Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.062%

Price spread now: dYdX against BloFin−0.142%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1281.284% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.399%−$40 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now −0.142%, 7d avg −0.014%

Together, before fees−0.466%−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and dYdX is 0.128% cheaper against BloFin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NEAR-USDT	4.2920	0.0220	pay 0.0220% / 8h	2h 28m	$13.2M	$31.6M	75x
Short	dYdX NEAR-USD	4.2859	0	get 0.0000% / 1h	28m 13s	$105K	$68K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$46.2
Price spread: −0.142% → −0.014%: −$12.81
Slippage, 4 orders: −$106.35
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$187.36
Costs to cover: 1.284%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; dYdX: live order book, 21 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	1.16 bp	7.2 bp −$7	9.6 bp −$96	29.7 bp −$2,969	86.4 bp −$43.2K
Sell dYdX live order book, 21 min ago	43.23 bp	65.8 bp −$66	147.0 bp −$1,470	161.2 bp −$16.1K	360.4 bp −$180.2K

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	4.2837	−0.194%	$2K	—	20x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.2859	−0.142%	$105K	$68K	10x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2767	−0.356%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.518%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2840	−0.186%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2871	−0.113%	$262.1M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2822	−0.228%	$213.6M	$420.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2860	−0.140%	$60.2M	$284.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	+0.181%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2839	−0.189%	$32.3M	$60.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2880	−0.093%	$77.1M	$144.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2850	−0.163%	$51.7M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2844	−0.177%	$70.8M	$127.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2860	−0.140%	—	$143.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2878	−0.097%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2962	+0.098%	$259K	$958K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2943	+0.054%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2861	−0.137%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2851	−0.161%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2930	+0.023%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2910	−0.023%	$463K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2860	−0.140%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2844	−0.177%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2870	−0.116%	$199K	$37K	3x	as long as short
BloFin NEAR-USDTlong	+0.0220%	8h	4.2920	long leg	$13.2M	$31.6M	75x
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2838	−0.191%	$2.3M	$15.8M	50x	as long as short
ApeX Omni NEARUSDT	+0.0263%	1h	4.2960	+0.093%	$165K	$795K	50x	as long as short
Kalshi KXNEARPERP	+0.0269%	8h	4.2828	−0.214%	$865K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2770	−0.349%	$231K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.2850	−0.163%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0388%	1h	4.2853	−0.157%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2817	−0.239%	$3.6M	$19.7M	25x	as long as short
SoDEX NEAR-USD	+0.0561%	1h	4.2835	−0.198%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0655%	1h	4.2871	−0.114%	$1.3M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0687%	1h	4.2898	−0.051%	$350.7M	$310.4M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0739%	1h	4.2811	−0.253%	$7.3M	$38.8M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.2919	−0.002%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2900	−0.047%	$215K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2900	−0.047%	$393K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.2900	−0.047%	$16.8M	$25.1M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0965%	1h	4.2860	−0.140%	$1.9M	$11.0M	25x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3089	+0.394%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1136%	1h	4.2901	−0.044%	$1.4M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2884	−0.083%	$682K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1368%	1h	4.2909	−0.024%	$5K	$12K	10x	as long as short