Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Bybit against Bulk+0.801%55s7-day average −0.053% · 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—prices read too far apart to compare

costs, in and out, $10k−$480.483% of the position

Long on Bulk Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.943%−$94 · spread now +0.801%, 7d avg −0.053%

Together, before fees−0.945%−$94 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: Bybit is 0.853% dearer against Bulk than usual: you sell high and buy low, +$85 on $10k if it goes back to its 7-day average of −0.053%. The two prices were read 55 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	Bulk NEAR-USD	4.1240	0.0100	pay 0.0013% / 1h	33m 46s	$235K	$6K	10x
Short	Bybit NEARUSDT	4.1570	0.0100	get 0.0100% / 8h	2h 33m	$212.0M	$428.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bulk. 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 BulkbpFee BybitbpOrdersPrice spread, now +0.801%Rate

Funding earned: $0
Price spread: +0.801% → −0.053%: $85.34
Slippage, 4 orders: −$30.32
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $37.01
Costs to cover: 0.483%
Break-even: from the start

Slippage from Bulk: live order book, 55 min ago; Bybit: live order book, 5 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 Bulk live order book, 55 min ago	12.12 bp	15.6 bp −$16	30.7 bp −$307	38.9 bp −$3,895	51.1 bp −$25.6K
Sell Bybit live order book, 5 min ago	1.21 bp	8.1 bp −$8	17.7 bp −$177	39.4 bp −$3,941	180.3 bp −$90.1K

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	4.1563	+0.785%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1572	+0.806%	$2.1M	$12.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1551	+0.754%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1523	+0.687%	$413K	$19.1M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1575	+0.814%	$206K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.0730	−1.236%	$569	$239K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1550	+0.752%	$107K	$489K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1575	+0.813%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1595	+0.862%	$2.9M	$5.9M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1570	+0.801%	$368K	$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	4.1561	+0.778%	$236.8M	$1.09B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.1570	+0.801%	$212.0M	$428.8M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1570	+0.801%	$56.7M	$278.7M	50x	as long as short
Bulk NEAR-USDlong	+0.0100%	1h	4.1240	long leg	$235K	$6K	10x
Gate NEAR_USDT	+0.0100%	8h	4.1600	+0.874%	$29.7M	$58.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1570	+0.801%	$81.5M	$143.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1630	+0.946%	$56.5M	$45.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1518	+0.675%	$69.1M	$127.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1560	+0.777%	—	$136.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1354	+0.276%	$7.6M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1283	+0.104%	$235K	$1.3M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1402	+0.394%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1450	+0.510%	$182K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1596	+0.864%	$206K	$3.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1570	+0.801%	$54K	$159K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1620	+0.922%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1570	+0.801%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1540	+0.728%	$3.8M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1575	+0.814%	$3.6M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1560	+0.777%	$201K	$65K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1570	+0.801%	$308K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0149%	1h	4.1587	+0.841%	$7.1M	$36.7M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0159%	1h	4.1606	+0.888%	$1.8M	$2.1M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1490	+0.607%	$12.2M	$33.7M	75x	as long as short
01 Exchange NEARUSD	+0.0256%	1h	4.1575	+0.813%	$12K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0328%	1h	4.1565	+0.789%	$1.8M	$3.6M	10x	as long as short
Lighter RH NEAR	+0.0344%	1h	4.1595	+0.861%	$1.4M	$7.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0317%	1h	4.1574	+0.812%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1577	+0.817%	$417K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1503	+0.638%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0818%	1h	4.1644	+0.980%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0896%	1h	4.1649	+0.992%	$15.5M	$22.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1014%	1h	4.1378	+0.336%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1090%	1h	4.1604	+0.883%	$349.9M	$301.4M	10x	as long as short
HTX NEAR-USDT	+0.1128%	8h	4.1640	+0.971%	$450K	$3.8M	75x	as long as short