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 −0.114%

Price spread now: Bybit against Arcus−0.152%7-day average −0.058% · 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−$39as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.335%−$33 on $10k

Price spread, last 7 days+0.152%+$15 · spread now −0.152%, 7d avg −0.058%

Together, before fees−0.183%−$18 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 Bybit is 0.094% cheaper against Arcus than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.058%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.3400	0.0627	pay 0.0078% / 1h	21m 06s	$213K	$1.6M	10x
Short	Bybit NEARUSDT	4.3334	0.0100	get 0.0100% / 8h	3h 21m	$214.5M	$428.2M	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 −0.152%Rate

Funding earned: −$110.76
Price spread: −0.152% → −0.058%: −$9.37
Slippage, 4 orders: −$13.67
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$149.3
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Arcus: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	3.46 bp	5.7 bp −$6	9.1 bp −$91	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.16 bp	6.8 bp −$7	13.7 bp −$137	37.1 bp −$3,712	174.0 bp −$87.0K

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	4.3351	−0.113%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3393	−0.017%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3330	−0.161%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.585%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3431	+0.071%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3390	−0.023%	$110K	$503K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3380	−0.047%	$265.8M	$1.09B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.3334	−0.152%	$214.5M	$428.2M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3340	−0.138%	$61.3M	$291.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.345%	$246K	−$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	4.3340	−0.138%	$32.0M	$61.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3370	−0.069%	$73.7M	$145.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3370	−0.069%	$53.8M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3340	−0.138%	$71.5M	$128.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3360	−0.092%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3627	+0.523%	$8.4M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3292	−0.250%	$253K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3500	+0.231%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3280	−0.276%	$166K	$796K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3406	+0.014%	$276K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3365	−0.081%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3440	+0.092%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3520	+0.276%	$472K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3380	−0.046%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3349	−0.118%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3328	−0.167%	$201K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	+0.023%	$13.4M	$32.2M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3405	+0.012%	$407K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0277%	8h	4.3354	−0.106%	$873K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0323% / S −0.0198%	1h	4.3324	−0.175%	$234K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.3360	−0.092%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0362%	1h	4.3335	−0.150%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3385	−0.035%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0574%	1h	4.3382	−0.041%	$1.3M	$6.8M	20x	as long as short
Nado NEAR-PERP	+0.0584%	1h	4.3357	−0.098%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0596%	1h	4.3380	−0.046%	$355.1M	$313.9M	10x	as long as short
Extended NEAR-USD	+0.0616%	1h	4.3327	−0.169%	$3.8M	$20.0M	25x	as long as short
Arcus NEAR-USDlong	+0.0627%	1h	4.3400	long leg	$213K	$1.6M	10x
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3338	−0.143%	$7.6M	$39.3M	50x	as long as short
Lighter RH NEAR	+0.0880%	1h	4.3396	−0.009%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3290	−0.253%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1104%	1h	4.3394	−0.013%	$17.5M	$25.0M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3394	−0.014%	$686K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1204%	1h	4.3390	−0.023%	$1.9M	$9.5M	25x	as long as short
Aftermath Perps NEARUSD	+0.1546%	1h	4.3401	+0.003%	$5K	$13K	10x	as long as short