with the spread threshold you want — the notification arrives as a Telegram direct message within seconds.