Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0714%/8h= −78.2% APRpaid last 24h −0.100%

Price spread now: Bybit against Arcus−0.018%7-day average −0.059% · 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−$28as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.343%−$34 on $10k

Price spread, last 7 days+0.018%+$2 · spread now −0.018%, 7d avg −0.059%

Together, before fees−0.324%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.041% dearer against Arcus than usual: you sell high and buy low (spread −0.018% now, against its 7-day average of −0.059%): +$4 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 4 days (−0.343% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.3440	0.0814	pay 0.0102% / 1h	20m 03s	$225K	$1.6M	10x
Short	Bybit NEARUSDT	4.3432	0.0100	get 0.0100% / 8h	2h 20m	$216.9M	$420.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$149.95
Price spread: −0.018% → −0.059%: $4.09
Slippage, 4 orders: −$16.1
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$177.46
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Arcus: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	3.49 bp	6.9 bp −$7	11.0 bp −$110	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.16 bp	10.8 bp −$11	15.8 bp −$158	36.9 bp −$3,695	143.0 bp −$71.5K

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	4.3394	−0.105%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3282	−0.363%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3389	−0.118%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.673%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3390	−0.115%	$114K	$497K	50x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.3432	−0.018%	$216.9M	$420.4M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3440	0.000%	$61.1M	$288.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3050	−0.898%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3437	−0.007%	$32.9M	$60.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3460	+0.046%	$78.0M	$144.9M	200x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3460	+0.046%	$52.5M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3442	+0.005%	$71.8M	$127.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3450	+0.023%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3197	−0.558%	$8.4M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3029	−0.947%	$259K	$956K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3062	−0.869%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3409	−0.071%	$266K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3454	+0.032%	$57K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3510	+0.161%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3550	+0.253%	$469K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3460	+0.046%	$3.6M	$8.3M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3500	+0.138%	$266.2M	$1.08B	75x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3391	−0.113%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3456	+0.037%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3270	−0.391%	$13.4M	$31.7M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3480	+0.092%	$2.3M	$16.2M	50x	as long as short
Kalshi KXNEARPERP	+0.0298%	8h	4.3399	−0.094%	$941K	$24.6M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0312% / S −0.0201%	1h	4.3384	−0.130%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3480	+0.092%	$2.8M	$5.3M	50x	as long as short
ApeX Omni NEARUSDT	+0.0346%	1h	4.3030	−0.944%	$165K	$795K	50x	as long as short
Nado NEAR-PERP	+0.0385%	1h	4.3395	−0.104%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0520%	1h	4.3406	−0.078%	$3.7M	$19.6M	25x	as long as short
SoDEX NEAR-USD	+0.0580%	1h	4.3425	−0.035%	$6K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0663%	1h	4.3478	+0.087%	$356.2M	$309.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0685%	1h	4.3478	+0.087%	$1.3M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0728%	1h	4.3421	−0.044%	$7.4M	$38.9M	50x	as long as short
01 Exchange NEARUSD	+0.0744%	1h	4.3453	+0.030%	$13K	$7K	10x	as long as short
Arcus NEAR-USDlong	+0.0814%	1h	4.3440	long leg	$225K	$1.6M	10x
Pacifica NEAR	+0.0847%	1h	4.3339	−0.233%	$397K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.3497	+0.132%	$17.0M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3267	−0.398%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.3515	+0.173%	$1.5M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3436	−0.008%	$693K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1340%	1h	4.3060	−0.876%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1501%	1h	4.3475	+0.081%	$1.9M	$11.2M	25x	as long as short