Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0595%/8h= −65.1% APRpaid last 24h −0.038%

Price spread now: BloFin against Arcus−0.179%7-day average −0.074% · 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−$47as in the Price arb table

costs, in and out, $10k−$370.366% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.202%−$20 on $10k

Price spread, last 4 days (all we have)+0.339%+$34 · spread now −0.179%, 7d avg −0.074%

Together, before fees+0.137%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and BloFin is 0.106% cheaper against Arcus than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.074%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.202% in total (about -20.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.4580	0.0880	pay 0.0110% / 1h	51m 52s	$226K	$1.6M	10x
Short	BloFin NEAR-USDT	4.4500	0.0285	get 0.0285% / 8h	1h 51m	$13.5M	$32.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.179%Rate

Funding earned: −$124.85
Price spread: −0.179% → −0.074%: −$10.56
Slippage, 4 orders: −$20.06
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$171.97
Costs to cover: 0.366%
Break-even: never at this rate

Slippage from Arcus: live order book, 2 min ago; BloFin: 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 Arcus live order book, 2 min ago	2.25 bp	6.7 bp −$7	10.4 bp −$104	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	2.25 bp	13.2 bp −$13	21.5 bp −$215	39.8 bp −$3,978	82.8 bp −$41.4K

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	4.4378	−0.453%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4319	−0.585%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4379	−0.450%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.111%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4330	−0.561%	$114K	$494K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4452	−0.287%	$227.0M	$424.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4440	−0.314%	$62.5M	$295.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−0.480%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4394	−0.417%	$34.5M	$59.8M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4430	−0.336%	$53.5M	$45.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4393	−0.419%	$73.5M	$126.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4407	−0.388%	$8.9M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4434	−0.327%	$260K	$963K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4418	−0.363%	$278K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4401	−0.402%	$58K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4420	−0.359%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4480	−0.224%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4360	−0.493%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.4330	−0.560%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0120%	8h	4.4450	−0.292%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.4395	−0.415%	$206K	$40K	3x	as long as short
BingX NEAR-USDT	+0.0159%	8h	4.4420	−0.359%	—	$143.7M	—	as long as short
MEXC NEAR_USDT	+0.0165%	8h	4.4390	−0.426%	$85.1M	$144.1M	200x	as long as short
Binance NEARUSDT	+0.0167%	8h	4.4439	−0.316%	$269.1M	$1.08B	75x	as long as short
SoDEX NEAR-USD	+0.0237%	1h	4.4355	−0.505%	$5K	$52K	10x	as long as short
BloFin NEAR-USDTshort	+0.0285%	8h	4.4500	−0.179%	$13.5M	$32.8M	75x
Kalshi KXNEARPERP	+0.0305%	8h	4.4414	−0.372%	$1.1M	$24.9M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0315% / S −0.0201%	1h	4.4381	−0.446%	$238K	—	100x	as long as short
Aster NEARUSDT	+0.0342%	8h	4.4426	−0.345%	$2.9M	$5.0M	50x	as long as short
Extended NEAR-USD	+0.0376%	1h	4.4403	−0.397%	$3.7M	$19.0M	25x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4441	−0.312%	$2.3M	$16.3M	50x	as long as short
ApeX Omni NEARUSDT	+0.0440%	1h	4.4430	−0.336%	$168K	$803K	50x	as long as short
01 Exchange NEARUSD	+0.0496%	1h	4.4369	−0.473%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0569%	1h	4.4384	−0.440%	$1.3M	$6.5M	20x	as long as short
Nado NEAR-PERP	+0.0575%	1h	4.4380	−0.449%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0658%	1h	4.4348	−0.521%	$7.4M	$38.7M	50x	as long as short
Hyperliquid NEAR	+0.0668%	1h	4.4412	−0.377%	$365.4M	$306.6M	10x	as long as short
Arcus NEAR-USDlong	+0.0880%	1h	4.4580	long leg	$226K	$1.6M	10x
Deribit NEAR_USDC-PERPETUAL	+0.0900%	1h	4.4412	−0.377%	$1.9M	$12.2M	25x	as long as short
Lighter NEAR	+0.0904%	1h	4.4428	−0.340%	$17.4M	$24.6M	15x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4489	−0.204%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1016%	1h	4.4421	−0.357%	$1.5M	$6.6M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4364	−0.485%	$408K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1193%	1h	4.4376	−0.457%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4354	−0.507%	$678K	$1.4M	10x	as long as short