Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: KuCoin against dYdX+0.244%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1271.274% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

Price spread, last 4 days (all we have)+0.612%+$61 · spread now +0.244%, 7d avg +0.050%

Together, before fees+0.781%+$78 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.194% dearer against dYdX than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.4232	0	get 0.0000% / 1h	30m 04s	$109K	$70K	10x
Short	KuCoin NEARUSDTM	4.4340	0.0100	get 0.0100% / 8h	5h 30m	$55.5M	$44.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.244%Rate

Funding earned: $21
Price spread: +0.244% → +0.050%: $19.39
Slippage, 4 orders: −$105.37
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$86.99
Costs to cover: 1.274%
Break-even: 36.0 days

Slippage from dYdX: live order book, 34 min ago; KuCoin: live order book, 9 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, 34 min ago	37.73 bp	42.7 bp −$43	42.7 bp −$427	70.7 bp −$7,066	125.5 bp −$62.8K
Sell KuCoin live order book, 9 min ago	1.14 bp	17.2 bp −$17	36.1 bp −$361	108.7 bp −$10.9K	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	4.4318	+0.194%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4314	+0.185%	$2.2M	$14.7M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.4232	long leg	$109K	$70K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.4224	−0.019%	$638K	$19.6M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.4379	+0.332%	$1.9M	$4.4M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4277	+0.100%	$200K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.380%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4370	+0.312%	$116K	$490K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4242	+0.022%	$418K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4368	+0.307%	$269.3M	$1.08B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.4400	+0.379%	$223.2M	$419.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4410	+0.402%	$63.4M	$294.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	+0.426%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4436	+0.461%	$32.1M	$62.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4410	+0.402%	$76.4M	$142.9M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.4340	+0.244%	$55.5M	$44.3M	75x
Bitget NEARUSDT	+0.0100%	8h	4.4373	+0.318%	$73.1M	$127.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4400	+0.379%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4186	−0.105%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4477	+0.555%	$267K	$989K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4540	+0.697%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4357	+0.282%	$216K	$3.7M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4309	+0.174%	$60K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4330	+0.221%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4325	+0.210%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4300	+0.153%	$461K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4340	+0.244%	$3.9M	$8.1M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4201	−0.071%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4282	+0.113%	$3.8M	$18.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4325	+0.210%	$206K	$34K	3x	as long as short
ApeX Omni NEARUSDT	+0.0186%	1h	4.4450	+0.492%	$172K	$793K	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4160	−0.163%	$13.6M	$31.2M	75x	as long as short
Aster NEARUSDT	+0.0234%	8h	4.4360	+0.289%	$3.0M	$5.4M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0245%	1h	4.4324	+0.207%	$261K	—	100x	as long as short
Nado NEAR-PERP	+0.0390%	1h	4.4350	+0.266%	$1.9M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0392%	1h	4.4335	+0.232%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4350	+0.266%	$211K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0576%	1h	4.4447	+0.486%	$1.4M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0695%	1h	4.4324	+0.209%	$8.2M	$41.0M	50x	as long as short
Lighter RH NEAR	+0.0720%	1h	4.4432	+0.452%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0753%	1h	4.4460	+0.515%	$370.3M	$309.0M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4463	+0.522%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4371	+0.314%	$559K	$1.3M	10x	as long as short
Lighter NEAR	+0.1288%	1h	4.4480	+0.561%	$17.8M	$25.9M	15x	as long as short
Aftermath Perps NEARUSD	+0.1688%	1h	4.4254	+0.049%	$6K	$12K	10x	as long as short