I have been wondering if it’s possible to create or synthesize pairs such as the following

- EURUSD - GBPUSD
- EURUSD + GBPUSD
- EURUSD ÷ GBPUSD
- EURUSD × GBPUSD

I am actually curious to know if there is a possibility of synthesizing a pair or instrument that is bounded above and below such the following

(EURUSD - GBPUSD)/(EURUSD + GBPUSD) which is bounded between -1 & 1. This is just one example in many.

Given the possibility of such a virtual instrument one would just buy it when it’s close to the lower bound (in this case -1) and sell close to the upper bound (in this case +1).