Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0271%/8h= −29.7% APRpaid last 24h −0.081%

Price spread now: Reya against Orderly−0.036%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Reya is 0.036% cheaper against Orderly than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.3699	0.0100	pay 0.0100% / 8h	7h 30m	$56K	$239K	20x
Short	Reya NEARRUSDPERP	4.3683	−0.0171	pay 0.0021% / 1h	30m 11s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.036%Rate

Funding earned: −$56.88
Price spread: −0.036% → 0.000%: −$3.63
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: −$72.51
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Reya: no order-book sample. 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 Reya no order-book sample	—	—	—	—	—

Orderly and Reya: 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
Kraken Futures PF_NEARUSD	−0.0432%	1h	4.3677	−0.051%	$7.2M	$38.6M	50x	as long as short
Reya NEARRUSDPERPshort	−0.0171%	1h	4.3683	−0.036%	$2K	—	20x
dYdX NEAR-USD	0.0000%	1h	4.3686	−0.031%	$107K	$65K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3680	−0.045%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.238%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3720	+0.048%	$120K	$503K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3680	−0.043%	$2.7M	$4.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3709	+0.023%	$263.5M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3690	−0.021%	$220.0M	$427.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3690	−0.021%	$61.6M	$294.8M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NEAR-USD	+0.0100%	1h	4.3750	+0.117%	$222K	$1.5M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3687	−0.027%	$36.6M	$62.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3690	−0.021%	$90.3M	$157.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3720	+0.048%	$52.5M	$45.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3679	−0.046%	$72.1M	$127.5M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3688	−0.026%	$9.0M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3563	−0.311%	$253K	$895K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3640	−0.134%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3550	−0.341%	$164K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3710	+0.025%	$273K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDClong	+0.0100%	8h	4.3699	long leg	$56K	$239K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3780	+0.185%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3695	−0.009%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3700	+0.002%	$3.5M	$8.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3708	+0.021%	$252K	$3K	10x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3699	0.000%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3649	−0.115%	$3.6M	$15.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3702	+0.006%	$203K	$40K	3x	as long as short
BingX NEAR-USDT	+0.0107%	8h	4.3680	−0.043%	—	$83.2M	—	as long as short
Kalshi KXNEARPERP	+0.0140%	8h	4.3685	−0.032%	$862K	$25.4M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3730	+0.071%	$12.7M	$32.3M	75x	as long as short
Hyperliquid NEAR	+0.0240%	1h	4.3748	+0.112%	$353.5M	$316.3M	10x	as long as short
Nado NEAR-PERP	+0.0267%	1h	4.3692	−0.015%	$1.7M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.3740	+0.094%	$13K	$6K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0353% / S −0.0257%	1h	4.3679	−0.046%	$257K	—	100x	as long as short
HTX NEAR-USDT	+0.0414%	8h	4.3830	+0.300%	$463K	$3.7M	75x	as long as short
Lighter NEAR	+0.0424%	1h	4.3734	+0.081%	$17.3M	$23.9M	15x	as long as short
Lighter RH NEAR	+0.0472%	1h	4.3747	+0.110%	$1.5M	$6.4M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3786	+0.199%	$2.3M	$17.2M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0519%	1h	4.3716	+0.039%	$1.1M	$7.1M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.3729	+0.068%	$591K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.3695	−0.010%	$412K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0735%	1h	4.3710	+0.025%	$1.9M	$13.1M	25x	as long as short
Phoenix NEAR	+0.0740%	1h	4.3734	+0.080%	$1.8M	$2.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1034%	1h	4.3730	+0.072%	$5K	$7K	10x	as long as short