Gareth Davies(@garethtdavies):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: Official data: https://t.co/KwMBnGNTOV Research: https://t.co/2K82pVeWQV Arb Flow Tracker: https://t.co/RRAMBpdZG9 Original article:

2026.08.27 18:26

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: Official data: Research: Arb Flow Tracker: Original article: