Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.017%

Price spread now: Bybit against dYdX−0.078%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$291as in the Price arb table

costs, in and out, $10k−$2862.856% of the position

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.078%, 7d avg −0.025%

Together, before fees+0.225%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.053% cheaper against dYdX than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of −0.025%). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.3164	0	get 0.0000% / 1h	10m 00s	$112K	$64K	10x
Short	Bybit NEARUSDT	4.3130	0.0100	get 0.0100% / 8h	7h 10m	$218.3M	$414.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.078%Rate

Funding earned: $21
Price spread: −0.078% → −0.025%: −$5.25
Slippage, 4 orders: −$264.65
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$269.9
Costs to cover: 2.856%
Break-even: 97.0 days

Slippage from dYdX: live order book, 64 min ago; Bybit: live order book, 4 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, 64 min ago	73.01 bp	193.3 bp −$193	193.4 bp −$1,934	193.4 bp −$19.3K	193.8 bp −$96.9K
Sell Bybit live order book, 4 min ago	1.15 bp	6.7 bp −$7	8.5 bp −$85	30.7 bp −$3,069	274.5 bp −$137.3K

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	4.3137	−0.062%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0130%	1h	4.3128	−0.082%	$7.9M	$38.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3396	+0.538%	$2.3M	$13.0M	50x	as long as short
Phemex NEARUSDT	−0.0037%	8h	4.3090	−0.170%	$3.8M	$8.4M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.3164	long leg	$112K	$64K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.3164	+0.001%	$345K	$18.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3104	−0.138%	$203K	—	150x	as long as short
Variational Omni NEAR	+0.0010%	8h	4.3248	+0.195%	$8.2M	$18.9M	—	as long as short
01 Exchange NEARUSD	+0.0024%	1h	4.3185	+0.050%	$13K	$7K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.063%	$578	$302K	12x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex NEARUSDT	+0.0096%	1h	4.3160	−0.008%	$115K	$479K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.3116	−0.110%	$57K	$177K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3164	+0.001%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3134	−0.068%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3182	+0.042%	$399K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3159	−0.011%	$257.6M	$1.05B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.3130	−0.078%	$218.3M	$414.7M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3130	−0.078%	$60.9M	$277.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3180	+0.038%	$205K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3083	−0.186%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3103	−0.140%	$31.0M	$60.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3160	−0.008%	$75.7M	$141.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3160	−0.008%	$56.0M	$42.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3150	−0.031%	$71.9M	$122.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3150	−0.031%	—	$141.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3290	+0.293%	$258K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3459	+0.685%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3330	+0.386%	$181K	$780K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3177	+0.031%	$198K	$3.4M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3180	+0.038%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3090	−0.170%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3180	+0.038%	$455K	$3.7M	75x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3128	−0.082%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3108	−0.128%	$201K	$31K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0214%	1h	4.3134	−0.069%	$1.9M	$3.8M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3230	+0.154%	$12.9M	$27.7M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0307%	1h	4.3100	−0.148%	$275K	—	100x	as long as short
Hyperliquid NEAR	+0.0383%	1h	4.3184	+0.047%	$366.5M	$306.9M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3174	+0.025%	$402K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0429%	1h	4.3138	−0.060%	$1.9M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0472%	1h	4.3158	−0.013%	$1.6M	$7.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0482%	1h	4.3143	−0.048%	$1.3M	$5.9M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3638	+1.099%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1489%	1h	4.3250	+0.201%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1784%	1h	4.3208	+0.102%	$17.3M	$24.7M	15x	as long as short