Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: Orderly against dYdX−0.081%7-day average +0.016% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 3 days (all we have)+0.172%+$17 · spread now −0.081%, 7d avg +0.016%

Together, before fees+0.326%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.096% cheaper against dYdX than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of +0.016%). If the spread goes back, that is −$10 on $10k: about 3.2 days 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	4.3597	0	get 0.0000% / 1h	4m 37s	$107K	$70K	10x
Short	Orderly PERP_NEAR_USDC	4.3562	0.0100	get 0.0100% / 8h	6h 04m	$60K	$190K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.081%Rate

Funding earned: $21
Price spread: −0.081% → +0.016%: −$9.64
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.64
Costs to cover: 0.160%
Break-even: 8.5 days

Slippage unknown: dYdX: live order book, 64 min ago; Orderly: no order-book sample. Net counts fees only.

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	53.24 bp	59.6 bp −$60	62.5 bp −$625	85.4 bp −$8,538	138.1 bp −$69.1K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NEAR on 44 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	4.3543	−0.125%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3550	−0.108%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.3597	long leg	$107K	$70K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.3555	−0.097%	$557K	$19.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3545	−0.120%	$196K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.017%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3660	+0.144%	$114K	$486K	50x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3557	−0.091%	$8.4M	$18.4M	—	as long as short
Pacifica NEAR	+0.0100%	1h	4.3594	−0.007%	$409K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3620	+0.052%	$264.5M	$1.08B	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.3595	−0.005%	$219.4M	$417.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3600	+0.007%	$61.9M	$288.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3700	+0.236%	$208K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3555	−0.097%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3611	+0.032%	$31.5M	$63.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3620	+0.052%	$75.2M	$144.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3590	−0.016%	$53.9M	$43.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3607	+0.023%	$71.6M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3610	+0.029%	—	$143.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3788	+0.438%	$270K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3782	+0.423%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3780	+0.419%	$199K	$774K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3574	−0.053%	$206K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.3562	−0.081%	$60K	$190K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3610	+0.029%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3556	−0.094%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3630	+0.075%	$455K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3570	−0.062%	$3.8M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3533	−0.147%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3605	+0.018%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3575	−0.051%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0177%	8h	4.3579	−0.042%	$3.0M	$5.7M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0217%	1h	4.3554	−0.099%	$7.7M	$40.7M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0347% / S −0.0242%	1h	4.3547	−0.115%	$254K	—	100x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3712	+0.263%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0416%	1h	4.3588	−0.021%	$1.9M	$4.2M	25x	as long as short
Nado NEAR-PERP	+0.0424%	1h	4.3541	−0.129%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3705	+0.247%	$548K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3816	+0.502%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0784%	1h	4.3611	+0.032%	$1.6M	$7.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0831%	1h	4.3579	−0.042%	$1.5M	$6.3M	20x	as long as short
Hyperliquid NEAR	+0.0869%	1h	4.3608	+0.025%	$367.2M	$305.8M	10x	as long as short
Aftermath Perps NEARUSD	+0.1643%	1h	4.3769	+0.393%	$6K	$12K	10x	as long as short
Lighter NEAR	+0.1712%	1h	4.3693	+0.219%	$17.5M	$25.8M	15x	as long as short