Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0361%/8h= −39.5% APRpaid last 24h −0.073%

Price spread now: BloFin against Arcus−0.291%95s7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.407% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.187%−$19 on $10k

Price spread, last 4 days (all we have)+0.702%+$70 · spread now −0.291%, 7d avg −0.073%

Together, before fees+0.516%+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and BloFin is 0.218% cheaper against Arcus than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.073%). Swap the legs. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.4680	0.0581	pay 0.0073% / 1h	41m 44s	$221K	$1.8M	10x
Short	BloFin NEAR-USDT	4.4550	0.0220	get 0.0220% / 8h	4h 41m	$14.1M	$33.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Arcus. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ArcusbpFee BloFinbpOrdersPrice spread, now −0.291%Rate

Funding earned: −$75.78
Price spread: −0.291% → −0.073%: −$21.75
Slippage, 4 orders: −$24.18
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$138.21
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from Arcus: live order book, 2 min ago; BloFin: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Arcus live order book, 2 min ago	2.24 bp	5.2 bp −$5	9.4 bp −$94	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	8.96 bp	15.0 bp −$15	18.0 bp −$180	39.8 bp −$3,983	107.3 bp −$53.6K

NEAR on 45 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya NEARRUSDPERP	−0.0171%	1h	4.4555	−0.280%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4653	−0.060%	$2.2M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4584	−0.215%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4620	−0.134%	$621K	$22.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4559	−0.270%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.319%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4600	−0.179%	$118K	$518K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4596	−0.189%	$426K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4617	−0.142%	$272.8M	$1.11B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4600	−0.179%	$223.4M	$425.1M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4570	−0.246%	$63.4M	$302.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	−0.291%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4581	−0.222%	$32.3M	$63.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4610	−0.157%	$75.2M	$147.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4620	−0.134%	$55.4M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4577	−0.231%	$73.3M	$130.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4590	−0.201%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4367	−0.701%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4481	−0.446%	$267K	$979K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4375	−0.684%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4230	−1.007%	$170K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4594	−0.192%	$241K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4620	−0.134%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4750	+0.157%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4600	−0.179%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4730	+0.112%	$466K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4590	−0.201%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4587	−0.209%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4621	−0.131%	$207K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0190%	1h	4.4621	−0.132%	$368.5M	$327.0M	10x	as long as short
Extended NEAR-USD	+0.0192%	1h	4.4564	−0.260%	$4.0M	$19.6M	25x	as long as short
BloFin NEAR-USDTshort	+0.0220%	8h	4.4550	−0.291%	$14.1M	$33.2M	75x
Backpack NEAR_USDC_PERP	+0.0220%	1h	4.4616	−0.143%	$1.4M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.4612	−0.152%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0301%	8h	4.4630	−0.112%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0339% / S −0.0217%	1h	4.4558	−0.273%	$249K	—	100x	as long as short
Lighter RH NEAR	+0.0456%	1h	4.4677	−0.007%	$1.6M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0503%	1h	4.4533	−0.328%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USDlong	+0.0581%	1h	4.4680	long leg	$221K	$1.8M	10x
Kraken Futures PF_NEARUSD	+0.0582%	1h	4.4611	−0.155%	$8.3M	$40.2M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0625%	1h	4.4625	−0.123%	$2.0M	$6.8M	25x	as long as short
Lighter NEAR	+0.0712%	1h	4.4678	−0.005%	$18.0M	$26.2M	15x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4521	−0.356%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4621	−0.132%	$564K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1563%	1h	4.4617	−0.140%	$6K	$12K	10x	as long as short