Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Bybit against SunX−0.230%7-day average −0.185% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1491.491% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.921%−$92 · spread now −0.230%, 7d avg −0.185%

Together, before fees−0.964%−$96 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: Bybit is 0.045% cheaper against SunX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.185%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NEAR-USDT	4.4320	0.0100	pay 0.0100% / 8h	7h 22m	$2K	$1.3M	20x
Short	Bybit NEARUSDT	4.4218	0.0100	get 0.0100% / 8h	7h 22m	$222.7M	$427.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.230%Rate

Funding earned: $0
Price spread: −0.230% → −0.185%: −$4.5
Slippage, 4 orders: −$130.11
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$153.61
Costs to cover: 1.491%
Break-even: never at this rate

Slippage from SunX: live order book, 2 min ago; Bybit: live order book, 2 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, 2 min ago	30.56 bp	49.8 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.13 bp	9.1 bp −$9	13.8 bp −$138	31.5 bp −$3,153	164.4 bp −$82.2K

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
Kraken Futures PF_NEARUSD	−0.0427%	1h	4.4211	−0.245%	$7.3M	$38.7M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4248	−0.162%	$2K	—	20x	as long as short
Phemex NEARUSDT	−0.0010%	8h	4.4230	−0.203%	$3.5M	$7.8M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4308	−0.027%	$108K	$65K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4234	−0.194%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.566%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4280	−0.090%	$122K	$500K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4270	−0.113%	$2.7M	$4.6M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4263	−0.128%	$266.8M	$1.08B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.4218	−0.230%	$222.7M	$427.0M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4200	−0.271%	$62.5M	$298.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.4310	−0.023%	$224K	$1.5M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−1.286%	$252K	$3K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4266	−0.122%	$37.3M	$62.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4260	−0.135%	$90.0M	$158.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4300	−0.045%	$53.1M	$45.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4207	−0.255%	$73.0M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4240	−0.181%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3876	−1.001%	$9.1M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3952	−0.831%	$255K	$893K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3978	−0.771%	$1.5M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3760	−1.264%	$165K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4265	−0.124%	$276K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4242	−0.176%	$57K	$238K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.4320	long leg	$2K	$1.3M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.4220	−0.226%	$5K	$49K	10x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4289	−0.069%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4204	−0.262%	$3.7M	$15.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4240	−0.181%	$206K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0138%	8h	4.4082	−0.537%	$874K	$25.5M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4300	−0.045%	$12.7M	$32.6M	75x	as long as short
Nado NEAR-PERP	+0.0224%	1h	4.4285	−0.078%	$1.7M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0273%	1h	4.4309	−0.025%	$358.9M	$314.9M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.4316	−0.009%	$13K	$6K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0356% / S −0.0258%	1h	4.4241	−0.177%	$260K	—	100x	as long as short
Lighter RH NEAR	+0.0424%	1h	4.4372	+0.117%	$1.5M	$6.5M	10x	as long as short
Lighter NEAR	+0.0472%	1h	4.4369	+0.111%	$17.5M	$24.0M	15x	as long as short
HTX NEAR-USDT	+0.0487%	8h	4.4340	+0.045%	$468K	$3.7M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.4385	+0.147%	$2.3M	$17.4M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0539%	1h	4.4376	+0.126%	$1.1M	$7.2M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0587%	1h	4.4260	−0.135%	$1.9M	$13.1M	25x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.4300	−0.044%	$599K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.4328	+0.019%	$418K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.4057	−0.593%	$1.8M	$2.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1019%	1h	4.3999	−0.725%	$5K	$7K	10x	as long as short