Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0491%/8h= −53.8% APRpaid last 24h −0.091%

Price spread now: SunX against Nado+0.256%7-day average +0.157% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1491.495% of the position

Long on Nado Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.097%−$10 on $10k

Price spread, last 4 days (all we have)+0.305%+$31 · spread now +0.256%, 7d avg +0.157%

Together, before fees+0.208%+ Points / potential airdropNado: Active · farm board+$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.099% dearer against Nado than usual: you sell high and buy low (spread +0.256% now, against its 7-day average of +0.157%): +$10 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 3 days (−0.097% in total) that is about 3.5 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.097% in total (about -10.4% 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	4.3269	0.0591	pay 0.0074% / 1h	22m 13s	$1.8M	$3.1M	10x
Short	SunX NEAR-USDT	4.3380	0.0100	get 0.0100% / 8h	3h 22m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.256%Rate

Funding earned: −$103.09
Price spread: +0.256% → +0.157%: $9.92
Slippage, 4 orders: −$134.49
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$242.66
Costs to cover: 1.495%
Break-even: never at this rate

Slippage from Nado: live order book, 2 min ago; SunX: live order book, 2 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, 2 min ago	0.81 bp	6.2 bp −$6	17.2 bp −$172	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	31.04 bp	84.2 bp −$84	doesn't fit	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	4.3274	+0.010%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3189	−0.185%	$106K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3300	+0.071%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.297%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3361	+0.212%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3210	−0.137%	$109K	$505K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3310	+0.094%	$265.4M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3272	+0.006%	$214.2M	$428.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3270	+0.002%	$61.3M	$290.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.044%	$246K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3266	−0.008%	$31.9M	$61.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3310	+0.094%	$73.6M	$145.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3300	+0.071%	$53.7M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3274	+0.011%	$71.4M	$128.5M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3280	+0.025%	—	$145.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3627	+0.827%	$8.4M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3622	+0.815%	$255K	$947K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3500	+0.533%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3640	+0.857%	$168K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3298	+0.066%	$276K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3349	+0.184%	$57K	$246K	20x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.3380	+0.256%	$2K	$1.4M	20x
HTX NEAR-USDT	+0.0100%	8h	4.3410	+0.325%	$471K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3300	+0.071%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3249	−0.046%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3336	+0.154%	$201K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	−0.021%	$13.4M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3221	−0.111%	$406K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0276%	8h	4.3240	−0.068%	$873K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0323% / S −0.0198%	1h	4.3269	−0.002%	$233K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.3300	+0.071%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0361%	1h	4.3305	+0.083%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3250	−0.044%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0570%	1h	4.3322	+0.122%	$1.3M	$6.7M	20x	as long as short
Nado NEAR-PERPlong	+0.0591%	1h	4.3269	long leg	$1.8M	$3.1M	10x
Hyperliquid NEAR	+0.0602%	1h	4.3314	+0.103%	$354.7M	$313.7M	10x	as long as short
Extended NEAR-USD	+0.0624%	1h	4.3292	+0.052%	$3.8M	$20.0M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3300	+0.071%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3317	+0.109%	$7.6M	$39.3M	50x	as long as short
Lighter RH NEAR	+0.0896%	1h	4.3331	+0.143%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3721	+1.044%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1104%	1h	4.3384	+0.266%	$17.5M	$25.0M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3283	+0.032%	$687K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1555%	1h	4.3415	+0.337%	$5K	$13K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1667%	1h	4.3375	+0.244%	$1.9M	$9.4M	25x	as long as short