interest hedge strategy - futures and forex

yeah it is! you are talking about old-school text-book arb, as classic as it comes

You can trade futures and forex through VCAP as well. I think there are several brokers that allow this. If you're trading client funds you'll have to be a CTA if in the US.
VCAP allows offsetting forex with futures contracts for an extra fee. I still don't know what this fee is.
Considering arbing the two instruments if you are arbing majors around news events there is a significant profit potential as futures spike extremely fast and forex spikes much slower. Gaps are present in both markets but much different gaps prevail as forex is fragmented and futures is a solid central marketplace. One could make the comparison that futures are like working on one server while forex is like working between 8 servers. These 8 servers have latancy while talking between each other.
If you were to hedge in the arb as an interest positive position on forex you could essentially pay for the forex trade by getting into the futures at a much cheaper premium during numbers. It would take some work/studies and a server with FIX API access to both markets. There is no doubt in my mind this is going on right now during numbers but I think the major money is being made instantly and not considering swap. I've said it before...You can earn 2 pips of Swap a day trading GBPJPY or you could scalp 2 pips a day of GBPJPY. Which is easier?
I commend your efforts and I'm watching this thread. IB sounds like a good place to start.
In the US your account will be domiciled on the futures side with a cross funding agreement to fund forex from the futures account. Not many brokers allow this simply because the backoffice time/money is much greater on the futures side. So the broker is making less money on your forex trades essentially. It can be done make no doubt it can be done. The benefit is if the forex dealer/enumerated counterparty/FCM goes under your funds domiciled in the futures side are protected/segregated from the bankrupt counterparty.

Here is a formula example to calculate the Futures price and
compare it to the quoted futures price according to an idea
from a forum member, TheEconomist.

Calculated EUR/USD Futures = Spot X (1+ USD yield% until
Futures expiry) / (1+ EUR yield% until Futures expiry)

hi folks,

so if I understand you guys the spot and futures work out the same interest-wise.

at the moment EUR/USD is a difference of about 40 pips.

so you buy spot EUR/USD and receive interest daily and until the futures contract expires in September, you receive basicly 40 pips in interest if your forex broker would give you the full interest differential on this pair.

so in September these prices are still about 40 pips different.

but maybe I`m wrong????????