Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0448%/8h= −49.1% APRpaid last 24h −0.066%

Price spread now: Binance against Nado−0.223%48s7-day average −0.035% · 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−$300.299% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.069%−$7 on $10k

Price spread, last 7 days+0.135%+$13 · spread now −0.223%, 7d avg −0.035%

Together, before fees+0.065%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Binance is 0.188% cheaper against Nado than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.035%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.069% in total (about -8.0% 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	Nado NEAR-PERP	4.1793	0.0548	pay 0.0069% / 1h	27m 46s	$1.8M	$3.5M	10x
Short	Binance NEARUSDT	4.1700	0.0100	get 0.0100% / 8h	1h 27m	$238.9M	$1.07B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Nado. 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 NadobpFee BinancebpOrdersPrice spread, now −0.223%Rate

Funding earned: −$94.18
Price spread: −0.223% → −0.035%: −$18.83
Slippage, 4 orders: −$12.87
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$142.87
Costs to cover: 0.299%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Binance: live order book, 16 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 Nado live order book, 1 min ago	1.92 bp	9.1 bp −$9	18.7 bp −$187	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	1.20 bp	7.7 bp −$8	11.1 bp −$111	24.1 bp −$2,409	90.9 bp −$45.5K

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	4.1746	−0.114%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1636	−0.376%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.917%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1682	−0.265%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1684	−0.261%	$430K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1768	−0.059%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1766	−0.065%	$7.6M	$36.8M	50x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1750	−0.103%	$1.5M	$7.0M	10x	as long as short
01 Exchange NEARUSD	+0.0096%	1h	4.1794	+0.002%	$12K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1800	+0.016%	$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	4.1744	−0.118%	$53K	$158K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1694	−0.237%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1729	−0.153%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1708	−0.204%	$360K	$1.2M	10x	as long as short
Binance NEARUSDTshort	+0.0100%	8h	4.1700	−0.223%	$238.9M	$1.07B	75x
Bybit NEARUSDT	+0.0100%	8h	4.1680	−0.271%	$212.7M	$423.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1670	−0.295%	$57.5M	$275.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1730	−0.151%	$240K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1699	−0.226%	$29.9M	$57.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1700	−0.223%	$82.1M	$141.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1720	−0.175%	$54.9M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1688	−0.252%	$69.0M	$125.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1680	−0.271%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1650	−0.343%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1758	−0.084%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1588	−0.491%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1730	−0.151%	$174K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1810	+0.040%	$204K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1860	+0.160%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1741	−0.125%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1740	−0.127%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1600	−0.462%	$237K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1675	−0.282%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1742	−0.123%	$201K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1650	−0.343%	$12.3M	$31.6M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0301%	1h	4.1785	−0.020%	$1.8M	$2.2M	25x	as long as short
Hyperliquid NEAR	+0.0349%	1h	4.1760	−0.080%	$352.5M	$299.0M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1761	−0.078%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1763	−0.073%	$282K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0435%	1h	4.1778	−0.036%	$1.2M	$5.7M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1800	+0.016%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERPlong	+0.0548%	1h	4.1793	long leg	$1.8M	$3.5M	10x
Lighter NEAR	+0.0584%	1h	4.1795	+0.005%	$16.0M	$23.3M	15x	as long as short
Aftermath Perps NEARUSD	+0.0868%	1h	4.1730	−0.151%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0969%	8h	4.1750	−0.103%	$446K	$3.6M	75x	as long as short