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% APRpaid last 24h +0.215%

Price spread now: Arcus against Bybit−0.168%56s7-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—prices read too far apart to compare

costs, in and out, $10k−$300.295% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.321%+$32 on $10k

Price spread, last 7 days+0.141%+$14 · spread now −0.168%, 7d avg +0.057%

Together, before fees+0.462%+$46 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 0.225% cheaper against Bybit than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.057%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.1560	0.0100	pay 0.0100% / 8h	1h 45m	$211.9M	$423.0M	75x
Short	Arcus NEAR-USD	4.1490	0.0100	get 0.0013% / 1h	45m 48s	$307K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → +0.057%: −$22.5
Slippage, 4 orders: −$14.05
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$52.05
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Arcus: 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 Bybit live order book, 3 min ago	1.20 bp	8.3 bp −$8	13.2 bp −$132	27.0 bp −$2,697	doesn't fit
Sell Arcus live order book, 3 min ago	3.61 bp	7.1 bp −$7	9.2 bp −$92	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	4.1456	−0.251%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1481	−0.190%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.361%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1585	+0.061%	$107K	$56K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1516	−0.106%	$441K	$18.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1473	−0.209%	$205K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1575	+0.037%	$7.5M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0072%	1h	4.1484	−0.183%	$12K	$7K	10x	as long as short
Lighter NEAR	+0.0096%	1h	4.1638	+0.188%	$15.3M	$22.5M	15x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1470	−0.217%	$111K	$483K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1551	−0.022%	$53K	$156K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1575	+0.036%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1645	+0.205%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1611	+0.124%	$350K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1601	+0.098%	$238.1M	$1.07B	75x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.1560	long leg	$211.9M	$423.0M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1550	−0.024%	$56.9M	$274.7M	50x	as long as short
Arcus NEAR-USDshort	+0.0100%	1h	4.1490	−0.168%	$307K	$1.6M	10x
Gate NEAR_USDT	+0.0100%	8h	4.1618	+0.140%	$29.7M	$56.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1570	+0.024%	$81.8M	$141.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1610	+0.120%	$55.0M	$44.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1602	+0.101%	$69.1M	$125.8M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1610	+0.120%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1461	−0.237%	$7.7M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1473	−0.210%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1500	−0.144%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1510	−0.120%	$182K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1503	−0.137%	$196K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1600	+0.096%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1540	−0.048%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1540	−0.048%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1450	−0.265%	$236K	$4K	10x	as long as short
Lighter RH NEAR	+0.0104%	1h	4.1638	+0.188%	$1.4M	$6.9M	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1601	+0.098%	$3.8M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1537	−0.055%	$200K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1500	−0.144%	$12.3M	$33.4M	75x	as long as short
Hyperliquid NEAR	+0.0321%	1h	4.1663	+0.248%	$350.1M	$298.4M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1484	−0.183%	$411K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0379% / S −0.0327%	1h	4.1474	−0.208%	$279K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0448%	1h	4.1585	+0.060%	$1.8M	$2.1M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0449%	1h	4.1606	+0.111%	$1.2M	$5.7M	20x	as long as short
Nado NEAR-PERP	+0.0516%	1h	4.1459	−0.244%	$1.8M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1447	−0.272%	$1.7M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.0910%	1h	4.1475	−0.203%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1010%	8h	4.1610	+0.120%	$446K	$3.6M	75x	as long as short