Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0428%/8h= +46.9% APRpaid last 24h +0.015%

Price spread now: Extended against Bybit+0.016%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$260.265% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.016%, 7d avg −0.032%

Together, before fees+0.079%+ Points / potential airdropExtended: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Extended is 0.048% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.032%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.048% in total (about 2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.2865	0.0100	pay 0.0100% / 8h	3h 00m	$212.4M	$426.2M	75x
Short	Extended NEAR-USD	4.2872	0.0528	get 0.0066% / 1h	0m 59s	$3.7M	$19.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.016%Rate

Funding earned: $89.88
Price spread: +0.016% → −0.032%: $4.77
Slippage, 4 orders: −$10.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $68.15
Costs to cover: 0.265%
Break-even: 1.7 days

Slippage from Bybit: live order book, 3 min ago; Extended: live order book, 3 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, 3 min ago	1.16 bp	8.8 bp −$9	12.1 bp −$121	31.4 bp −$3,144	120.3 bp −$60.1K
Sell Extended live order book, 3 min ago	0.35 bp	4.5 bp −$4	10.2 bp −$102	1245.6 bp −$124.6K	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	4.2898	+0.077%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2921	+0.130%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2865	0.000%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.394%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.2938	+0.170%	$2.3M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2950	+0.198%	$111K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2906	+0.095%	$261.6M	$1.09B	75x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.2865	long leg	$212.4M	$426.2M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2880	+0.035%	$60.6M	$285.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2973	+0.252%	$245K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.2856	−0.021%	$31.8M	$62.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2920	+0.128%	$72.5M	$147.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2910	+0.105%	$53.3M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2870	+0.012%	$70.9M	$127.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2870	+0.012%	—	$144.5M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2857	−0.017%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2978	+0.265%	$251K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2967	+0.239%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2960	+0.222%	$165K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2944	+0.184%	$267K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2906	+0.096%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3030	+0.385%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2990	+0.292%	$458K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2920	+0.128%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2917	+0.122%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2910	+0.105%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2930	+0.152%	$13.4M	$31.6M	75x	as long as short
Kalshi KXNEARPERP	+0.0250%	8h	4.2955	+0.210%	$773K	$23.9M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.2952	+0.204%	$396K	$1.3M	10x	as long as short
SoDEX NEAR-USD	+0.0303%	1h	4.2885	+0.047%	$6K	$53K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2856	−0.021%	$231K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.2900	+0.082%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.2979	+0.266%	$13K	$7K	10x	as long as short
Extended NEAR-USDshort	+0.0528%	1h	4.2872	+0.016%	$3.7M	$19.8M	25x
Hyperliquid NEAR	+0.0545%	1h	4.2917	+0.121%	$351.1M	$313.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0562%	1h	4.2908	+0.100%	$1.3M	$6.8M	20x	as long as short
Nado NEAR-PERP	+0.0562%	1h	4.2935	+0.163%	$1.8M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.2990	+0.292%	$211K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0719%	1h	4.2886	+0.048%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0904%	1h	4.2944	+0.184%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3300	+1.015%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1024%	1h	4.2954	+0.208%	$17.3M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2972	+0.249%	$666K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1290%	1h	4.2935	+0.163%	$1.9M	$10.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.1500%	1h	4.3028	+0.380%	$5K	$12K	10x	as long as short