Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h +0.081%

Price spread now: Orderly against Reya+0.148%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Orderly

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 for this trade now. Funding pays +$8 a day on $10k at the current rate, and Orderly is 0.148% dearer against Reya than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya NEARRUSDPERP	4.3644	−0.0171	get 0.0021% / 1h	17m 44s	$2K	—	20x
Short	Orderly PERP_NEAR_USDC	4.3709	0.0100	get 0.0100% / 8h	17m 44s	$58K	$235K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.148%Rate

Funding earned: $56.88
Price spread: +0.148% → 0.000%: $14.81
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $59.68
Costs to cover: 0.120%
Break-even: from the start

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

Reya and 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 NEARRUSDPERPlong	−0.0171%	1h	4.3644	long leg	$2K	—	20x
dYdX NEAR-USD	0.0000%	1h	4.3624	−0.047%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3688	+0.099%	$164K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3671	+0.062%	$7.2M	$38.4M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.120%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3680	+0.082%	$114K	$498K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3699	+0.125%	$220.6M	$428.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3700	+0.127%	$61.3M	$295.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3601	−0.100%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3636	−0.019%	$35.7M	$62.8M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3650	+0.013%	$52.9M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3695	+0.116%	$72.3M	$127.8M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3517	−0.291%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3412	−0.533%	$252K	$899K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3550	−0.216%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3430	−0.491%	$166K	$815K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3697	+0.121%	$279K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.3709	+0.148%	$58K	$235K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3740	+0.219%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3690	+0.105%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3670	+0.059%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3660	+0.035%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3623	−0.050%	$3.6M	$16.8M	25x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3705	+0.139%	$203K	$38K	3x	as long as short
HTX NEAR-USDT	+0.0149%	8h	4.3820	+0.402%	$466K	$3.8M	75x	as long as short
Aster NEARUSDT	+0.0150%	8h	4.3661	+0.038%	$2.7M	$4.9M	50x	as long as short
Hyperliquid NEAR	+0.0151%	1h	4.3734	+0.205%	$352.5M	$315.9M	10x	as long as short
MEXC NEAR_USDT	+0.0171%	8h	4.3690	+0.105%	$89.2M	$152.8M	200x	as long as short
Binance NEARUSDT	+0.0172%	8h	4.3679	+0.080%	$264.2M	$1.09B	75x	as long as short
Kalshi KXNEARPERP	+0.0178%	8h	4.3675	+0.070%	$964K	$25.0M	2.2x	as long as short
BingX NEAR-USDC	+0.0184%	8h	4.3660	+0.036%	—	$6.6M	—	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.3704	+0.137%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0292%	8h	4.3570	−0.170%	$13.3M	$32.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0207%	1h	4.3689	+0.101%	$236K	—	100x	as long as short
Nado NEAR-PERP	+0.0379%	1h	4.3645	+0.001%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0461%	1h	4.3702	+0.132%	$1.0M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3698	+0.123%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0536%	1h	4.3723	+0.180%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0552%	1h	4.3714	+0.159%	$17.2M	$25.3M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3690	+0.105%	$230K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0849%	1h	4.3735	+0.208%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3663	+0.043%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3607	−0.086%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3691	+0.107%	$607K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1118%	1h	4.3479	−0.380%	$5K	$7K	10x	as long as short