Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.178%

Price spread now: Hyperliquid against BingX+0.109%7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs+$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.440%+$44 on $10k

Price spread, last 7 days−0.093%−$9 · spread now +0.109%, 7d avg +0.107%

Together, before fees+0.347%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.107%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NEAR-USDT	4.2180	0.0100	pay 0.0100% / 8h	7h 35m	—	$141.6M	—
Short	Hyperliquid NEAR	4.2226	0.0138	get 0.0017% / 1h	35m 04s	$354.0M	$303.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.109%Rate

Funding earned: $8.05
Price spread: +0.109% → +0.107%: $0.23
Slippage, 4 orders: −$10.4
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$21.13
Costs to cover: 0.294%
Break-even: 25.4 days

Slippage from BingX: live order book, 4 min ago; Hyperliquid: live order book, 9 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, 4 min ago	1.17 bp	6.2 bp −$6	8.4 bp −$84	18.2 bp −$1,819	48.2 bp −$24.1K
Sell Hyperliquid live order book, 9 min ago	1.17 bp	6.9 bp −$7	doesn't fit	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
Bybit NEARUSDT	−0.0181%	8h	4.2071	−0.258%	$213.2M	$418.2M	75x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.2084	−0.229%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0133%	1h	4.2156	−0.057%	$7.1M	$37.4M	50x	as long as short
Gate NEAR_USDT	−0.0132%	8h	4.2160	−0.047%	$30.3M	$59.2M	75x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2134	−0.109%	$2.2M	$12.9M	50x	as long as short
01 Exchange NEARUSD	−0.0032%	1h	4.2130	−0.119%	$12K	$7K	10x	as long as short
Variational Omni NEAR	−0.0004%	8h	4.2298	+0.281%	$7.9M	$18.8M	—	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2132	−0.114%	$109K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2192	+0.028%	$417K	$18.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2111	−0.164%	$199K	—	150x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−1.826%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2120	−0.142%	$110K	$481K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2126	−0.128%	$56K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2133	−0.112%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2165	−0.035%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2150	−0.070%	$395K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2123	−0.136%	$249.6M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2100	−0.190%	$59.5M	$274.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2130	−0.119%	$193K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2709	+1.255%	$243K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2200	+0.047%	$75.8M	$139.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2130	−0.119%	$55.1M	$42.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2056	−0.294%	$69.7M	$125.1M	75x	as long as short
BingX NEAR-USDTlong	+0.0100%	8h	4.2180	long leg	—	$141.6M	—
edgeX NEARUSDC	+0.0100%	4h	4.2741	+1.330%	$275K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2750	+1.351%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2520	+0.806%	$178K	$788K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2150	−0.071%	$200K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2170	−0.024%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2140	−0.095%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2210	+0.071%	$452K	$3.6M	75x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2051	−0.305%	$3.8M	$17.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2115	−0.154%	$196K	$28K	3x	as long as short
Hyperliquid NEARshort	+0.0138%	1h	4.2226	+0.109%	$354.0M	$303.1M	10x
BloFin NEAR-USDT	+0.0220%	8h	4.2180	0.000%	$13.1M	$28.0M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0320%	1h	4.2147	−0.078%	$1.9M	$3.2M	25x	as long as short
Lighter RH NEAR	+0.0328%	1h	4.2187	+0.017%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0370% / S −0.0308%	1h	4.2116	−0.151%	$269K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0384%	1h	4.2220	+0.095%	$1.4M	$5.7M	20x	as long as short
Phemex NEARUSDT	+0.0394%	8h	4.2170	−0.024%	$3.8M	$8.6M	50x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2136	−0.103%	$398K	$1.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2415	+0.557%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0526%	1h	4.2113	−0.159%	$1.8M	$3.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1343%	1h	4.2600	+0.996%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1912%	1h	4.2265	+0.203%	$16.9M	$24.1M	15x	as long as short