Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: Bulk against BloFin−0.120%7-day average −0.009% · 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−$66as in the Price arb table

costs, in and out, $10k−$550.551% of the position

Long on BloFin Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.120%−$12 on $10k

Price spread, last 3 days (all we have)−0.116%−$12 · spread now −0.120%, 7d avg −0.009%

Together, before fees−0.236%−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bulk is 0.111% cheaper against BloFin than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NEAR-USDT	4.1650	0.0220	pay 0.0220% / 8h	1h 27m	$12.3M	$31.6M	75x
Short	Bulk NEAR-USD	4.1600	0.0100	get 0.0013% / 1h	27m 55s	$237K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against BloFin. 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 BloFinbpFee BulkbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$25.2
Price spread: −0.120% → −0.009%: −$11.09
Slippage, 4 orders: −$36.14
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$91.43
Costs to cover: 0.551%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Bulk: live order book, 56 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 BloFin live order book, 6 min ago	5.98 bp	12.0 bp −$12	17.1 bp −$171	31.8 bp −$3,179	93.0 bp −$46.5K
Sell Bulk live order book, 56 min ago	12.09 bp	15.6 bp −$16	35.7 bp −$357	39.4 bp −$3,937	51.7 bp −$25.8K

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	4.1746	+0.229%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1636	−0.034%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.576%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1629	−0.050%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1684	+0.082%	$430K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1768	+0.284%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1766	+0.278%	$7.6M	$36.8M	50x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1791	+0.339%	$1.5M	$7.0M	10x	as long as short
01 Exchange NEARUSD	+0.0096%	1h	4.1794	+0.346%	$12K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1800	+0.360%	$111K	$482K	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	4.1744	+0.226%	$53K	$158K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1599	−0.122%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1725	+0.179%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1621	−0.069%	$360K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1695	+0.107%	$238.9M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1667	+0.041%	$212.6M	$423.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1670	+0.048%	$57.5M	$275.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1750	+0.240%	$240K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1693	+0.103%	$29.9M	$57.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1670	+0.048%	$82.1M	$141.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1710	+0.144%	$54.9M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1682	+0.077%	$69.0M	$125.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1670	+0.048%	—	$136.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1650	0.000%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1758	+0.260%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1588	−0.148%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1730	+0.192%	$174K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1810	+0.384%	$204K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1860	+0.504%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1741	+0.218%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1740	+0.216%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USDshort	+0.0100%	1h	4.1600	−0.120%	$237K	$2K	10x
Extended NEAR-USD	+0.0104%	1h	4.1662	+0.029%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1742	+0.220%	$201K	$62K	3x	as long as short
BloFin NEAR-USDTlong	+0.0220%	8h	4.1650	long leg	$12.3M	$31.6M	75x
Deribit NEAR_USDC-PERPETUAL	+0.0301%	1h	4.1785	+0.324%	$1.8M	$2.2M	25x	as long as short
Hyperliquid NEAR	+0.0346%	1h	4.1767	+0.281%	$352.6M	$299.0M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1781	+0.315%	$411K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1763	+0.271%	$282K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0435%	1h	4.1778	+0.307%	$1.2M	$5.7M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1800	+0.360%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0548%	1h	4.1793	+0.344%	$1.8M	$3.5M	10x	as long as short
Lighter NEAR	+0.0552%	1h	4.1834	+0.441%	$16.0M	$23.3M	15x	as long as short
Aftermath Perps NEARUSD	+0.0868%	1h	4.1730	+0.192%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0969%	8h	4.1750	+0.240%	$446K	$3.6M	75x	as long as short