you might find it easier to trade a term spread out to 2 years - the 13wk futures dont see much activity usually.
there are a few ways to trade the TED, but basically you gotta trade the differences in yields between a 2 yr and an equivalent synthestic bond made up from 8 sequential STIRS
if you use Eurodollars, you should decide whether you want to use an unweighted or weighted GE Strip... in these conditions, I'd suggest a weighted strip as you get the credit spread and don;t have to worry about any changes in the yield curve...
also, how do you want to measure it? Implied GE yield vs Treasury yield, or fixed BP spread to a GE futures rate? It matter how you contrust the trade...
although, really, if you have to ask how to do it, you shouldnt really trade it.
