Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h −0.046%

Price spread now: MEXC against Injective+1.666%7-day average −1.151% · you sell dearer than you buy

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

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 3 days (all we have)−4.494%−$449 · spread now +1.666%, 7d avg −1.151%

Together, before fees−4.541%−$454 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 MEXC is 2.818% dearer against Injective than usual: you sell high and buy low: +$282 more if the spread goes back to its 7-day average of −1.151%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NEAR/USDC PERP	4.1410	−0.0002	get 0.0000% / 1h	19m 00s	$578	$302K	12x
Short	MEXC NEAR_USDT	4.2100	0.0100	get 0.0100% / 8h	1h 19m	$83.7M	$142.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. 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 InjectivebpFee MEXCbpOrdersPrice spread, now +1.666%Rate

Funding earned: $21.5
Price spread: +1.666% → −1.151%: $281.77
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: $303.24
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 5 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell MEXC live order book, 5 min ago	1.19 bp	2.9 bp −$3	4.3 bp −$43	15.4 bp −$1,535	51.7 bp −$25.8K

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	4.2054	+1.556%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.2090	+1.642%	$2.2M	$12.8M	50x	as long as short
Injective NEAR/USDC PERPlong	−0.0002%	1h	4.1410	long leg	$578	$302K	12x
dYdX NEAR-USD	0.0000%	1h	4.2114	+1.700%	$109K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2105	+1.678%	$431K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2095	+1.654%	$208K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.2077	+1.610%	$7.7M	$36.6M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2060	+1.570%	$112K	$483K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2110	+1.690%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2167	+1.829%	$3.0M	$5.7M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2117	+1.707%	$364K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2101	+1.668%	$241.4M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2077	+1.611%	$214.8M	$422.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2080	+1.618%	$58.3M	$278.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2060	+1.570%	$226K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2119	+1.712%	$30.3M	$57.8M	75x	as long as short
MEXC NEAR_USDTshort	+0.0100%	8h	4.2100	+1.666%	$83.7M	$142.6M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.2130	+1.739%	$55.4M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2103	+1.674%	$69.7M	$125.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2100	+1.666%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1950	+1.303%	$7.8M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1992	+1.405%	$240K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2030	+1.497%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2020	+1.473%	$176K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2091	+1.645%	$205K	$3.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2066	+1.584%	$54K	$182K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2130	+1.739%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2050	+1.546%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2080	+1.618%	$3.9M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2042	+1.526%	$240K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2096	+1.655%	$3.9M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2069	+1.592%	$203K	$62K	3x	as long as short
01 Exchange NEARUSD	+0.0112%	1h	4.2097	+1.659%	$12K	$7K	10x	as long as short
Lighter RH NEAR	+0.0128%	1h	4.2117	+1.707%	$1.5M	$7.0M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0154%	1h	4.2104	+1.676%	$1.9M	$2.2M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2120	+1.715%	$12.4M	$31.8M	75x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.2103	+1.673%	$413K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0382% / S −0.0327%	1h	4.2088	+1.638%	$283K	—	100x	as long as short
Hyperliquid NEAR	+0.0405%	1h	4.2176	+1.850%	$357.0M	$293.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0499%	1h	4.2147	+1.780%	$1.2M	$5.7M	20x	as long as short
Nado NEAR-PERP	+0.0513%	1h	4.2037	+1.514%	$1.9M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.2035	+1.509%	$1.7M	$2.7M	10x	as long as short
Lighter NEAR	+0.0800%	1h	4.2205	+1.921%	$16.1M	$23.3M	15x	as long as short
Aftermath Perps NEARUSD	+0.0949%	1h	4.1943	+1.287%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0953%	8h	4.2190	+1.884%	$453K	$3.6M	75x	as long as short