Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: MEXC against dYdX+0.243%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$227as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2432.430% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 4 days (all we have)+0.310%+$31 · spread now +0.243%, 7d avg +0.007%

Together, before fees+0.474%+$47 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 MEXC is 0.235% dearer against dYdX than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.1320	0	get 0.0000% / 1h	1m 06s	$104K	$54K	10x
Short	MEXC NEAR_USDT	4.1420	0.0100	get 0.0100% / 8h	2h 01m	$81.6M	$145.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.243%Rate

Funding earned: $21
Price spread: +0.243% → +0.007%: $23.54
Slippage, 4 orders: −$232.97
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$198.43
Costs to cover: 2.430%
Break-even: 73.1 days

Slippage from dYdX: live order book, 23 min ago; MEXC: 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, 23 min ago	112.52 bp	122.3 bp −$122	122.4 bp −$1,224	122.4 bp −$12.2K	125.0 bp −$62.5K
Sell MEXC live order book, 3 min ago	1.21 bp	1.9 bp −$2	9.2 bp −$92	27.8 bp −$2,784	55.2 bp −$27.6K

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	4.1376	+0.137%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1338	+0.044%	$2.1M	$12.6M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.1320	long leg	$104K	$54K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.1314	−0.014%	$399K	$18.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1386	+0.160%	$205K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.219%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1340	+0.049%	$110K	$493K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1393	+0.177%	$53K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1315	−0.011%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1436	+0.282%	$2.9M	$5.9M	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	4.1321	+0.003%	$348K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1426	+0.257%	$236.1M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1406	+0.209%	$210.8M	$428.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1410	+0.219%	$56.4M	$276.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1252	−0.164%	$235K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1412	+0.223%	$29.5M	$58.5M	75x	as long as short
MEXC NEAR_USDTshort	+0.0100%	8h	4.1420	+0.243%	$81.6M	$145.2M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.1450	+0.315%	$56.0M	$44.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1440	+0.291%	$68.9M	$126.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1420	+0.243%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1203	−0.282%	$7.6M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1358	+0.092%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1313	−0.016%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1340	+0.049%	$181K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1406	+0.209%	$204K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1410	+0.219%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1395	+0.182%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1420	+0.243%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1420	+0.243%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1385	+0.158%	$201K	$61K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1340	+0.049%	$307K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0150%	1h	4.1454	+0.326%	$7.5M	$37.1M	50x	as long as short
01 Exchange NEARUSD	+0.0160%	1h	4.1342	+0.054%	$12K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1360	+0.098%	$12.3M	$33.6M	75x	as long as short
Lighter RH NEAR	+0.0256%	1h	4.1472	+0.369%	$1.4M	$7.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0354%	1h	4.1422	+0.248%	$1.8M	$2.1M	25x	as long as short
Nado NEAR-PERP	+0.0355%	1h	4.1364	+0.108%	$1.8M	$3.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0377% / S −0.0324%	1h	4.1390	+0.171%	$276K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1344	+0.059%	$411K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1419	+0.240%	$1.7M	$2.8M	10x	as long as short
Lighter NEAR	+0.0720%	1h	4.1475	+0.375%	$15.3M	$23.1M	15x	as long as short
Backpack NEAR_USDC_PERP	+0.0741%	1h	4.1478	+0.383%	$1.4M	$5.7M	20x	as long as short
Hyperliquid NEAR	+0.0833%	1h	4.1462	+0.344%	$348.6M	$299.5M	10x	as long as short
Aftermath Perps NEARUSD	+0.0927%	1h	4.1332	+0.030%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1056%	8h	4.1400	+0.194%	$445K	$3.7M	75x	as long as short