Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0393%/8h= +43.0% APRpaid last 24h +0.180%

Price spread now: Hyperliquid against Bitget+0.210%7-day average +0.132% · you sell dearer than you buy

Net, funding: paid 7d − costs+$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.458%+$46 on $10k

Price spread, last 7 days−0.150%−$15 · spread now +0.210%, 7d avg +0.132%

Together, before fees+0.309%+ Points / potential airdropHyperliquid: Season 2 · farm board+$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Hyperliquid is 0.079% dearer against Bitget than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.132%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NEARUSDT	4.4196	0.0100	pay 0.0100% / 8h	1h 30m	$73.1M	$127.1M	75x
Short	Hyperliquid NEAR	4.4289	0.0493	get 0.0062% / 1h	30m 56s	$362.2M	$312.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.210%Rate

Funding earned: $82.54
Price spread: +0.210% → +0.132%: $7.87
Slippage, 4 orders: −$11.73
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $57.67
Costs to cover: 0.327%
Break-even: 2.1 days

Slippage from Bitget: live order book, 3 min ago; Hyperliquid: live order book, 13 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 Bitget live order book, 3 min ago	0.11 bp	9.7 bp −$10	11.9 bp −$119	38.4 bp −$3,842	doesn't fit
Sell Hyperliquid live order book, 13 min ago	0.11 bp	8.0 bp −$8	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
Reya NEARRUSDPERP	−0.0171%	1h	4.4213	+0.039%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4316	+0.272%	$109K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4222	+0.058%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.304%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4240	+0.100%	$111K	$491K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4165	−0.070%	$224.1M	$435.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4190	−0.014%	$62.5M	$297.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4350	+0.348%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4233	+0.084%	$35.5M	$61.4M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4260	+0.145%	$53.4M	$46.2M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDTlong	+0.0100%	8h	4.4196	long leg	$73.1M	$127.1M	75x
Variational Omni NEAR	+0.0100%	8h	4.4297	+0.229%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4331	+0.305%	$259K	$966K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4270	+0.167%	$167K	$805K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4258	+0.140%	$297K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4249	+0.120%	$59K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4300	+0.235%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4410	+0.484%	$466K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4270	+0.167%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0105%	8h	4.4310	+0.258%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0115%	8h	4.4407	+0.477%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.4255	+0.133%	$206K	$38K	3x	as long as short
BingX NEAR-USDT	+0.0194%	8h	4.4160	−0.081%	—	$143.9M	—	as long as short
SoDEX NEAR-USD	+0.0195%	1h	4.4235	+0.088%	$5K	$53K	10x	as long as short
MEXC NEAR_USDT	+0.0196%	8h	4.4190	−0.014%	$80.7M	$147.8M	200x	as long as short
Binance NEARUSDT	+0.0200%	8h	4.4200	+0.009%	$269.8M	$1.09B	75x	as long as short
Extended NEAR-USD	+0.0224%	1h	4.4190	−0.014%	$3.7M	$18.5M	25x	as long as short
Kalshi KXNEARPERP	+0.0267%	8h	4.4316	+0.272%	$1.1M	$25.1M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0197%	1h	4.4211	+0.033%	$234K	—	100x	as long as short
Aster NEARUSDT	+0.0318%	8h	4.4171	−0.057%	$2.8M	$5.0M	50x	as long as short
BloFin NEAR-USDT	+0.0320%	8h	4.4290	+0.213%	$13.8M	$32.7M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4344	+0.335%	$2.3M	$16.7M	50x	as long as short
01 Exchange NEARUSD	+0.0456%	1h	4.4285	+0.201%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0459%	1h	4.4258	+0.140%	$1.4M	$6.8M	20x	as long as short
Hyperliquid NEARshort	+0.0493%	1h	4.4289	+0.210%	$362.2M	$312.7M	10x
Nado NEAR-PERP	+0.0596%	1h	4.4235	+0.088%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0660%	1h	4.4220	+0.055%	$7.3M	$38.4M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0790%	1h	4.4257	+0.138%	$1.9M	$13.1M	25x	as long as short
Lighter NEAR	+0.0864%	1h	4.4300	+0.235%	$17.4M	$25.1M	15x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4290	+0.213%	$225K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0912%	1h	4.4302	+0.240%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4381	+0.419%	$1.8M	$2.5M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4336	+0.316%	$409K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4279	+0.188%	$668K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1273%	1h	4.4381	+0.418%	$6K	$12K	10x	as long as short