Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.240%

Price spread now: Arcus against Orderly+0.197%7-day average +0.082% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.320%+$32 on $10k

Price spread, last 3 days (all we have)−0.679%−$68 · spread now +0.197%, 7d avg +0.082%

Together, before fees−0.359%−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.114% dearer against Orderly than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.1169	0.0100	pay 0.0100% / 8h	2h 22m	$53K	$159K	20x
Short	Arcus NEAR-USD	4.1250	0.0118	get 0.0015% / 1h	22m 09s	$306K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Orderly. 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 OrderlybpFee ArcusbpOrdersPrice spread, now +0.197%Rate

Funding earned: $3.88
Price spread: +0.197% → +0.082%: $11.43
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $4.81
Costs to cover: 0.105%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Arcus: live order book, 2 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Arcus live order book, 2 min ago	3.64 bp	7.1 bp −$7	12.9 bp −$129	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.1188	+0.045%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1282	+0.274%	$2.1M	$12.6M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1213	+0.108%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1211	+0.102%	$411K	$19.0M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.1179	+0.024%	$1.8M	$2.1M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1184	+0.036%	$204K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.585%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1220	+0.124%	$108K	$489K	50x	as long as short
Orderly PERP_NEAR_USDClong	+0.0100%	8h	4.1169	long leg	$53K	$159K	20x
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1222	+0.128%	$30K	$647	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.1227	+0.142%	$2.9M	$5.9M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1230	+0.147%	$365K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1163	−0.015%	$234.4M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1133	−0.087%	$209.3M	$428.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1140	−0.070%	$56.2M	$274.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1550	+0.925%	$237K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1202	+0.080%	$29.3M	$58.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1170	+0.002%	$80.8M	$144.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1180	+0.027%	$55.6M	$45.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1146	−0.056%	$68.4M	$127.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1180	+0.027%	—	$136.5M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1444	+0.667%	$7.7M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1419	+0.606%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1420	+0.610%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1420	+0.610%	$182K	$790K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1226	+0.138%	$208K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1250	+0.197%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1156	−0.032%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1170	+0.002%	$3.8M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1128	−0.100%	$3.7M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1158	−0.028%	$199K	$65K	3x	as long as short
Arcus NEAR-USDshort	+0.0118%	1h	4.1250	+0.197%	$306K	$1.6M	10x
Kraken Futures PF_NEARUSD	+0.0151%	1h	4.1164	−0.012%	$7.0M	$36.6M	50x	as long as short
01 Exchange NEARUSD	+0.0208%	1h	4.1238	+0.168%	$12K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1330	+0.391%	$12.2M	$33.7M	75x	as long as short
Lighter RH NEAR	+0.0296%	1h	4.1210	+0.100%	$1.4M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0361%	1h	4.1207	+0.093%	$1.8M	$3.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0317%	1h	4.1202	+0.079%	$272K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1246	+0.188%	$411K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1398	+0.556%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0770%	1h	4.1207	+0.092%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0840%	1h	4.1225	+0.137%	$15.2M	$23.0M	15x	as long as short
Hyperliquid NEAR	+0.0977%	1h	4.1269	+0.243%	$346.4M	$299.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.0997%	1h	4.1384	+0.523%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1101%	8h	4.1330	+0.391%	$444K	$3.7M	75x	as long as short