Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Bulk−0.698%7-day average −0.050% · 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−$135as in the Price arb table

costs, in and out, $10k−$700.704% of the position

Long on Bulk Short on OKX

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)+0.275%+$27 · spread now −0.698%, 7d avg −0.050%

Together, before fees+0.274%+$27 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: OKX is 0.647% cheaper against Bulk than usual: you would sell low and buy high, −$65 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk NEAR-USD	4.3000	0.0100	pay 0.0013% / 1h	46m 37s	$245K	$2K	10x
Short	OKX NEAR-USDT-SWAP	4.2700	0.0100	get 0.0100% / 8h	46m 37s	$60.9M	$285.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.698%Rate

Funding earned: $0
Price spread: −0.698% → −0.050%: −$64.75
Slippage, 4 orders: −$53.43
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$135.18
Costs to cover: 0.704%
Break-even: never at this rate

Slippage from Bulk: live order book, 32 min ago; OKX: live order book, 2 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, 32 min ago	11.83 bp	15.3 bp −$15	15.3 bp −$153	15.3 bp −$1,533	31.0 bp −$15.5K
Sell OKX live order book, 2 min ago	1.17 bp	9.4 bp −$9	18.0 bp −$180	44.9 bp −$4,487	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	4.2679	−0.747%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2678	−0.749%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2739	−0.606%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2692	−0.716%	$401K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2702	−0.692%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.698%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2730	−0.628%	$108K	$496K	50x	as long as short
Bybit NEARUSDT	+0.0099%	8h	4.2680	−0.744%	$219.3M	$421.8M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2719	−0.654%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2753	−0.574%	$3.0M	$5.6M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2765	−0.547%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2721	−0.648%	$253.0M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAPshort	+0.0100%	8h	4.2700	−0.698%	$60.9M	$285.1M	50x
Arcus NEAR-USD	+0.0100%	1h	4.2730	−0.628%	$201K	$1.8M	10x	as long as short
Bulk NEAR-USDlong	+0.0100%	1h	4.3000	long leg	$245K	$2K	10x
Gate NEAR_USDT	+0.0100%	8h	4.2726	−0.637%	$30.1M	$58.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2740	−0.605%	$78.2M	$140.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2750	−0.581%	$56.0M	$43.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2727	−0.635%	$71.0M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2720	−0.651%	—	$138.5M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3020	+0.046%	$8.0M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2986	−0.032%	$245K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2963	−0.086%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2990	−0.023%	$180K	$788K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2724	−0.642%	$217K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2662	−0.786%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2730	−0.628%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2690	−0.721%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2700	−0.698%	$3.9M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2710	−0.675%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2685	−0.733%	$206K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2700	−0.697%	$7.4M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0200%	1h	4.2754	−0.572%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2730	−0.628%	$13.0M	$30.7M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0336%	1h	4.2707	−0.681%	$1.9M	$2.3M	25x	as long as short
Lighter RH NEAR	+0.0344%	1h	4.2791	−0.486%	$1.5M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0314%	1h	4.2695	−0.709%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2762	−0.554%	$412K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0431%	1h	4.2742	−0.600%	$1.3M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2919	−0.188%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0814%	1h	4.2705	−0.685%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0879%	8h	4.2760	−0.558%	$457K	$3.7M	75x	as long as short
Hyperliquid NEAR	+0.1177%	1h	4.2785	−0.500%	$368.7M	$298.1M	10x	as long as short
Aftermath Perps NEARUSD	+0.1208%	1h	4.2998	−0.004%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.1920%	1h	4.2860	−0.326%	$16.5M	$23.7M	15x	as long as short