Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.143%

Price spread now: Arcus against Orderly+0.077%7-day average +0.075% · you sell dearer than you buy

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

Long on Orderly Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.314%+$31 on $10k

Price spread, last 3 days (all we have)−0.176%−$18 · spread now +0.077%, 7d avg +0.075%

Together, before fees+0.137%+$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.3087	0.0098	pay 0.0098% / 8h	7h 02m	$57K	$162K	20x
Short	Arcus NEAR-USD	4.3120	0.0100	get 0.0013% / 1h	2m 14s	$204K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Orderly. 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 OrderlybpFee ArcusbpOrdersPrice spread, now +0.077%Rate

Funding earned: $0.32
Price spread: +0.077% → +0.075%: $0.19
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$10
Costs to cover: 0.105%
Break-even: 227.7 days

Slippage unknown: Orderly: no order-book sample; Arcus: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell Arcus live order book, 2 min ago	2.31 bp	5.7 bp −$6	11.9 bp −$119	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.3058	−0.067%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.3095	+0.018%	$7.9M	$38.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3074	−0.030%	$2.1M	$13.2M	50x	as long as short
Phemex NEARUSDT	−0.0043%	8h	4.3070	−0.039%	$3.8M	$8.4M	50x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3270	+0.425%	$382K	$18.7M	2.2x	as long as short
dYdX NEAR-USD	+0.0004%	1h	4.3153	+0.153%	$112K	$64K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3050	−0.086%	$157K	—	150x	as long as short
Variational Omni NEAR	+0.0010%	8h	4.3057	−0.070%	$8.2M	$18.8M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.892%	$578	$302K	12x	as long as short
01 Exchange NEARUSD	+0.0048%	1h	4.3125	+0.088%	$13K	$7K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex NEARUSDT	+0.0096%	1h	4.3110	+0.053%	$115K	$474K	50x	as long as short
Orderly PERP_NEAR_USDClong	+0.0098%	8h	4.3087	long leg	$57K	$162K	20x
Aster NEARUSDT	+0.0100%	8h	4.3152	+0.152%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3190	+0.239%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3069	−0.041%	$257.0M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3070	−0.039%	$220.6M	$415.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3060	−0.063%	$61.0M	$275.8M	50x	as long as short
Arcus NEAR-USDshort	+0.0100%	1h	4.3120	+0.077%	$204K	$1.7M	10x
Bulk NEAR-USD	+0.0100%	1h	4.3243	+0.361%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3055	−0.074%	$30.8M	$61.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3060	−0.063%	$74.7M	$142.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3100	+0.030%	$55.9M	$42.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3066	−0.049%	$71.3M	$122.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3040	−0.109%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3270	+0.425%	$258K	$1.1M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3356	+0.624%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3140	+0.123%	$177K	$776K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3105	+0.042%	$202K	$3.4M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3150	+0.146%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3065	−0.051%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3200	+0.262%	$455K	$3.6M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3107	+0.047%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3058	−0.067%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3059	−0.064%	$200K	$31K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3140	+0.123%	$13.2M	$27.6M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0238%	1h	4.3076	−0.026%	$1.9M	$3.9M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0308%	1h	4.3044	−0.100%	$275K	—	100x	as long as short
Nado NEAR-PERP	+0.0422%	1h	4.3090	+0.007%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3121	+0.079%	$407K	$1.2M	10x	as long as short
Hyperliquid NEAR	+0.0464%	1h	4.3132	+0.104%	$365.9M	$301.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0492%	1h	4.3160	+0.169%	$1.3M	$5.9M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3218	+0.304%	$1.8M	$2.7M	10x	as long as short
Lighter RH NEAR	+0.0504%	1h	4.3252	+0.383%	$1.6M	$7.0M	10x	as long as short
Aftermath Perps NEARUSD	+0.1498%	1h	4.3229	+0.330%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1776%	1h	4.3293	+0.477%	$17.3M	$24.8M	15x	as long as short