Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0104%/8h= −11.3% APRpaid last 24h −0.155%

Price spread now: Variational Omni against Arcus−0.841%7-day average −0.013% · you buy dearer than you sell

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.330%−$33 on $10k

Price spread, last 7 days+0.828%+$83 · spread now −0.841%, 7d avg −0.013%

Together, before fees+0.497%+ Points / potential airdropVariational Omni: Active · farm board+$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Variational Omni is 0.828% cheaper against Arcus than usual: you would sell low and buy high (−$83 if the spread goes back to its 7-day average of −0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NEAR-USD	4.3030	0.0100	pay 0.0013% / 1h	25m 29s	$197K	$1.7M	10x
Short	Variational Omni NEAR	4.2668	−0.0004	pay 0.0004% / 8h	7h 25m	$7.9M	$18.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.841%Rate

Funding earned: −$21.76
Price spread: −0.841% → −0.013%: −$82.8
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$109.06
Costs to cover: 0.045%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 Arcus live order book, 4 min ago	3.50 bp	5.8 bp −$6	9.0 bp −$90	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.88 bp	doesn't fit	10.4 bp −$104	29.4 bp −$2,942	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	4.3041	+0.025%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0132%	1h	4.2689	−0.792%	$7.2M	$37.3M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2748	−0.655%	$2.2M	$12.9M	50x	as long as short
01 Exchange NEARUSD	−0.0016%	1h	4.3053	+0.053%	$13K	$7K	10x	as long as short
Variational Omni NEARshort	−0.0004%	8h	4.2668	−0.841%	$7.9M	$18.8M	—
dYdX NEAR-USD	0.0000%	1h	4.3014	−0.037%	$111K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2761	−0.625%	$385K	$18.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2695	−0.778%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.765%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0038%	8h	4.3045	+0.035%	$217.9M	$416.5M	75x	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	+0.0092%	8h	4.2994	−0.084%	$30.9M	$59.6M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3040	+0.023%	$114K	$480K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2698	−0.772%	$57K	$191K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2960	−0.162%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3039	+0.022%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3029	−0.002%	$398K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3054	+0.055%	$254.9M	$1.06B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3010	−0.046%	$60.5M	$279.5M	50x	as long as short
Arcus NEAR-USDlong	+0.0100%	1h	4.3030	long leg	$197K	$1.7M	10x
Bulk NEAR-USD	+0.0100%	1h	4.2789	−0.559%	$244K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3060	+0.070%	$76.8M	$140.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3090	+0.139%	$56.7M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3048	+0.042%	$71.4M	$124.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3010	−0.046%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2780	−0.582%	$255K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2745	−0.662%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2800	−0.535%	$179K	$782K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3068	+0.088%	$203K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2870	−0.372%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2689	−0.792%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2760	−0.627%	$452K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2720	−0.720%	$3.8M	$8.5M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0101%	1h	4.2714	−0.734%	$1.9M	$3.4M	25x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2998	−0.074%	$3.9M	$17.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2690	−0.790%	$199K	$28K	3x	as long as short
Hyperliquid NEAR	+0.0151%	1h	4.3105	+0.174%	$361.7M	$305.5M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2770	−0.604%	$12.9M	$28.1M	75x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.3072	+0.098%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0306%	1h	4.2695	−0.779%	$272K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0418%	1h	4.2791	−0.555%	$1.3M	$5.9M	20x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3040	+0.022%	$408K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0459%	1h	4.3040	+0.023%	$1.9M	$3.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2669	−0.839%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1318%	1h	4.2795	−0.545%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1864%	1h	4.3125	+0.222%	$17.3M	$24.4M	15x	as long as short