Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Bulk against GRVT−0.160%55s7-day average −0.041% · you buy dearer than you sell

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

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

costs, in and out, $10k−$560.558% of the position

Long on GRVT Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.988%−$99 · spread now −0.160%, 7d avg −0.041%

Together, before fees−0.967%+ Points / potential airdropGRVT: Active · farm board−$97 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.119% cheaper against GRVT than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.041%. The two prices were read 55 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	GRVT NEAR_USDT_Perp	4.2826	0.0100	pay 0.0100% / 8h	1m 58s	$1.4M	$1.3M	10x
Short	Bulk NEAR-USD	4.2757	0.0100	get 0.0013% / 1h	1m 58s	$244K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against GRVT. 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 GRVTbpFee BulkbpOrdersPrice spread, now −0.160%Rate

Funding earned: $0
Price spread: −0.160% → −0.041%: −$11.94
Slippage, 4 orders: −$39.84
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$67.78
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from GRVT: live order book, 1 min ago; Bulk: live order book, 12 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 GRVT live order book, 1 min ago	2.34 bp	15.6 bp −$16	36.4 bp −$364	doesn't fit	doesn't fit
Sell Bulk live order book, 12 min ago	11.72 bp	15.2 bp −$15	15.2 bp −$152	33.8 bp −$3,381	58.9 bp −$29.4K

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	4.2659	−0.389%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2786	−0.093%	$2.2M	$13.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2809	−0.040%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2746	−0.186%	$391K	$18.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2744	−0.190%	$203K	—	150x	as long as short
Variational Omni NEAR	+0.0032%	8h	4.2749	−0.179%	$7.8M	$18.5M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.306%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0037%	8h	4.2700	−0.294%	$217.3M	$421.8M	75x	as long as short
01 Exchange NEARUSD	+0.0064%	1h	4.2726	−0.233%	$13K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2690	−0.317%	$110K	$496K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.2754	−0.168%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2684	−0.332%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2784	−0.097%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2793	−0.077%	$401K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2730	−0.224%	$253.2M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2700	−0.294%	$60.7M	$285.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2750	−0.177%	$196K	$1.8M	10x	as long as short
Bulk NEAR-USDshort	+0.0100%	1h	4.2757	−0.160%	$244K	$2K	10x
Gate NEAR_USDT	+0.0100%	8h	4.2716	−0.256%	$30.8M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2750	−0.177%	$79.1M	$142.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2750	−0.177%	$55.8M	$43.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2703	−0.287%	$70.8M	$126.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2720	−0.247%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2741	−0.197%	$244K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perplong	+0.0100%	8h	4.2826	long leg	$1.4M	$1.3M	10x
ApeX Omni NEARUSDT	+0.0100%	1h	4.2820	−0.014%	$179K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2692	−0.312%	$194K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2800	−0.060%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2745	−0.189%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2750	−0.177%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2709	−0.272%	$3.8M	$16.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2741	−0.198%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2769	−0.134%	$7.6M	$37.4M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2780	−0.107%	$13.0M	$29.3M	75x	as long as short
Lighter RH NEAR	+0.0336%	1h	4.2812	−0.032%	$1.6M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0316%	1h	4.2751	−0.175%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2715	−0.259%	$418K	$1.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0405%	1h	4.2786	−0.093%	$1.9M	$2.8M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0449%	1h	4.2774	−0.121%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2887	+0.143%	$1.8M	$2.7M	10x	as long as short
Hyperliquid NEAR	+0.0585%	1h	4.2782	−0.102%	$364.5M	$301.3M	10x	as long as short
Nado NEAR-PERP	+0.0655%	1h	4.2690	−0.317%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0739%	8h	4.2820	−0.014%	$457K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1189%	1h	4.2798	−0.065%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1784%	1h	4.2880	+0.126%	$16.9M	$24.7M	15x	as long as short