Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.029%

Price spread now: OKX against dYdX−0.100%60s7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1791.787% of the position

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 4 days (all we have)+0.250%+$25 · spread now −0.100%, 7d avg −0.020%

Together, before fees+0.444%+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.080% cheaper against dYdX than usual: you would sell low and buy high (spread −0.100% now, against its 7-day average of −0.020%). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day). The two prices were read 60 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	dYdX NEAR-USD	4.4905	0	get 0.0000% / 1h	51m 45s	$110K	$53K	10x
Short	OKX NEAR-USDT-SWAP	4.4860	0.0100	get 0.0100% / 8h	5h 51m	$64.2M	$298.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.100%Rate

Funding earned: $21
Price spread: −0.100% → −0.020%: −$7.98
Slippage, 4 orders: −$158.7
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$165.68
Costs to cover: 1.787%
Break-even: 62.2 days

Slippage from dYdX: live order book, 60 min ago; OKX: live order book, 5 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, 60 min ago	75.26 bp	81.4 bp −$81	115.1 bp −$1,151	183.2 bp −$18.3K	557.5 bp −$278.7K
Sell OKX live order book, 5 min ago	1.11 bp	8.4 bp −$8	13.8 bp −$138	38.8 bp −$3,881	doesn't fit

NEAR on 45 exchanges

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
Kraken Futures PF_NEARUSD	−0.0235%	1h	4.4938	+0.074%	$7.4M	$36.9M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4959	+0.121%	$2K	—	20x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.4905	long leg	$110K	$53K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.4914	+0.020%	$845K	$26.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4768	−0.305%	$168K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.783%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4950	+0.101%	$124K	$505K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4910	+0.012%	$2.6M	$4.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4893	−0.026%	$272.5M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4874	−0.069%	$231.7M	$428.0M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAPshort	+0.0100%	8h	4.4860	−0.100%	$64.2M	$298.5M	50x
Bulk NEAR-USD	+0.0100%	1h	4.4950	+0.101%	$268K	$12K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4877	−0.062%	$39.8M	$61.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4890	−0.033%	$75.9M	$167.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4890	−0.033%	$53.3M	$44.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4840	−0.144%	$74.3M	$126.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4870	−0.078%	—	$77.3M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4874	−0.070%	$8.9M	$16.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4966	+0.136%	$266K	$867K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4729	−0.392%	$1.5M	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4640	−0.590%	$166K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4995	+0.201%	$281K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4971	+0.147%	$58K	$269K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5040	+0.301%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4945	+0.089%	$5K	$40K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5020	+0.256%	$467K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4980	+0.167%	$3.4M	$7.9M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4859	−0.103%	$32K	$53	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4850	−0.122%	$3.8M	$15.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4950	+0.101%	$209K	$38K	3x	as long as short
Lighter NEAR	+0.0184%	1h	4.4905	−0.001%	$17.5M	$23.3M	15x	as long as short
Nado NEAR-PERP	+0.0197%	1h	4.4985	+0.179%	$1.7M	$3.1M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4850	−0.122%	$12.9M	$32.5M	75x	as long as short
01 Exchange NEARUSD	+0.0248%	1h	4.4949	+0.098%	$13K	$4K	10x	as long as short
Hyperliquid NEAR	+0.0258%	1h	4.4927	+0.049%	$362.0M	$314.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0341% / S −0.0226%	1h	4.4925	+0.045%	$263K	—	100x	as long as short
Arcus NEAR-USD	+0.0343%	1h	4.4910	+0.012%	$227K	$1.4M	10x	as long as short
Lighter RH NEAR	+0.0448%	1h	4.4942	+0.083%	$1.6M	$5.8M	10x	as long as short
RISEx NEAR/USDC	+0.0489%	1h	4.4854	−0.113%	$633K	$1.6M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0504%	1h	4.5001	+0.214%	$2.3M	$17.6M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0647%	1h	4.4998	+0.207%	$1.1M	$7.0M	20x	as long as short
Phoenix NEAR	+0.0741%	1h	4.5045	+0.312%	$1.7M	$2.7M	10x	as long as short
Pacifica NEAR	+0.0851%	1h	4.4903	−0.003%	$422K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1085%	1h	4.5007	+0.228%	$1.9M	$13.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.1149%	1h	4.4890	−0.033%	$6K	$6K	10x	as long as short