Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0254%/8h= −27.9% APRpaid last 24h −0.062%

Price spread now: edgeX against Nado−0.184%7-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−$61as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+1.023%+$102 · spread now −0.184%, 7d avg +0.035%

Together, before fees+0.963%+ Points / potential airdropNado: Active · edgeX: Active · farm board+$96 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and edgeX is 0.220% cheaper against Nado than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.060% in total (about -7.0% 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	4.1380	0.0354	pay 0.0044% / 1h	3m 19s	$1.8M	$3.6M	10x
Short	edgeX NEARUSDC	4.1304	0.0100	get 0.0050% / 4h	2h 03m	$235K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.184%Rate

Funding earned: −$53.43
Price spread: −0.184% → +0.035%: −$21.96
Slippage, 4 orders: −$23.03
Fee Nado: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$114.42
Costs to cover: 0.390%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; edgeX: live order book, 1 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	0.72 bp	8.7 bp −$9	20.8 bp −$208	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	7.25 bp	12.0 bp −$12	32.1 bp −$321	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	4.1343	−0.089%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1338	−0.101%	$2.1M	$12.6M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1406	+0.064%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1364	−0.039%	$397K	$18.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1355	−0.059%	$205K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.072%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1370	−0.024%	$110K	$490K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1355	−0.060%	$53K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1387	+0.016%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1424	+0.105%	$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	4.1429	+0.118%	$349K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1350	−0.072%	$235.7M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1324	−0.135%	$210.5M	$428.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1340	−0.097%	$56.4M	$275.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1150	−0.556%	$234K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1361	−0.046%	$29.4M	$58.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1360	−0.048%	$81.1M	$145.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1390	+0.024%	$55.9M	$44.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1345	−0.085%	$68.7M	$126.8M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1340	−0.097%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1203	−0.427%	$7.6M	$18.6M	—	as long as short
edgeX NEARUSDCshort	+0.0100%	4h	4.1304	−0.184%	$235K	$1.2M	20x
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1313	−0.162%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1340	−0.097%	$181K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1405	+0.060%	$204K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1430	+0.121%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1349	−0.075%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1360	−0.048%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1375	−0.012%	$3.8M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1340	−0.097%	$200K	$61K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1410	+0.072%	$308K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0150%	1h	4.1396	+0.038%	$7.5M	$37.1M	50x	as long as short
01 Exchange NEARUSD	+0.0160%	1h	4.1401	+0.051%	$12K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0185%	1h	4.1371	−0.022%	$1.8M	$2.1M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1290	−0.217%	$12.2M	$33.6M	75x	as long as short
Lighter RH NEAR	+0.0256%	1h	4.1479	+0.239%	$1.4M	$7.2M	10x	as long as short
Nado NEAR-PERPlong	+0.0354%	1h	4.1380	long leg	$1.8M	$3.6M	10x
GMX NEAR/USD [ETH-USDC]	L +0.0377% / S −0.0324%	1h	4.1347	−0.080%	$276K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1401	+0.051%	$412K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1315	−0.157%	$1.7M	$2.8M	10x	as long as short
Lighter NEAR	+0.0720%	1h	4.1490	+0.265%	$15.3M	$23.1M	15x	as long as short
Backpack NEAR_USDC_PERP	+0.0743%	1h	4.1446	+0.159%	$1.4M	$5.7M	20x	as long as short
Hyperliquid NEAR	+0.0844%	1h	4.1403	+0.056%	$348.0M	$299.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.0919%	1h	4.1306	−0.179%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1063%	8h	4.1450	+0.169%	$446K	$3.7M	75x	as long as short