Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0527%/8h= −57.8% APRpaid last 24h −0.105%

Price spread now: Phemex against Arcus−0.115%7-day average −0.070% · 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−$72as in the Price arb table

costs, in and out, $10k−$680.677% of the position

Long on Arcus Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.326%−$33 on $10k

Price spread, last 4 days (all we have)+0.471%+$47 · spread now −0.115%, 7d avg −0.070%

Together, before fees+0.145%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Phemex is 0.045% cheaper against Arcus than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.070%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.3420	0.0627	pay 0.0078% / 1h	43m 02s	$213K	$1.6M	10x
Short	Phemex NEARUSDT	4.3370	0.0100	get 0.0100% / 8h	3h 43m	$3.7M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.115%Rate

Funding earned: −$110.76
Price spread: −0.115% → −0.070%: −$4.55
Slippage, 4 orders: −$51.2
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$183
Costs to cover: 0.677%
Break-even: never at this rate

Slippage from Arcus: live order book, 1 min ago; Phemex: live order book, 6 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, 1 min ago	2.31 bp	4.6 bp −$5	9.0 bp −$90	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	5.73 bp	23.6 bp −$24	52.8 bp −$528	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	4.3355	−0.150%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3308	−0.259%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3315	−0.243%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.629%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3406	−0.032%	$2.3M	$16.0M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3360	−0.138%	$108K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3320	−0.230%	$265.7M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3250	−0.392%	$215.5M	$427.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3270	−0.345%	$61.7M	$291.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3400	−0.046%	$247K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3311	−0.251%	$31.7M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3360	−0.138%	$73.7M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3350	−0.161%	$53.9M	$46.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3265	−0.357%	$71.0M	$128.8M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3310	−0.253%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	−0.052%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3444	+0.055%	$254K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3214	−0.474%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3100	−0.737%	$166K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3398	−0.051%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3356	−0.147%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3450	+0.069%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3500	+0.184%	$462K	$4.0M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3370	−0.115%	$3.7M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3306	−0.263%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3350	−0.161%	$202K	$37K	3x	as long as short
Kalshi KXNEARPERP	+0.0130%	8h	4.3392	−0.064%	$654K	$23.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3390	−0.069%	$13.8M	$32.2M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3342	−0.180%	$412K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.3330	−0.207%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0194%	1h	4.3316	−0.239%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0421%	1h	4.3318	−0.235%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0512%	1h	4.3350	−0.161%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3423	+0.007%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0609%	1h	4.3379	−0.096%	$356.2M	$320.5M	10x	as long as short
Arcus NEAR-USDlong	+0.0627%	1h	4.3420	long leg	$213K	$1.6M	10x
Extended NEAR-USD	+0.0672%	1h	4.3255	−0.380%	$3.8M	$19.8M	25x	as long as short
Nado NEAR-PERP	+0.0697%	1h	4.3380	−0.092%	$1.8M	$3.1M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3327	−0.214%	$7.6M	$39.6M	50x	as long as short
Lighter RH NEAR	+0.0856%	1h	4.3387	−0.076%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3302	−0.272%	$1.8M	$2.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0997%	1h	4.3357	−0.145%	$2.0M	$8.8M	25x	as long as short
Lighter NEAR	+0.1144%	1h	4.3390	−0.068%	$17.5M	$24.9M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3430	+0.023%	$627K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1582%	1h	4.3407	−0.029%	$5K	$12K	10x	as long as short