Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h −0.178%

Price spread now: SunX against Hyperliquid−0.185%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1491.493% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.339%−$34 on $10k

Price spread, last 3 days (all we have)+0.399%+$40 · spread now −0.185%, 7d avg +0.018%

Together, before fees+0.059%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and SunX is 0.203% cheaper against Hyperliquid than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid NEAR	4.1617	0.0269	pay 0.0034% / 1h	37m 11s	$350.2M	$297.7M	10x
Short	SunX NEAR-USDT	4.1540	0.0100	get 0.0100% / 8h	1h 37m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Hyperliquid. 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 HyperliquidbpFee SunXbpOrdersPrice spread, now −0.185%Rate

Funding earned: −$35.53
Price spread: −0.185% → +0.018%: −$20.35
Slippage, 4 orders: −$132.27
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$205.14
Costs to cover: 1.493%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; SunX: live order book, 7 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 Hyperliquid live order book, 7 min ago	0.96 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	31.18 bp	82.7 bp −$83	doesn't fit	doesn't fit	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	4.1467	−0.359%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1467	−0.360%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.497%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1536	−0.195%	$106K	$56K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1541	−0.183%	$419K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1524	−0.223%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1560	−0.138%	$7.6M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0056%	1h	4.1530	−0.209%	$12K	$7K	10x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1576	−0.099%	$1.4M	$6.9M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1510	−0.257%	$111K	$482K	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	4.1540	−0.185%	$53K	$155K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1523	−0.225%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1523	−0.226%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1538	−0.191%	$359K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1546	−0.171%	$237.5M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1540	−0.185%	$211.6M	$422.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1550	−0.161%	$56.9M	$274.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1540	−0.185%	$308K	$1.6M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1500	−0.281%	$236K	$4K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1566	−0.123%	$29.8M	$57.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1560	−0.137%	$82.0M	$141.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1540	−0.185%	$54.8M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1566	−0.123%	$69.1M	$125.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1560	−0.137%	—	$136.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1460	−0.377%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1467	−0.361%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1454	−0.391%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1510	−0.257%	$182K	$789K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1525	−0.221%	$199K	$3.1M	10x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.1540	−0.185%	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.1529	−0.211%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1520	−0.233%	$3.8M	$8.1M	50x	as long as short
Lighter NEAR	+0.0104%	1h	4.1582	−0.085%	$15.3M	$22.5M	15x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1512	−0.252%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1520	−0.233%	$200K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1510	−0.257%	$12.3M	$33.3M	75x	as long as short
Hyperliquid NEARlong	+0.0269%	1h	4.1617	long leg	$350.2M	$297.7M	10x
RISEx NEAR/USDC	+0.0364%	1h	4.1538	−0.190%	$408K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0379% / S −0.0327%	1h	4.1522	−0.229%	$279K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0418%	1h	4.1609	−0.019%	$1.2M	$5.7M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0496%	1h	4.1569	−0.115%	$1.8M	$2.2M	25x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1571	−0.111%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0560%	1h	4.1481	−0.327%	$1.8M	$3.5M	10x	as long as short
Aftermath Perps NEARUSD	+0.0854%	1h	4.1521	−0.232%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0990%	8h	4.1640	+0.055%	$449K	$3.6M	75x	as long as short