Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.019%

Price spread now: Injective against edgeX−5.010%7-day average +0.491% · you buy dearer than you sell

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

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)+6.763%+$676 · spread now −5.010%, 7d avg +0.491%

Together, before fees+6.770%+ Points / potential airdropedgeX: Active · farm board+$677 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.501% cheaper against edgeX than usual: you would sell low and buy high (−$550 if the spread goes back to its 7-day average of +0.491%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NEARUSDC	4.3594	0.0100	pay 0.0050% / 4h	3h 52m	$253K	$893K	20x
Short	Injective NEAR/USDC PERP	4.1410	0.0033	get 0.0004% / 1h	52m 45s	$578	$301K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee InjectivebpOrdersPrice spread, now −5.010%Rate

Funding earned: −$14
Price spread: −5.010% → +0.491%: −$550.08
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$573.1
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 36 min ago; Injective: 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 edgeX live order book, 36 min ago	8.05 bp	13.7 bp −$14	56.3 bp −$563	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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
Kraken Futures PF_NEARUSD	−0.0433%	1h	4.3635	+0.095%	$7.2M	$38.6M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.3629	+0.081%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3616	+0.051%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3618	+0.055%	$163K	—	150x	as long as short
Injective NEAR/USDC PERPshort	+0.0033%	1h	4.1410	−5.010%	$578	$301K	12x
Phemex NEARUSDT	+0.0085%	8h	4.3650	+0.128%	$3.5M	$8.2M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3650	+0.128%	$119K	$500K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3610	+0.036%	$220.0M	$429.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3610	+0.036%	$61.6M	$296.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3650	+0.128%	$229K	$1.5M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk NEAR-USD	+0.0100%	1h	4.3688	+0.215%	$252K	$3K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3643	+0.112%	$36.2M	$61.6M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3650	+0.128%	$52.9M	$45.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3604	+0.023%	$72.1M	$127.6M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3578	−0.037%	$8.9M	$18.5M	—	as long as short
edgeX NEARUSDClong	+0.0100%	4h	4.3594	long leg	$253K	$893K	20x
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3697	+0.235%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3570	−0.055%	$166K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3650	+0.128%	$272K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3666	+0.165%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3700	+0.243%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3645	+0.117%	$5K	$50K	10x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3628	+0.079%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3633	+0.089%	$3.6M	$16.2M	25x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.3640	+0.105%	$203K	$40K	3x	as long as short
MEXC NEAR_USDT	+0.0132%	8h	4.3670	+0.174%	$90.3M	$152.8M	200x	as long as short
Binance NEARUSDT	+0.0132%	8h	4.3655	+0.141%	$263.5M	$1.09B	75x	as long as short
BingX NEAR-USDC	+0.0144%	8h	4.3630	+0.082%	—	$6.6M	—	as long as short
Kalshi KXNEARPERP	+0.0159%	8h	4.3667	+0.167%	$918K	$25.1M	2.2x	as long as short
Hyperliquid NEAR	+0.0175%	1h	4.3644	+0.114%	$351.8M	$316.4M	10x	as long as short
Aster NEARUSDT	+0.0209%	8h	4.3654	+0.138%	$2.7M	$4.8M	50x	as long as short
BloFin NEAR-USDT	+0.0252%	8h	4.3650	+0.128%	$13.4M	$32.2M	75x	as long as short
01 Exchange NEARUSD	+0.0312%	1h	4.3654	+0.137%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0331%	1h	4.3643	+0.113%	$1.7M	$3.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0345% / S −0.0246%	1h	4.3640	+0.105%	$255K	—	100x	as long as short
Lighter RH NEAR	+0.0376%	1h	4.3707	+0.259%	$1.5M	$6.4M	10x	as long as short
HTX NEAR-USDT	+0.0430%	8h	4.3760	+0.381%	$463K	$3.8M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3744	+0.344%	$2.3M	$17.1M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0551%	1h	4.3690	+0.220%	$1.1M	$7.2M	20x	as long as short
Lighter NEAR	+0.0648%	1h	4.3705	+0.255%	$17.2M	$23.8M	15x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.3646	+0.120%	$594K	$1.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0689%	1h	4.3689	+0.218%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0701%	1h	4.3636	+0.096%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.3754	+0.367%	$1.8M	$2.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1095%	1h	4.3680	+0.198%	$5K	$7K	10x	as long as short