Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.050%

Price spread now: Coinbase International against SunX−0.164%7-day average −0.166% · you buy dearer than you sell

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1651.648% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.223%−$22 on $10k

Price spread, last 3 days (all we have)−0.086%−$9 · spread now −0.164%, 7d avg −0.166%

Together, before fees−0.308%−$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.166%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NEAR-USDT	4.1350	0.0100	pay 0.0100% / 8h	2h 22m	$2K	$1.4M	20x
Short	Coinbase International NEAR-PERP-INTX	4.1282	−0.0024	pay 0.0003% / 1h	22m 59s	$2.1M	$12.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.164%Rate

Funding earned: −$26.04
Price spread: −0.164% → −0.166%: $0.17
Slippage, 4 orders: −$146.8
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$190.67
Costs to cover: 1.648%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; Coinbase International: live order book, 6 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, 12 min ago	31.22 bp	52.8 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 6 min ago	3.49 bp	12.3 bp −$12	19.9 bp −$199	doesn't fit	doesn't fit

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	4.1284	−0.159%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXshort	−0.0024%	1h	4.1282	−0.164%	$2.1M	$12.6M	50x
dYdX NEAR-USD	0.0000%	1h	4.1238	−0.272%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1277	−0.177%	$411K	$19.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1305	−0.109%	$204K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.145%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1300	−0.121%	$108K	$489K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1332	−0.044%	$53K	$159K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1242	−0.260%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1242	−0.260%	$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	4.1237	−0.274%	$365K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1210	−0.339%	$234.6M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1200	−0.363%	$209.6M	$428.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1200	−0.363%	$56.3M	$275.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1550	+0.484%	$237K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1201	−0.360%	$29.3M	$58.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1210	−0.339%	$80.9M	$144.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1230	−0.290%	$55.7M	$45.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1187	−0.394%	$68.5M	$127.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1200	−0.363%	—	$136.5M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1444	+0.226%	$7.7M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1419	+0.166%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1420	+0.169%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1420	+0.169%	$182K	$790K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1316	−0.082%	$200K	$3.1M	10x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.1350	long leg	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.1295	−0.133%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1270	−0.193%	$3.8M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1188	−0.392%	$3.7M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1318	−0.077%	$200K	$65K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1300	−0.121%	$306K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0150%	1h	4.1306	−0.107%	$7.0M	$36.6M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0161%	1h	4.1359	+0.022%	$1.8M	$2.1M	25x	as long as short
01 Exchange NEARUSD	+0.0216%	1h	4.1309	−0.099%	$12K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1330	−0.048%	$12.2M	$33.7M	75x	as long as short
Lighter RH NEAR	+0.0296%	1h	4.1334	−0.039%	$1.4M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0358%	1h	4.1262	−0.212%	$1.8M	$3.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0317%	1h	4.1304	−0.112%	$272K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1301	−0.117%	$412K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0582%	1h	4.1398	+0.116%	$1.7M	$2.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0776%	1h	4.1278	−0.174%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0840%	1h	4.1364	+0.033%	$15.4M	$22.8M	15x	as long as short
Hyperliquid NEAR	+0.0986%	1h	4.1335	−0.036%	$346.9M	$299.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.0991%	1h	4.1416	+0.160%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1104%	8h	4.1320	−0.073%	$444K	$3.7M	75x	as long as short