Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.181%

Price spread now: Arcus against Bulk−0.017%7-day average +0.063% · 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−$50as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on Bulk Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.319%+$32 on $10k

Price spread, last 4 days (all we have)−0.246%−$25 · spread now −0.017%, 7d avg +0.063%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.080% cheaper against Bulk than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk NEAR-USD	4.2757	0.0100	pay 0.0013% / 1h	2m 13s	$244K	$2K	10x
Short	Arcus NEAR-USD	4.2750	0.0100	get 0.0013% / 1h	2m 13s	$196K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bulk. 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 BulkbpFee ArcusbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.063%: −$7.96
Slippage, 4 orders: −$30.44
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$49.9
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from Bulk: live order book, 12 min ago; Arcus: 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 Bulk live order book, 12 min ago	11.72 bp	15.2 bp −$15	15.2 bp −$152	34.3 bp −$3,434	65.7 bp −$32.9K
Sell Arcus live order book, 2 min ago	3.50 bp	5.7 bp −$6	11.3 bp −$113	doesn't fit	doesn't fit

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	4.2659	−0.229%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2786	+0.067%	$2.2M	$13.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2809	+0.121%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2746	−0.026%	$391K	$18.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2744	−0.030%	$203K	—	150x	as long as short
Variational Omni NEAR	+0.0032%	8h	4.2749	−0.019%	$7.8M	$18.5M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.151%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0037%	8h	4.2720	−0.087%	$217.4M	$421.8M	75x	as long as short
01 Exchange NEARUSD	+0.0064%	1h	4.2726	−0.073%	$13K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2690	−0.157%	$110K	$496K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.2754	−0.008%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2684	−0.172%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2766	+0.020%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2793	+0.084%	$401K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2750	−0.017%	$253.3M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2730	−0.064%	$60.7M	$285.9M	50x	as long as short
Arcus NEAR-USDshort	+0.0100%	1h	4.2750	−0.017%	$196K	$1.8M	10x
Bulk NEAR-USDlong	+0.0100%	1h	4.2757	long leg	$244K	$2K	10x
Gate NEAR_USDT	+0.0100%	8h	4.2717	−0.094%	$30.8M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2750	−0.017%	$79.1M	$142.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2750	−0.017%	$55.8M	$43.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2722	−0.082%	$70.8M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2720	−0.087%	—	$140.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2741	−0.037%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2826	+0.160%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2820	+0.147%	$179K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2692	−0.153%	$194K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2800	+0.100%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2745	−0.029%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2750	−0.017%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2709	−0.112%	$3.8M	$16.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2741	−0.038%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2769	+0.027%	$7.6M	$37.4M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2780	+0.053%	$13.0M	$29.3M	75x	as long as short
Lighter RH NEAR	+0.0336%	1h	4.2812	+0.128%	$1.6M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0316%	1h	4.2751	−0.015%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2715	−0.099%	$418K	$1.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0405%	1h	4.2786	+0.067%	$1.9M	$2.8M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0450%	1h	4.2876	+0.278%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2887	+0.303%	$1.8M	$2.7M	10x	as long as short
Hyperliquid NEAR	+0.0588%	1h	4.2738	−0.045%	$364.1M	$301.3M	10x	as long as short
Nado NEAR-PERP	+0.0655%	1h	4.2690	−0.157%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0739%	8h	4.2820	+0.147%	$457K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1189%	1h	4.2798	+0.095%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1784%	1h	4.2880	+0.286%	$16.9M	$24.7M	15x	as long as short