Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0974%/8h= +106.6% APRpaid last 24h +0.177%

Price spread now: Hyperliquid against MEXC+0.155%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs+$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.371%+$37 on $10k

Price spread, last 7 days−0.151%−$15 · spread now +0.155%, 7d avg +0.095%

Together, before fees+0.219%+ Points / potential airdropHyperliquid: Season 2 · farm board+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Hyperliquid is 0.060% dearer against MEXC than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.095%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.371% in total (about 19.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NEAR_USDT	4.1420	0.0100	pay 0.0100% / 8h	2h 30m	$80.8M	$143.1M	200x
Short	Hyperliquid NEAR	4.1484	0.1074	get 0.0134% / 1h	30m 25s	$349.0M	$301.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.155%Rate

Funding earned: $204.48
Price spread: +0.155% → +0.095%: $5.96
Slippage, 4 orders: −$12.99
Fee MEXC: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $188.45
Costs to cover: 0.220%
Break-even: 0.5 days

Slippage from MEXC: live order book, 4 min ago; Hyperliquid: live order book, 4 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, 4 min ago	2.40 bp	2.4 bp −$2	2.9 bp −$29	11.9 bp −$1,189	35.2 bp −$17.6K
Sell Hyperliquid live order book, 4 min ago	2.16 bp	7.4 bp −$7	11.0 bp −$110	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	4.1407	−0.032%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1562	+0.343%	$2.1M	$12.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1392	−0.066%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1573	+0.369%	$412K	$19.1M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.1601	+0.437%	$1.8M	$2.1M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1427	+0.016%	$205K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.0730	−1.666%	$569	$239K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1410	−0.024%	$108K	$490K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1403	−0.041%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1433	+0.032%	$2.9M	$5.9M	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	4.1425	+0.012%	$366K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1430	+0.024%	$235.9M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1390	−0.072%	$210.9M	$428.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1390	−0.072%	$56.6M	$277.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1550	+0.314%	$237K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1408	−0.029%	$29.5M	$58.1M	75x	as long as short
MEXC NEAR_USDTlong	+0.0100%	8h	4.1420	long leg	$80.8M	$143.1M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.1430	+0.024%	$56.0M	$45.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1403	−0.041%	$69.0M	$127.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1420	0.000%	—	$136.5M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1354	−0.160%	$7.6M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1548	+0.309%	$236K	$1.3M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1528	+0.261%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1560	+0.338%	$183K	$790K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1431	+0.027%	$195K	$3.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1573	+0.369%	$54K	$159K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1620	+0.483%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1530	+0.266%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1540	+0.290%	$3.8M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1397	−0.056%	$3.7M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1566	+0.353%	$201K	$65K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1440	+0.048%	$307K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0149%	1h	4.1546	+0.305%	$7.1M	$36.7M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1610	+0.459%	$12.3M	$33.9M	75x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.1431	+0.027%	$12K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0344%	1h	4.1390	−0.072%	$1.8M	$3.6M	10x	as long as short
Lighter RH NEAR	+0.0352%	1h	4.1463	+0.104%	$1.4M	$7.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0317%	1h	4.1592	+0.415%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1430	+0.025%	$414K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1650	+0.555%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0808%	1h	4.1588	+0.406%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0880%	1h	4.1486	+0.158%	$15.4M	$22.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.0997%	1h	4.1447	+0.066%	$5K	$11K	10x	as long as short
Hyperliquid NEARshort	+0.1074%	1h	4.1484	+0.155%	$349.0M	$301.6M	10x
HTX NEAR-USDT	+0.1122%	8h	4.1670	+0.604%	$448K	$3.8M	75x	as long as short