Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.184%

Price spread now: Bybit against Arcus−0.311%7-day average −0.057% · 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−$55as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.322%−$32 on $10k

Price spread, last 7 days+0.325%+$32 · spread now −0.311%, 7d avg −0.057%

Together, before fees+0.003%$0 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: Bybit is 0.254% cheaper against Arcus than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.2750	0.0100	pay 0.0013% / 1h	45m 02s	$202K	$1.8M	10x
Short	Bybit NEARUSDT	4.2617	0.0096	get 0.0096% / 8h	45m 02s	$218.9M	$421.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.311%Rate

Funding earned: −$0.74
Price spread: −0.311% → −0.057%: −$25.38
Slippage, 4 orders: −$14.25
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$55.87
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from Arcus: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	4.66 bp	6.9 bp −$7	10.5 bp −$105	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.16 bp	7.4 bp −$7	12.9 bp −$129	33.0 bp −$3,301	151.7 bp −$75.9K

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	4.2681	−0.161%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2743	−0.016%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2746	−0.008%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2746	−0.009%	$395K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2693	−0.134%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.135%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2710	−0.094%	$108K	$498K	50x	as long as short
Bybit NEARUSDTshort	+0.0096%	8h	4.2617	−0.311%	$218.9M	$421.4M	75x
Variational Omni NEAR	+0.0098%	8h	4.2670	−0.188%	$7.8M	$18.0M	—	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2753	+0.006%	$31K	$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	4.2727	−0.055%	$3.0M	$5.6M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2749	−0.003%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2666	−0.196%	$252.7M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2620	−0.304%	$60.8M	$284.5M	50x	as long as short
Arcus NEAR-USDlong	+0.0100%	1h	4.2750	long leg	$202K	$1.8M	10x
Bulk NEAR-USD	+0.0100%	1h	4.3000	+0.585%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2682	−0.159%	$30.1M	$58.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2650	−0.234%	$78.2M	$140.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2670	−0.187%	$55.9M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2636	−0.267%	$70.8M	$126.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2650	−0.234%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2986	+0.553%	$245K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2963	+0.499%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	−0.094%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2738	−0.028%	$209K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2708	−0.098%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2730	−0.047%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2681	−0.161%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2700	−0.117%	$3.9M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2620	−0.304%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2705	−0.105%	$206K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2703	−0.110%	$7.4M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0200%	1h	4.2729	−0.049%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2710	−0.094%	$13.0M	$30.6M	75x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.2753	+0.007%	$1.5M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0314%	1h	4.2693	−0.134%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2743	−0.016%	$412K	$1.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0429%	1h	4.2738	−0.028%	$1.9M	$2.3M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0439%	1h	4.2727	−0.054%	$1.3M	$5.5M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2919	+0.395%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0808%	1h	4.2685	−0.151%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0874%	8h	4.2790	+0.094%	$457K	$3.7M	75x	as long as short
Hyperliquid NEAR	+0.1128%	1h	4.2763	+0.030%	$368.6M	$298.2M	10x	as long as short
Aftermath Perps NEARUSD	+0.1181%	1h	4.2914	+0.383%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.1856%	1h	4.2807	+0.133%	$16.5M	$23.7M	15x	as long as short