Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.024%

Price spread now: dYdX against Bybit−0.039%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$273as in the Funding arb table

Net, price: spread back to 7d avg − costs−$264as in the Price arb table

costs, in and out, $10k−$2582.584% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.039%, 7d avg +0.021%

Together, before fees−0.208%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.060% cheaper against Bybit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.1370	0.0100	pay 0.0100% / 8h	2h 08m	$210.6M	$428.7M	75x
Short	dYdX NEAR-USD	4.1354	0	get 0.0000% / 1h	8m 35s	$104K	$54K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$21
Price spread: −0.039% → +0.021%: −$6
Slippage, 4 orders: −$237.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$285.38
Costs to cover: 2.584%
Break-even: never at this rate

Slippage from Bybit: live order book, 11 min ago; dYdX: live order book, 15 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 Bybit live order book, 11 min ago	1.21 bp	10.1 bp −$10	21.4 bp −$214	34.9 bp −$3,491	doesn't fit
Sell dYdX live order book, 15 min ago	112.52 bp	117.5 bp −$118	127.8 bp −$1,278	141.2 bp −$14.1K	162.3 bp −$81.1K

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	4.1195	−0.424%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1221	−0.360%	$2.1M	$12.6M	50x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.1354	−0.039%	$104K	$54K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.1130	−0.580%	$396K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1246	−0.300%	$204K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.097%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1380	+0.024%	$108K	$490K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1261	−0.263%	$53K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1344	−0.062%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1383	+0.032%	$2.9M	$5.9M	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	4.1354	−0.039%	$348K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1370	0.000%	$235.7M	$1.08B	75x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.1370	long leg	$210.6M	$428.7M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1370	0.000%	$56.4M	$275.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1150	−0.532%	$234K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1351	−0.046%	$29.4M	$58.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1330	−0.097%	$80.4M	$144.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1360	−0.024%	$55.9M	$44.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1342	−0.068%	$68.7M	$127.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1340	−0.073%	—	$136.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1114	−0.619%	$7.6M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1110	−0.629%	$234K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1103	−0.646%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1130	−0.580%	$181K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1220	−0.363%	$199K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1240	−0.314%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1260	−0.266%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1310	−0.145%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1341	−0.071%	$3.7M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1264	−0.256%	$200K	$61K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1380	+0.024%	$308K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0150%	1h	4.1294	−0.183%	$7.3M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0160%	1h	4.1394	+0.058%	$12K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0186%	1h	4.1302	−0.164%	$1.8M	$2.1M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1270	−0.242%	$12.3M	$33.6M	75x	as long as short
Lighter RH NEAR	+0.0256%	1h	4.1384	+0.034%	$1.4M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0366%	1h	4.1166	−0.493%	$1.8M	$3.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0317%	1h	4.1233	−0.332%	$272K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1391	+0.052%	$413K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1233	−0.331%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0740%	1h	4.1365	−0.012%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0760%	1h	4.1400	+0.074%	$15.2M	$23.0M	15x	as long as short
Hyperliquid NEAR	+0.0873%	1h	4.1407	+0.089%	$347.6M	$298.8M	10x	as long as short
Aftermath Perps NEARUSD	+0.0929%	1h	4.1231	−0.337%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1073%	8h	4.1330	−0.097%	$444K	$3.7M	75x	as long as short