Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h +0.081%

Price spread now: edgeX against Reya−1.121%65s7-day average — · you buy dearer than you sell

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

Long on Reya Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 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 · edgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 1.121% cheaper against Reya than usual: you would sell low and buy high (spread −1.121% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$112 on $10k: about 14 days of funding at the current rate (+$8 a day). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya NEARRUSDPERP	4.2774	−0.0171	get 0.0021% / 1h	8m 28s	$2K	—	20x
Short	edgeX NEARUSDC	4.2295	0.0100	get 0.0050% / 4h	1h 08m	$247K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Reya. 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 ReyabpFee edgeXbpOrdersPrice spread, now −1.121%Rate

Funding earned: $56.88
Price spread: −1.121% → 0.000%: −$112.11
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$70.23
Costs to cover: 0.150%
Break-even: 15.6 days

Slippage unknown: Reya: no order-book sample; edgeX: live order book, just now. 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 Reya no order-book sample	—	—	—	—	—
Sell edgeX live order book, just now	7.01 bp	12.5 bp −$13	36.8 bp −$368	doesn't fit	doesn't fit

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
Reya NEARRUSDPERPlong	−0.0171%	1h	4.2774	long leg	$2K	—	20x
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.2593	−0.424%	$2.2M	$13.0M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−3.189%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2787	+0.029%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2557	−0.508%	$483K	$18.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2700	−0.174%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0047%	1h	4.2688	−0.202%	$7.7M	$36.3M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2740	−0.080%	$105K	$489K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2796	+0.050%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2830	+0.130%	$3.0M	$5.6M	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	4.2811	+0.085%	$398K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2767	−0.017%	$247.0M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2781	+0.016%	$219.8M	$420.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2780	+0.014%	$59.8M	$282.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2760	−0.033%	$200K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2317	−1.069%	$241K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2787	+0.030%	$30.1M	$58.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2760	−0.033%	$83.1M	$144.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2770	−0.010%	$56.2M	$43.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2780	+0.014%	$70.9M	$125.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2780	+0.014%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2299	−1.110%	$7.9M	$17.8M	—	as long as short
edgeX NEARUSDCshort	+0.0100%	4h	4.2295	−1.121%	$247K	$1.2M	20x
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2168	−1.417%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2150	−1.459%	$176K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2800	+0.060%	$230K	$3.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2601	−0.405%	$56K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2710	−0.150%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2639	−0.316%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2640	−0.314%	$3.9M	$8.1M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2757	−0.039%	$4.0M	$14.8M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2605	−0.397%	$205K	$62K	3x	as long as short
01 Exchange NEARUSD	+0.0136%	1h	4.2809	+0.081%	$13K	$7K	10x	as long as short
Lighter RH NEAR	+0.0152%	1h	4.2834	+0.140%	$1.5M	$7.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2660	−0.267%	$12.6M	$32.3M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0290%	1h	4.2628	−0.342%	$1.9M	$2.2M	25x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.2785	+0.025%	$412K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0388% / S −0.0332%	1h	4.2613	−0.377%	$290K	—	100x	as long as short
Nado NEAR-PERP	+0.0467%	1h	4.2794	+0.047%	$1.9M	$3.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0541%	1h	4.2742	−0.075%	$1.3M	$5.5M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.2316	−1.071%	$1.8M	$2.7M	10x	as long as short
Hyperliquid NEAR	+0.0596%	1h	4.2905	+0.306%	$368.6M	$294.9M	10x	as long as short
HTX NEAR-USDT	+0.0931%	8h	4.2770	−0.010%	$460K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.0980%	1h	4.2366	−0.954%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.0992%	1h	4.2912	+0.322%	$16.5M	$23.8M	15x	as long as short