Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.020%

Price spread now: Bybit against gTrade (Gains Network)+0.046%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$283as in the Price arb table

costs, in and out, $10k−$2912.906% of the position

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.087%+$9 on $10k

Price spread, last 4 days (all we have)−0.410%−$41 · spread now +0.046%, 7d avg −0.033%

Together, before fees−0.323%−$32 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 Bybit is 0.080% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) NEAR/USD	4.4559	L +0.0004% / S −0.0006%	pay 0.0001% / 1h	42m 19s	$166K	—	150x
Short	Bybit NEARUSDT	4.4580	0.0100	get 0.0100% / 8h	4h 42m	$223.3M	$425.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now +0.046%Rate

Funding earned: $20.11
Price spread: +0.046% → −0.033%: $7.97
Slippage, 4 orders: −$269.57
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$262.49
Costs to cover: 2.906%
Break-even: 98.4 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 17 min ago; Bybit: live order book, 2 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 gTrade (Gains Network) virtual book (oracle venue), 17 min ago	130.01 bp	135.0 bp −$135	875.9 bp −$8,759	9405.5 bp −$940.5K	doesn't fit
Sell Bybit live order book, 2 min ago	1.12 bp	9.4 bp −$9	17.8 bp −$178	40.9 bp −$4,094	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	4.4555	−0.010%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4653	+0.210%	$2.2M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4687	+0.287%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4620	+0.136%	$621K	$22.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USDlong	L +0.0004% / S −0.0006%	1h	4.4559	long leg	$166K	—	150x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.068%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4600	+0.091%	$118K	$518K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4642	+0.184%	$427K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4599	+0.090%	$272.7M	$1.11B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.4580	+0.046%	$223.3M	$425.1M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4550	−0.021%	$63.3M	$303.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	−0.021%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4559	−0.001%	$32.2M	$63.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4610	+0.114%	$75.2M	$147.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4590	+0.069%	$55.4M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4577	+0.039%	$73.3M	$130.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4560	+0.001%	—	$147.3M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4367	−0.432%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4481	−0.177%	$267K	$979K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4375	−0.415%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4230	−0.739%	$170K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4594	+0.078%	$241K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4620	+0.136%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4750	+0.428%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4600	+0.091%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4730	+0.383%	$466K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4590	+0.069%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4648	+0.198%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4621	+0.139%	$207K	$40K	3x	as long as short
Hyperliquid NEAR	+0.0185%	1h	4.4604	+0.100%	$368.4M	$327.0M	10x	as long as short
Extended NEAR-USD	+0.0192%	1h	4.4573	+0.030%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0214%	1h	4.4507	−0.118%	$1.4M	$6.6M	20x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4550	−0.021%	$14.1M	$33.2M	75x	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.4612	+0.118%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0303%	8h	4.4610	+0.114%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0339% / S −0.0217%	1h	4.4558	−0.003%	$249K	—	100x	as long as short
Lighter RH NEAR	+0.0456%	1h	4.4645	+0.192%	$1.6M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0503%	1h	4.4533	−0.059%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4700	+0.316%	$221K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0582%	1h	4.4611	+0.116%	$8.3M	$40.2M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0625%	1h	4.4625	+0.147%	$2.0M	$6.8M	25x	as long as short
Lighter NEAR	+0.0688%	1h	4.4668	+0.244%	$18.0M	$26.2M	15x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4521	−0.086%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4621	+0.138%	$564K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1563%	1h	4.4617	+0.130%	$6K	$12K	10x	as long as short