The currency spot rate is $1.31 per euro. If dollar denominated interest rates are 3.0% and euro denominated interest rates are 5.0%, if you observe the 1-year forward rate is 1.36$/euro, you would set up the arbitrage position by __the forward, _ $ risk-free asset, $ at current spot rate, long Euro risk-free asset. long, short, sell long, short, buy short, long, sell short, short, sell