Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.023%

Price spread now: Injective against Paradex−3.379%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Injective

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 airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 3.379% cheaper against Paradex than usual: you would sell low and buy high (−$338 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	Paradex NEAR-USD-PERP	4.2858	0.0100	pay 0.0100% / 8h	2h 51m	$31K	$608	10x
Short	Injective NEAR/USDC PERP	4.1410	0.0033	get 0.0004% / 1h	51m 55s	$578	$301K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Paradex. 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 ParadexbpFee InjectivebpOrdersPrice spread, now −3.379%Rate

Funding earned: −$14.1
Price spread: −3.379% → 0.000%: −$337.94
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$356.05
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Injective: 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 Paradex no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Paradex and Injective: 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	4.2824	−0.080%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2825	−0.078%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2823	−0.083%	$160K	—	150x	as long as short
Injective NEAR/USDC PERPshort	+0.0033%	1h	4.1410	−3.379%	$578	$301K	12x
Popdex NEARUSDT	+0.0096%	1h	4.2860	+0.004%	$111K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2890	+0.074%	$261.6M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2836	−0.052%	$212.4M	$426.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2850	−0.019%	$60.4M	$286.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2835	−0.054%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2870	+0.027%	$32.0M	$59.5M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2880	+0.051%	$70.7M	$142.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2890	+0.074%	$53.0M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2823	−0.082%	$70.8M	$127.9M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2860	+0.004%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2828	−0.072%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2849	−0.023%	$250K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2790	−0.159%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2866	+0.018%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2893	+0.081%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2940	+0.191%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2910	+0.121%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2890	+0.074%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERPlong	+0.0100%	8h	4.2858	long leg	$31K	$608	10x
Aevo NEAR-PERP	+0.0104%	1h	4.2871	+0.029%	$199K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2850	−0.019%	$13.4M	$31.6M	75x	as long as short
Nado NEAR-PERP	+0.0228%	1h	4.2850	−0.019%	$1.7M	$3.2M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2865	+0.016%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0271%	8h	4.2855	−0.008%	$828K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0195%	1h	4.2802	−0.130%	$230K	—	100x	as long as short
Aster NEARUSDT	+0.0333%	8h	4.2880	+0.051%	$2.8M	$5.5M	50x	as long as short
Extended NEAR-USD	+0.0512%	1h	4.2838	−0.047%	$3.7M	$19.9M	25x	as long as short
ApeX Omni NEARUSDT	+0.0512%	1h	4.2830	−0.066%	$165K	$793K	50x	as long as short
SoDEX NEAR-USD	+0.0631%	1h	4.2875	+0.039%	$6K	$53K	10x	as long as short
Hyperliquid NEAR	+0.0652%	1h	4.2887	+0.067%	$350.2M	$311.1M	10x	as long as short
Lighter NEAR	+0.0656%	1h	4.2933	+0.173%	$16.8M	$25.0M	15x	as long as short
01 Exchange NEARUSD	+0.0664%	1h	4.2937	+0.184%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0686%	1h	4.2907	+0.114%	$1.3M	$6.8M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0738%	1h	4.2876	+0.041%	$7.6M	$38.8M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2910	+0.121%	$210K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2891	+0.076%	$394K	$1.3M	10x	as long as short
Lighter RH NEAR	+0.0864%	1h	4.2932	+0.172%	$1.5M	$7.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1010%	1h	4.2911	+0.123%	$1.9M	$10.6M	25x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2873	+0.034%	$1.8M	$2.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2895	+0.086%	$676K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1468%	1h	4.2880	+0.051%	$5K	$12K	10x	as long as short