Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.046%

Price spread now: Injective against Gate−4.257%7-day average +1.162% · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 3 days (all we have)+7.050%+$705 · spread now −4.257%, 7d avg +1.162%

Together, before fees+7.089%+$709 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 5.419% cheaper against Gate than usual: you would sell low and buy high (−$542 if the spread goes back to its 7-day average of +1.162%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NEAR_USDT	4.3251	0.0100	pay 0.0100% / 8h	52m 54s	$30.6M	$58.5M	75x
Short	Injective NEAR/USDC PERP	4.1410	0.0033	get 0.0004% / 1h	52m 54s	$578	$302K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −4.257%Rate

Funding earned: −$14
Price spread: −4.257% → +1.162%: −$541.88
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$570.9
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	2.88 bp	14.7 bp −$15	17.7 bp −$177	34.6 bp −$3,458	57.4 bp −$28.7K
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
Reya NEARRUSDPERP	−0.0171%	1h	4.3304	+0.123%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.3355	+0.240%	$2.2M	$13.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3392	+0.325%	$112K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3363	+0.259%	$415K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3352	+0.234%	$209K	—	150x	as long as short
Injective NEAR/USDC PERPshort	+0.0033%	1h	4.1410	−4.257%	$578	$302K	12x
Popdex NEARUSDT	+0.0096%	1h	4.3340	+0.206%	$108K	$495K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3395	+0.333%	$31K	$647	10x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3409	+0.364%	$407K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3249	−0.005%	$255.2M	$1.07B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.3201	−0.116%	$222.9M	$420.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3210	−0.095%	$61.7M	$287.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3350	+0.229%	$199K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3063	−0.435%	$245K	$2K	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.3251	long leg	$30.6M	$58.5M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.3250	−0.002%	$81.0M	$139.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3270	+0.044%	$56.8M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3236	−0.035%	$72.1M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3230	−0.049%	—	$138.1M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3159	−0.212%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3254	+0.007%	$270K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3290	+0.091%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3230	−0.049%	$181K	$789K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3369	+0.273%	$209K	$3.3M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3348	+0.224%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3390	+0.321%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3327	+0.176%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3330	+0.183%	$4.0M	$8.1M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3222	−0.067%	$4.4M	$15.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3345	+0.217%	$209K	$62K	3x	as long as short
Aster NEARUSDT	+0.0104%	8h	4.3302	+0.119%	$3.1M	$5.5M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0117%	1h	4.3341	+0.208%	$7.6M	$36.8M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3310	+0.136%	$13.0M	$32.7M	75x	as long as short
01 Exchange NEARUSD	+0.0248%	1h	4.3372	+0.280%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0258%	1h	4.3370	+0.275%	$1.9M	$2.3M	25x	as long as short
Lighter RH NEAR	+0.0384%	1h	4.3388	+0.317%	$1.6M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0392% / S −0.0343%	1h	4.3342	+0.211%	$294K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.3374	+0.283%	$418K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0463%	1h	4.3418	+0.386%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0605%	1h	4.3336	+0.197%	$1.3M	$5.6M	20x	as long as short
Nado NEAR-PERP	+0.0720%	1h	4.3318	+0.155%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0905%	8h	4.3510	+0.599%	$464K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.1153%	1h	4.3216	−0.081%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1480%	1h	4.3411	+0.370%	$376.1M	$296.2M	10x	as long as short
Lighter NEAR	+0.2200%	1h	4.3457	+0.476%	$16.7M	$23.6M	15x	as long as short