Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Bulk against BingX−0.588%7-day average +0.006% · 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−$102as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on BingX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now −0.588%, 7d avg +0.006%

Together, before fees−0.001%$0 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 0.594% cheaper against BingX than usual: you would sell low and buy high, −$59 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NEAR-USDT	4.4870	0.0100	pay 0.0100% / 8h	5h 06m	—	$74.6M	—
Short	Bulk NEAR-USD	4.4606	0.0100	get 0.0013% / 1h	6m 02s	$275K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against BingX. 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 BingXbpFee BulkbpOrdersPrice spread, now −0.588%Rate

Funding earned: $0
Price spread: −0.588% → +0.006%: −$59.38
Slippage, 4 orders: −$25.57
Fee BingX: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$101.95
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Bulk: live order book, 41 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 BingX live order book, 11 min ago	1.12 bp	6.1 bp −$6	9.4 bp −$94	23.7 bp −$2,367	52.8 bp −$26.4K
Sell Bulk live order book, 41 min ago	11.17 bp	14.7 bp −$15	14.7 bp −$147	22.6 bp −$2,265	46.7 bp −$23.3K

NEAR on 45 exchanges

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	−0.0236%	1h	4.4786	−0.187%	$7.3M	$37.0M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4843	−0.060%	$2K	—	20x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4830	−0.089%	$905K	$26.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4815	−0.123%	$168K	—	150x	as long as short
dYdX NEAR-USD	+0.0022%	1h	4.4790	−0.179%	$110K	$53K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.711%	$578	$301K	12x	as long as short
01 Exchange NEARUSD	+0.0080%	1h	4.4871	+0.002%	$13K	$4K	10x	as long as short
Lighter NEAR	+0.0096%	1h	4.4841	−0.065%	$17.0M	$25.1M	15x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4880	+0.022%	$123K	$505K	50x	as long as short
Hyperliquid NEAR	+0.0100%	1h	4.4865	−0.011%	$360.5M	$312.0M	10x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.4878	+0.019%	$2.7M	$4.8M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4890	+0.045%	$270.7M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4873	+0.007%	$230.4M	$430.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4860	−0.022%	$64.0M	$300.9M	50x	as long as short
Bulk NEAR-USDshort	+0.0100%	1h	4.4606	−0.588%	$275K	$24K	10x
Gate NEAR_USDT	+0.0100%	8h	4.4805	−0.145%	$40.8M	$63.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4820	−0.111%	$72.1M	$171.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4840	−0.067%	$54.8M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4854	−0.036%	$74.7M	$127.5M	75x	as long as short
BingX NEAR-USDTlong	+0.0100%	8h	4.4870	long leg	—	$74.6M	—
Variational Omni NEAR	+0.0100%	8h	4.4714	−0.349%	$8.7M	$16.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4888	+0.039%	$266K	$862K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4890	+0.045%	$1.5M	$1.8M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4850	−0.045%	$168K	$808K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4886	+0.036%	$193K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4835	−0.078%	$55K	$273K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4880	+0.022%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4815	−0.123%	$5K	$34K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4870	0.000%	$470K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4810	−0.134%	$3.4M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4815	−0.123%	$32K	$389	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4850	−0.044%	$3.7M	$15.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4802	−0.151%	$208K	$38K	3x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0191% / S −0.0033%	1h	4.4849	−0.048%	$241K	—	100x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4870	0.000%	$12.7M	$32.6M	75x	as long as short
Lighter RH NEAR	+0.0240%	1h	4.4851	−0.042%	$1.5M	$6.0M	10x	as long as short
Nado NEAR-PERP	+0.0266%	1h	4.4880	+0.022%	$1.8M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0343%	1h	4.4900	+0.067%	$227K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.0489%	1h	4.4875	+0.011%	$649K	$1.6M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0504%	1h	4.4932	+0.138%	$2.3M	$17.6M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0551%	1h	4.4892	+0.049%	$1.1M	$7.1M	20x	as long as short
Phoenix NEAR	+0.0741%	1h	4.4988	+0.263%	$1.7M	$2.7M	10x	as long as short
Pacifica NEAR	+0.0851%	1h	4.4829	−0.092%	$423K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0866%	1h	4.4850	−0.045%	$1.9M	$13.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.0930%	1h	4.4838	−0.071%	$6K	$6K	10x	as long as short