Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.062%

Price spread now: BloFin against dYdX+0.078%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$269as in the Funding arb table

Net, price: spread back to 7d avg − costs−$302as in the Price arb table

costs, in and out, $10k−$3083.085% of the position

Long on dYdX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.399%+$40 on $10k

Price spread, last 3 days (all we have)+0.194%+$19 · spread now +0.078%, 7d avg +0.015%

Together, before fees+0.593%+$59 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.063% dearer against dYdX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.2087	0	get 0.0000% / 1h	16m 05s	$109K	$58K	10x
Short	BloFin NEAR-USDT	4.2120	0.0220	get 0.0220% / 8h	1h 16m	$12.4M	$31.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against dYdX. 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 dYdXbpFee BloFinbpOrdersPrice spread, now +0.078%Rate

Funding earned: $46.2
Price spread: +0.078% → +0.015%: $6.28
Slippage, 4 orders: −$286.48
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$256
Costs to cover: 3.085%
Break-even: 45.8 days

Slippage from dYdX: live order book, 3 min ago; BloFin: 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 dYdX live order book, 3 min ago	79.83 bp	201.0 bp −$201	203.7 bp −$2,037	203.9 bp −$20.4K	214.8 bp −$107.4K
Sell BloFin live order book, 3 min ago	1.19 bp	11.9 bp −$12	12.2 bp −$122	33.1 bp −$3,315	95.3 bp −$47.6K

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	4.2042	−0.108%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.2069	−0.043%	$2.2M	$12.8M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−1.609%	$578	$302K	12x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.2087	long leg	$109K	$58K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.2082	−0.012%	$431K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2079	−0.020%	$208K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.2067	−0.048%	$7.7M	$36.6M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2080	−0.017%	$107K	$487K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2067	−0.048%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2126	+0.093%	$3.0M	$5.7M	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	4.2102	+0.034%	$364K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2050	−0.088%	$241.8M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2030	−0.136%	$214.8M	$420.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2020	−0.160%	$58.4M	$277.0M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2080	−0.017%	$226K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2055	−0.077%	$30.0M	$57.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2060	−0.065%	$83.2M	$143.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2070	−0.041%	$55.3M	$43.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2038	−0.117%	$69.7M	$124.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2040	−0.112%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1950	−0.327%	$7.8M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1992	−0.227%	$240K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2092	+0.012%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2020	−0.160%	$176K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2095	+0.019%	$204K	$3.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2070	−0.041%	$56K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2140	+0.125%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2040	−0.112%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2050	−0.088%	$3.9M	$8.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2042	−0.108%	$240K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2021	−0.157%	$3.9M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2049	−0.090%	$203K	$62K	3x	as long as short
Lighter RH NEAR	+0.0120%	1h	4.2105	+0.042%	$1.5M	$7.0M	10x	as long as short
01 Exchange NEARUSD	+0.0120%	1h	4.2114	+0.064%	$12K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0178%	1h	4.2092	+0.011%	$1.9M	$2.2M	25x	as long as short
BloFin NEAR-USDTshort	+0.0220%	8h	4.2120	+0.078%	$12.4M	$31.8M	75x
RISEx NEAR/USDC	+0.0364%	1h	4.2109	+0.051%	$411K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0383% / S −0.0329%	1h	4.2073	−0.035%	$284K	—	100x	as long as short
Hyperliquid NEAR	+0.0443%	1h	4.2124	+0.087%	$357.4M	$294.0M	10x	as long as short
Nado NEAR-PERP	+0.0504%	1h	4.2061	−0.062%	$1.9M	$3.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0510%	1h	4.2092	+0.011%	$1.2M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.2035	−0.124%	$1.7M	$2.7M	10x	as long as short
Lighter NEAR	+0.0880%	1h	4.2167	+0.189%	$16.3M	$23.6M	15x	as long as short
HTX NEAR-USDT	+0.0944%	8h	4.2190	+0.244%	$453K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.0984%	1h	4.2063	−0.058%	$5K	$11K	10x	as long as short