Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1482%/8h= +162.3% APRpaid last 24h +0.332%

Price spread now: Aftermath Perps against Variational Omni−0.399%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Aftermath Perps is 0.399% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.399% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$40 on $10k: about 22 hours of funding at the current rate (+$44 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NEAR	4.5068	0.0100	pay 0.0100% / 8h	4h 51m	$8.7M	$18.2M	—
Short	Aftermath Perps NEARUSD	4.4888	0.1582	get 0.0198% / 1h	51m 34s	$6K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Variational Omni. 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 Variational OmnibpFee Aftermath PerpsbpOrdersPrice spread, now −0.399%Rate

Funding earned: $311.32
Price spread: −0.399% → 0.000%: −$39.85
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $262.47
Costs to cover: 0.090%
Break-even: 1.1 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Aftermath Perps: no order-book sample. 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 Variational Omni RFQ quote, 3 min ago	3.82 bp	doesn't fit	12.1 bp −$121	29.2 bp −$2,924	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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	4.4797	−0.600%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4675	−0.871%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4796	−0.603%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4871	−0.436%	$618K	$22.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4818	−0.553%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.116%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4830	−0.527%	$118K	$516K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4827	−0.533%	$426K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4837	−0.513%	$274.9M	$1.11B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4820	−0.549%	$224.6M	$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	4.4800	−0.594%	$64.1M	$305.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5100	+0.072%	$257K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4798	−0.598%	$32.3M	$62.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4850	−0.483%	$77.1M	$146.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4860	−0.461%	$55.5M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4812	−0.567%	$73.7M	$130.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4810	−0.572%	—	$6.6M	—	as long as short
Variational Omni NEARlong	+0.0100%	8h	4.5068	long leg	$8.7M	$18.2M	—
edgeX NEARUSDC	+0.0100%	4h	4.4912	−0.345%	$269K	$977K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4926	−0.315%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4950	−0.261%	$173K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4834	−0.518%	$235K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4693	−0.831%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4980	−0.194%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4685	−0.849%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4830	−0.527%	$466K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4730	−0.749%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4785	−0.627%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4705	−0.804%	$208K	$40K	3x	as long as short
Extended NEAR-USD	+0.0216%	1h	4.4775	−0.649%	$4.0M	$19.6M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4930	−0.305%	$14.2M	$33.7M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0272%	1h	4.4767	−0.667%	$1.4M	$6.7M	20x	as long as short
Aster NEARUSDT	+0.0304%	8h	4.4831	−0.524%	$3.1M	$5.6M	50x	as long as short
01 Exchange NEARUSD	+0.0312%	1h	4.4813	−0.565%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0355% / S −0.0243%	1h	4.4734	−0.740%	$266K	—	100x	as long as short
Hyperliquid NEAR	+0.0373%	1h	4.4866	−0.447%	$371.9M	$325.0M	10x	as long as short
Nado NEAR-PERP	+0.0494%	1h	4.4783	−0.631%	$1.9M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0576%	1h	4.4866	−0.447%	$1.6M	$7.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4850	−0.483%	$222K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0581%	1h	4.4695	−0.827%	$8.3M	$40.3M	50x	as long as short
Lighter NEAR	+0.0744%	1h	4.4886	−0.404%	$18.1M	$26.1M	15x	as long as short
Phoenix NEAR	+0.0794%	1h	4.5018	−0.110%	$1.9M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4842	−0.502%	$566K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1383%	1h	4.4780	−0.638%	$2.0M	$6.4M	25x	as long as short
Aftermath Perps NEARUSDshort	+0.1582%	1h	4.4888	−0.399%	$6K	$12K	10x