Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.131%

Price spread now: Arcus against Phemex+0.093%7-day average +0.067% · 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−$110as in the Price arb table

costs, in and out, $10k−$1121.123% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.312%+$31 on $10k

Price spread, last 3 days (all we have)−0.173%−$17 · spread now +0.093%, 7d avg +0.067%

Together, before fees+0.139%+$14 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 0.026% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3190	0.0100	pay 0.0100% / 8h	6h 39m	$3.8M	$8.3M	50x
Short	Arcus NEAR-USD	4.3230	0.0100	get 0.0013% / 1h	39m 36s	$205K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phemex. 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 PhemexbpFee ArcusbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → +0.067%: $2.61
Slippage, 4 orders: −$95.78
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$109.67
Costs to cover: 1.123%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 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 Phemex live order book, 4 min ago	11.57 bp	30.0 bp −$30	68.4 bp −$684	doesn't fit	doesn't fit
Sell Arcus live order book, 4 min ago	3.47 bp	5.7 bp −$6	11.4 bp −$114	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	4.3235	+0.103%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3012	−0.412%	$2.1M	$13.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3153	−0.085%	$108K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2986	−0.472%	$505K	$19.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2941	−0.578%	$199K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.121%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0043%	8h	4.3108	−0.189%	$8.2M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3200	+0.023%	$115K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3049	−0.326%	$57K	$161K	20x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3136	−0.125%	$408K	$1.2M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3198	+0.019%	$258.6M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3234	+0.102%	$219.8M	$419.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3230	+0.093%	$61.0M	$280.0M	50x	as long as short
Arcus NEAR-USDshort	+0.0100%	1h	4.3230	+0.093%	$205K	$1.8M	10x
Bulk NEAR-USD	+0.0100%	1h	4.3300	+0.255%	$247K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3176	−0.032%	$31.0M	$60.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3160	−0.069%	$75.4M	$137.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3110	−0.185%	$55.4M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3229	+0.090%	$71.6M	$123.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3210	+0.046%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3211	+0.049%	$259K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3122	−0.157%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3250	+0.139%	$179K	$776K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3254	+0.148%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3000	−0.440%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3120	−0.162%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3200	+0.023%	$440K	$3.9M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.3190	long leg	$3.8M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3173	−0.040%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3070	−0.278%	$3.0M	$5.8M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3185	−0.012%	$3.8M	$17.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3052	−0.320%	$200K	$34K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0219%	1h	4.3172	−0.042%	$7.9M	$39.9M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	+0.069%	$13.2M	$27.6M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0358% / S −0.0278%	1h	4.2947	−0.563%	$257K	—	100x	as long as short
01 Exchange NEARUSD	+0.0368%	1h	4.3223	+0.076%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0378%	1h	4.3053	−0.317%	$1.9M	$4.1M	25x	as long as short
Nado NEAR-PERP	+0.0452%	1h	4.3200	+0.023%	$1.9M	$3.0M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3221	+0.072%	$541K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3150	−0.093%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0640%	1h	4.3134	−0.130%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0744%	1h	4.3300	+0.255%	$363.8M	$303.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0772%	1h	4.3166	−0.056%	$1.4M	$6.0M	20x	as long as short
Lighter NEAR	+0.1416%	1h	4.3150	−0.093%	$17.2M	$24.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1499%	1h	4.3160	−0.069%	$5K	$12K	10x	as long as short