Arbitrage with CrossEx makes locking cross-venue funding spreads trivial.
But every lock still needs a counterparty. The more sophisticated relative-value trade may be on the other side. Use historical funding spreads to identify compression, then position for them to widen again through a two-leg Boros spread rather than funding the full four-leg arb.
For traders who cannot access every venue, that structure can be far more capital-efficient, with potentially much higher ROE (and real spread risk).
The tooling now exists to research, price, and execute it:
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Research:
Arb Flow Tracker:
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