Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0099%/8h= −10.9% APRpaid last 24h −0.026%

Price spread now: dYdX against Orderly−0.368%7-day average −0.016% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 3 days (all we have)+0.277%+$28 · spread now −0.368%, 7d avg −0.016%

Together, before fees+0.123%+$12 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 dYdX is 0.353% cheaper against Orderly than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of −0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.3323	0.0099	pay 0.0099% / 8h	6h 47m	$57K	$162K	20x
Short	dYdX NEAR-USD	4.3163	0	get 0.0000% / 1h	47m 45s	$108K	$69K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Orderly. 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 OrderlybpFee dYdXbpOrdersPrice spread, now −0.368%Rate

Funding earned: −$20.82
Price spread: −0.368% → −0.016%: −$35.27
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$72.09
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; dYdX: live order book, 21 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell dYdX live order book, 21 min ago	53.24 bp	58.2 bp −$58	58.2 bp −$582	82.6 bp −$8,262	132.5 bp −$66.2K

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.3228	−0.219%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3281	−0.097%	$2.2M	$13.4M	50x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.3163	−0.368%	$108K	$69K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.3319	−0.009%	$487K	$19.1M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3289	−0.078%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.416%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0034%	8h	4.3248	−0.172%	$8.1M	$19.0M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3340	+0.039%	$116K	$476K	50x	as long as short
Orderly PERP_NEAR_USDClong	+0.0099%	8h	4.3323	long leg	$57K	$162K	20x
Aster NEARUSDT	+0.0100%	8h	4.3310	−0.031%	$3.0M	$5.8M	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	4.3308	−0.034%	$409K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3248	−0.173%	$257.4M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3251	−0.166%	$220.0M	$418.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3260	−0.145%	$61.0M	$279.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3330	+0.016%	$205K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3162	−0.371%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3216	−0.247%	$31.0M	$60.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3250	−0.169%	$76.5M	$137.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3240	−0.192%	$55.7M	$42.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3248	−0.173%	$71.6M	$123.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3220	−0.238%	—	$142.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3139	−0.426%	$259K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3230	−0.215%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3230	−0.215%	$179K	$778K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3354	+0.072%	$206K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3390	+0.155%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3315	−0.018%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3380	+0.132%	$442K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3310	−0.030%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3289	−0.078%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3291	−0.073%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3333	+0.022%	$202K	$34K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0218%	1h	4.3321	−0.005%	$7.9M	$39.1M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−0.238%	$13.2M	$27.6M	75x	as long as short
Nado NEAR-PERP	+0.0322%	1h	4.3271	−0.119%	$1.9M	$3.0M	10x	as long as short
01 Exchange NEARUSD	+0.0360%	1h	4.3382	+0.136%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0378% / S −0.0309%	1h	4.3283	−0.093%	$277K	—	100x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3381	+0.134%	$450K	$1.2M	10x	as long as short
Lighter RH NEAR	+0.0560%	1h	4.3336	+0.030%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3227	−0.222%	$1.8M	$2.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0651%	1h	4.3343	+0.046%	$1.9M	$4.1M	25x	as long as short
Hyperliquid NEAR	+0.0837%	1h	4.3338	+0.035%	$367.2M	$303.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0860%	1h	4.3370	+0.108%	$1.3M	$6.0M	20x	as long as short
Lighter NEAR	+0.1416%	1h	4.3259	−0.147%	$17.2M	$24.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1441%	1h	4.3164	−0.367%	$5K	$12K	10x	as long as short