Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0481%/8h= +52.7% APRpaid last 24h +0.121%

Price spread now: Arcus against Variational Omni+0.211%7-day average +0.019% · you sell dearer than you buy

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

Long on Variational Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.338%+$34 on $10k

Price spread, last 7 days−0.182%−$18 · spread now +0.211%, 7d avg +0.019%

Together, before fees+0.156%+ Points / potential airdropVariational Omni: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Arcus is 0.192% dearer against Variational Omni than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NEAR	4.3907	0.0100	pay 0.0100% / 8h	3h 59m	$8.5M	$18.0M	—
Short	Arcus NEAR-USD	4.4000	0.0581	get 0.0073% / 1h	59m 07s	$217K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 ArcusbpOrdersPrice spread, now +0.211%Rate

Funding earned: $100.98
Price spread: +0.211% → +0.019%: $19.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $115.67
Costs to cover: 0.045%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Arcus: live order book, 5 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 Variational Omni RFQ quote, 5 min ago	3.85 bp	doesn't fit	11.2 bp −$112	27.5 bp −$2,751	doesn't fit
Sell Arcus live order book, 5 min ago	2.27 bp	6.8 bp −$7	15.9 bp −$159	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	4.3888	−0.044%	$2K	—	20x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3862	−0.103%	$623K	$22.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3877	−0.069%	$164K	—	150x	as long as short
dYdX NEAR-USD	+0.0007%	1h	4.3861	−0.105%	$108K	$69K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.688%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3968	+0.138%	$2.2M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3940	+0.074%	$113K	$507K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3912	+0.010%	$417K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3920	+0.029%	$271.1M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3865	−0.096%	$221.2M	$423.0M	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	4.3880	−0.062%	$62.7M	$294.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3879	−0.065%	$250K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3872	−0.080%	$31.9M	$60.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3920	+0.029%	$76.2M	$142.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3920	+0.029%	$54.7M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3866	−0.094%	$72.1M	$129.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3900	−0.017%	—	$146.1M	—	as long as short
Variational Omni NEARlong	+0.0100%	8h	4.3907	long leg	$8.5M	$18.0M	—
edgeX NEARUSDC	+0.0100%	4h	4.3951	+0.099%	$264K	$966K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3988	+0.185%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3990	+0.188%	$169K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3948	+0.093%	$244K	$3.8M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3895	−0.028%	$57K	$244K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3990	+0.188%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3889	−0.042%	$8K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3980	+0.166%	$455K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3930	+0.052%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3928	+0.048%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3950	+0.096%	$204K	$40K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3910	+0.006%	$13.8M	$32.5M	75x	as long as short
Aster NEARUSDT	+0.0311%	8h	4.3900	−0.017%	$2.9M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0191%	1h	4.3879	−0.065%	$233K	—	100x	as long as short
Nado NEAR-PERP	+0.0385%	1h	4.3903	−0.009%	$1.9M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0496%	1h	4.4016	+0.248%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0503%	1h	4.3934	+0.062%	$362.0M	$320.2M	10x	as long as short
Extended NEAR-USD	+0.0576%	1h	4.3885	−0.051%	$3.9M	$19.6M	25x	as long as short
Arcus NEAR-USDshort	+0.0581%	1h	4.4000	+0.211%	$217K	$1.7M	10x
Kraken Futures PF_NEARUSD	+0.0702%	1h	4.3879	−0.065%	$7.9M	$39.8M	50x	as long as short
Lighter RH NEAR	+0.0712%	1h	4.3945	+0.086%	$1.6M	$7.0M	10x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4008	+0.229%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0806%	1h	4.3921	+0.031%	$1.4M	$6.4M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0980%	1h	4.3945	+0.086%	$2.0M	$7.3M	25x	as long as short
Lighter NEAR	+0.1040%	1h	4.3964	+0.129%	$17.7M	$24.8M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.4002	+0.217%	$602K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1603%	1h	4.3969	+0.140%	$5K	$12K	10x	as long as short