Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.213%

Price spread now: Arcus against Bulk+1.401%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$68as in the Price arb table

costs, in and out, $10k−$660.660% of the position

Long on Bulk Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.319%+$32 on $10k

Price spread, last 4 days (all we have)−1.449%−$145 · spread now +1.401%, 7d avg +0.063%

Together, before fees−1.131%−$113 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: Arcus is 1.339% dearer against Bulk than usual: you sell high and buy low, +$134 on $10k if it goes back to its 7-day average of +0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk NEAR-USD	4.2317	0.0100	pay 0.0013% / 1h	4m 57s	$241K	$2K	10x
Short	Arcus NEAR-USD	4.2910	0.0100	get 0.0013% / 1h	4m 57s	$197K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bulk. 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 BulkbpFee ArcusbpOrdersPrice spread, now +1.401%Rate

Funding earned: $0
Price spread: +1.401% → +0.063%: $133.85
Slippage, 4 orders: −$54.52
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $67.83
Costs to cover: 0.660%
Break-even: from the start

Slippage from Bulk: live order book, 14 min ago; Arcus: 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 Bulk live order book, 14 min ago	11.83 bp	15.3 bp −$15	15.3 bp −$153	15.3 bp −$1,533	31.0 bp −$15.5K
Sell Arcus live order book, 4 min ago	3.51 bp	5.8 bp −$6	10.3 bp −$103	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	4.2903	+1.384%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.2898	+1.373%	$2.2M	$13.2M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−2.143%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2862	+1.289%	$112K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2948	+1.491%	$455K	$18.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2922	+1.430%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0047%	1h	4.2943	+1.479%	$7.8M	$36.3M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2940	+1.472%	$107K	$490K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2878	+1.325%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2949	+1.493%	$3.0M	$5.6M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2891	+1.356%	$399K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2960	+1.519%	$249.4M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2931	+1.451%	$220.7M	$420.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2950	+1.496%	$60.4M	$284.6M	50x	as long as short
Arcus NEAR-USDshort	+0.0100%	1h	4.2910	+1.401%	$197K	$1.8M	10x
Bulk NEAR-USDlong	+0.0100%	1h	4.2317	long leg	$241K	$2K	10x
Gate NEAR_USDT	+0.0100%	8h	4.2956	+1.510%	$30.4M	$59.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2900	+1.378%	$83.9M	$145.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2890	+1.354%	$56.3M	$43.3M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2877	+1.323%	$71.3M	$125.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2950	+1.496%	—	$137.9M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2849	+1.258%	$8.0M	$17.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2739	+0.997%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2644	+0.773%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2740	+1.000%	$179K	$790K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2983	+1.574%	$231K	$3.3M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2929	+1.446%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2990	+1.590%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2909	+1.399%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2860	+1.283%	$3.9M	$8.1M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2859	+1.280%	$4.0M	$14.8M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2915	+1.412%	$207K	$62K	3x	as long as short
01 Exchange NEARUSD	+0.0152%	1h	4.2990	+1.590%	$13K	$7K	10x	as long as short
Lighter RH NEAR	+0.0168%	1h	4.2949	+1.494%	$1.5M	$7.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2910	+1.401%	$12.6M	$32.8M	75x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.2972	+1.549%	$414K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0391% / S −0.0335%	1h	4.2929	+1.446%	$293K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0402%	1h	4.2952	+1.501%	$1.9M	$2.3M	25x	as long as short
Nado NEAR-PERP	+0.0469%	1h	4.2914	+1.412%	$1.9M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.2890	+1.354%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0558%	1h	4.2922	+1.430%	$1.3M	$5.5M	20x	as long as short
Hyperliquid NEAR	+0.0663%	1h	4.2973	+1.550%	$371.3M	$297.3M	10x	as long as short
HTX NEAR-USDT	+0.0927%	8h	4.3080	+1.803%	$462K	$3.6M	75x	as long as short
Lighter NEAR	+0.1000%	1h	4.2994	+1.600%	$16.5M	$23.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1002%	1h	4.2635	+0.751%	$5K	$11K	10x	as long as short