Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: Bybit against SoDEX−0.184%46s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Bybit

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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.184% cheaper against SoDEX than usual: you would sell low and buy high, −$18 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	SoDEX NEAR-USD	4.3595	0.0100	pay 0.0013% / 1h	0m 37s	$5K	$51K	10x
Short	Bybit NEARUSDT	4.3515	0.0100	get 0.0100% / 8h	6h 00m	$219.0M	$416.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now −0.184%Rate

Funding earned: $0
Price spread: −0.184% → 0.000%: −$18.35
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.35
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 4 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.15 bp	6.7 bp −$7	13.6 bp −$136	33.2 bp −$3,320	137.7 bp −$68.8K

SoDEX: 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 44 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	4.3477	−0.271%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3541	−0.124%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3555	−0.093%	$107K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3522	−0.167%	$553K	$19.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3520	−0.172%	$196K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.012%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3550	−0.103%	$114K	$486K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3559	−0.082%	$408K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3560	−0.080%	$264.1M	$1.08B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.3515	−0.184%	$219.0M	$416.9M	75x

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3490	−0.241%	$61.9M	$287.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3620	+0.057%	$208K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3555	−0.092%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3569	−0.060%	$31.4M	$63.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3570	−0.057%	$75.8M	$145.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3590	−0.011%	$53.9M	$43.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3600	+0.011%	$71.6M	$126.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3590	−0.011%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3517	−0.178%	$8.4M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3594	−0.002%	$269K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3541	−0.125%	$1.4M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3590	−0.011%	$196K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3519	−0.174%	$204K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3539	−0.128%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3540	−0.126%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USDlong	+0.0100%	1h	4.3595	long leg	$5K	$51K	10x
HTX NEAR-USDT	+0.0100%	8h	4.3640	+0.103%	$455K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3590	−0.011%	$3.8M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3539	−0.128%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3550	−0.103%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3545	−0.115%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0177%	8h	4.3537	−0.132%	$3.0M	$5.6M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0217%	1h	4.3607	+0.027%	$7.7M	$40.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0347% / S −0.0242%	1h	4.3518	−0.176%	$254K	—	100x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3642	+0.108%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0423%	1h	4.3505	−0.206%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3635	+0.091%	$549K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0554%	1h	4.3589	−0.014%	$1.9M	$4.3M	25x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3584	−0.025%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0784%	1h	4.3557	−0.087%	$1.6M	$7.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0803%	1h	4.3578	−0.039%	$1.5M	$6.3M	20x	as long as short
Hyperliquid NEAR	+0.0859%	1h	4.3545	−0.115%	$366.5M	$306.1M	10x	as long as short
Aftermath Perps NEARUSD	+0.1664%	1h	4.3639	+0.101%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1696%	1h	4.3676	+0.186%	$17.4M	$25.8M	15x	as long as short