Have several thousand CAD in a Canadian bank. Interested in hedging against USD. Not a speculative interest.

I have not hedged at this point as fx dealers typically handle 20:1 transactions or greater leverage, which means my $3500 CAD is a joke to them. Lowest overnight interest rate spread for something small like this that I've seen is 300 basis points above market.

I understand interest rates for each currency differ but am not interested in paying large overnight premiums since this would be a relatively long, ongoing fx hedge. Fine with paying/receiving the currency interest rates but not okay with huge premiums to these rates (where overnight holding becomes very costly).

This is a small position so I'm not too concerned but it'd still be nice to do. Doubt anyone will have an answer but curious to hear.

Also, does anyone know a way to open a bank account in Europe that will hold EUR but without any address verification / with only a visitor VlSA. Due to anti money laundering laws I doubt it but still curious.