Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h 0.000%

Price spread now: Bulk against MEXC−0.023%7-day average +0.018% · 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−$36as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on MEXC Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.197%+$20 · spread now −0.023%, 7d avg +0.018%

Together, before fees+0.197%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bulk is 0.041% cheaper against MEXC than usual: you would sell low and buy high (−$4 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	MEXC NEAR_USDT	4.4360	0.0196	pay 0.0196% / 8h	1h 31m	$81.2M	$147.8M	200x
Short	Bulk NEAR-USD	4.4350	0.0100	get 0.0013% / 1h	31m 37s	$253K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against MEXC. 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 MEXCbpFee BulkbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$20.16
Price spread: −0.023% → +0.018%: −$4.09
Slippage, 4 orders: −$24.76
Fee MEXC: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$56.01
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 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 MEXC live order book, 2 min ago	1.13 bp	1.1 bp −$1	2.7 bp −$27	17.2 bp −$1,718	67.6 bp −$33.8K
Sell Bulk live order book, 12 min ago	11.15 bp	14.6 bp −$15	14.6 bp −$146	16.4 bp −$1,644	40.5 bp −$20.2K

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	4.4223	−0.309%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4316	−0.099%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4240	−0.271%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.650%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4290	−0.158%	$112K	$491K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4318	−0.095%	$224.8M	$435.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4310	−0.113%	$62.6M	$298.0M	50x	as long as short
Bulk NEAR-USDshort	+0.0100%	1h	4.4350	−0.023%	$253K	−$0	10x
Gate NEAR_USDT	+0.0100%	8h	4.4310	−0.113%	$35.5M	$61.4M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4340	−0.045%	$53.5M	$46.3M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4249	−0.250%	$73.2M	$127.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4297	−0.141%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4392	+0.073%	$259K	$964K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4380	+0.045%	$167K	$805K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4289	−0.160%	$297K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4277	−0.187%	$59K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4330	−0.068%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4320	−0.090%	$465K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4310	−0.113%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0105%	8h	4.4310	−0.113%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0114%	8h	4.4327	−0.075%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.4317	−0.096%	$206K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0192%	1h	4.4295	−0.147%	$5K	$53K	10x	as long as short
BingX NEAR-USDT	+0.0194%	8h	4.4250	−0.248%	—	$143.9M	—	as long as short
MEXC NEAR_USDTlong	+0.0196%	8h	4.4360	long leg	$81.2M	$147.8M	200x
Binance NEARUSDT	+0.0200%	8h	4.4369	+0.021%	$270.8M	$1.09B	75x	as long as short
Extended NEAR-USD	+0.0224%	1h	4.4254	−0.238%	$3.7M	$18.5M	25x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.4276	−0.189%	$1.1M	$25.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0314%	8h	4.4410	+0.113%	$13.7M	$32.8M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0197%	1h	4.4235	−0.281%	$235K	—	100x	as long as short
Aster NEARUSDT	+0.0318%	8h	4.4340	−0.045%	$2.8M	$5.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4436	+0.171%	$2.3M	$16.7M	50x	as long as short
01 Exchange NEARUSD	+0.0456%	1h	4.4285	−0.169%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0466%	1h	4.4341	−0.043%	$1.4M	$6.8M	20x	as long as short
Hyperliquid NEAR	+0.0493%	1h	4.4354	−0.013%	$362.7M	$312.6M	10x	as long as short
Nado NEAR-PERP	+0.0602%	1h	4.4245	−0.259%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0659%	1h	4.4289	−0.161%	$7.3M	$38.4M	50x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4290	−0.158%	$225K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0880%	1h	4.4311	−0.110%	$1.9M	$13.1M	25x	as long as short
Lighter NEAR	+0.0888%	1h	4.4377	+0.039%	$17.4M	$25.1M	15x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.4377	+0.038%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4771	+0.927%	$1.8M	$2.5M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4336	−0.055%	$409K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4279	−0.183%	$668K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1272%	1h	4.4404	+0.100%	$6K	$12K	10x	as long as short