Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against SunX−0.024%7-day average −0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1681.680% of the position

Long on SunX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.281%−$28 · spread now −0.024%, 7d avg −0.143%

Together, before fees−0.282%−$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.119% dearer against SunX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.143%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NEAR-USDT	4.1560	0.0100	pay 0.0100% / 8h	2h 31m	$2K	$1.4M	20x
Short	Bulk NEAR-USD	4.1550	0.0100	get 0.0013% / 1h	31m 29s	$237K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against SunX. 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 SunXbpFee BulkbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → −0.143%: $11.86
Slippage, 4 orders: −$152.98
Fee SunX: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$156.12
Costs to cover: 1.680%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Bulk: live order book, 57 min ago.

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 SunX live order book, 3 min ago	31.22 bp	52.8 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Bulk live order book, 57 min ago	12.12 bp	15.6 bp −$16	15.6 bp −$156	15.6 bp −$1,562	37.7 bp −$18.9K

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	4.1583	+0.056%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1562	+0.005%	$2.1M	$12.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1548	−0.029%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1523	−0.089%	$412K	$19.1M	2.2x	as long as short
Deribit NEAR_USDC-PERPETUAL	0.0000%	1h	4.1503	−0.137%	$1.8M	$2.1M	25x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1476	−0.201%	$205K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.0730	−1.997%	$569	$239K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1590	+0.072%	$108K	$489K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1570	+0.024%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1565	+0.013%	$2.9M	$5.9M	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	4.1580	+0.047%	$368K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1583	+0.055%	$236.8M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1580	+0.048%	$212.0M	$428.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1590	+0.072%	$56.8M	$278.8M	50x	as long as short
Bulk NEAR-USDshort	+0.0100%	1h	4.1550	−0.024%	$237K	$6K	10x
Gate NEAR_USDT	+0.0100%	8h	4.1562	+0.005%	$29.6M	$58.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1570	+0.024%	$81.0M	$143.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1590	+0.072%	$56.2M	$45.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1592	+0.077%	$69.3M	$127.9M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1540	−0.048%	—	$136.5M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1354	−0.497%	$7.6M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1548	−0.029%	$236K	$1.3M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1528	−0.076%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1560	0.000%	$183K	$790K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1613	+0.128%	$192K	$3.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1474	−0.207%	$53K	$159K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.1560	long leg	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.1475	−0.205%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1500	−0.144%	$3.8M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1564	+0.010%	$3.7M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1475	−0.205%	$201K	$65K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1600	+0.096%	$308K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0149%	1h	4.1490	−0.167%	$7.1M	$36.7M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1580	+0.048%	$12.2M	$33.8M	75x	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.1600	+0.096%	$12K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0332%	1h	4.1585	+0.060%	$1.8M	$3.6M	10x	as long as short
Lighter RH NEAR	+0.0360%	1h	4.1630	+0.168%	$1.4M	$7.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0317%	1h	4.1473	−0.210%	$273K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1605	+0.109%	$416K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1650	+0.217%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0807%	1h	4.1545	−0.036%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0888%	1h	4.1641	+0.196%	$15.5M	$22.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1005%	1h	4.1432	−0.308%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1081%	1h	4.1642	+0.197%	$350.2M	$301.6M	10x	as long as short
HTX NEAR-USDT	+0.1123%	8h	4.1640	+0.192%	$448K	$3.8M	75x	as long as short