Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0460%/8h= +50.4% APRpaid last 24h +0.013%

Price spread now: SoDEX against Bybit−0.128%56s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.128% cheaper against Bybit than usual: you would sell low and buy high (spread −0.128% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 22 hours of funding at the current rate (+$14 a day). The two prices were read 56 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	Bybit NEARUSDT	4.2960	0.0100	pay 0.0100% / 8h	2h 30m	$214.1M	$420.4M	75x
Short	SoDEX NEAR-USD	4.2905	0.0560	get 0.0070% / 1h	30m 24s	$6K	$53K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.128%Rate

Funding earned: $96.7
Price spread: −0.128% → 0.000%: −$12.8
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $64.9
Costs to cover: 0.190%
Break-even: 2.3 days

Slippage unknown: Bybit: live order book, 4 min ago; SoDEX: no order-book sample. Net counts fees only.

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, 4 min ago	1.16 bp	8.8 bp −$9	14.8 bp −$148	39.5 bp −$3,954	136.4 bp −$68.2K
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.2995	+0.081%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2912	−0.112%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2937	−0.054%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.608%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2970	+0.023%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3000	+0.093%	$262.8M	$1.08B	75x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.2960	long leg	$214.1M	$420.4M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3000	+0.093%	$60.5M	$285.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	+0.087%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2966	+0.014%	$32.4M	$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	4.3020	+0.140%	$76.1M	$143.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3020	+0.140%	$52.0M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2990	+0.070%	$71.0M	$127.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2950	−0.023%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2878	−0.190%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2962	+0.005%	$259K	$958K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2949	−0.026%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3006	+0.107%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2943	−0.040%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2990	+0.070%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3020	+0.140%	$463K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2930	−0.070%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2941	−0.045%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2935	−0.058%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2960	0.000%	$13.2M	$31.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2982	+0.051%	$2.3M	$15.8M	50x	as long as short
ApeX Omni NEARUSDT	+0.0263%	1h	4.2960	0.000%	$165K	$795K	50x	as long as short
Kalshi KXNEARPERP	+0.0266%	8h	4.2947	−0.030%	$867K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2931	−0.066%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.2990	+0.070%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0372%	1h	4.2985	+0.058%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0520%	1h	4.2939	−0.050%	$3.7M	$19.7M	25x	as long as short
SoDEX NEAR-USDshort	+0.0560%	1h	4.2905	−0.128%	$6K	$53K	10x
Backpack NEAR_USDC_PERP	+0.0650%	1h	4.2964	+0.009%	$1.3M	$6.7M	20x	as long as short
Hyperliquid NEAR	+0.0692%	1h	4.3037	+0.179%	$351.8M	$310.3M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0737%	1h	4.2893	−0.155%	$7.4M	$38.9M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.3039	+0.184%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3000	+0.093%	$216K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2967	+0.015%	$394K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.3010	+0.116%	$16.8M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3089	+0.300%	$1.8M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1079%	1h	4.2933	−0.063%	$1.9M	$11.0M	25x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.3013	+0.123%	$1.5M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3005	+0.104%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1349%	1h	4.2958	−0.006%	$5K	$12K	10x	as long as short