Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: Polymarket Perps against BloFin−0.142%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 3 days (all we have)−0.037%−$4 · spread now −0.142%, 7d avg +0.007%

Together, before fees−0.261%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Polymarket Perps is 0.149% cheaper against BloFin than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NEAR-USDT	4.2970	0.0220	pay 0.0220% / 8h	7h 47m	$13.1M	$29.1M	75x
Short	Polymarket Perps NEAR-USD	4.2909	0.0100	get 0.0013% / 1h	47m 22s	$193K	$3.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$25.2
Price spread: −0.142% → +0.007%: −$14.92
Slippage, 4 orders: −$10.03
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$70.16
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Polymarket Perps: 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 BloFin live order book, 7 min ago	2.32 bp	8.3 bp −$8	14.3 bp −$143	27.9 bp −$2,793	101.8 bp −$50.9K
Sell Polymarket Perps live order book, 2 min ago	0.23 bp	5.3 bp −$5	9.1 bp −$91	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	4.2920	−0.116%	$218.9M	$418.4M	75x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.2887	−0.193%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.2936	−0.080%	$7.6M	$37.1M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2938	−0.074%	$2.2M	$13.0M	50x	as long as short
Gate NEAR_USDT	−0.0038%	8h	4.2920	−0.116%	$30.9M	$58.7M	75x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2901	−0.161%	$111K	$64K	10x	as long as short
01 Exchange NEARUSD	0.0000%	1h	4.2906	−0.149%	$13K	$7K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2894	−0.177%	$376K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2932	−0.088%	$203K	—	150x	as long as short
Variational Omni NEAR	+0.0014%	8h	4.2988	+0.043%	$7.9M	$18.6M	—	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	−3.630%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2900	−0.163%	$112K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.2953	−0.040%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2890	−0.186%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2952	−0.042%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2912	−0.135%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2945	−0.059%	$255.2M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2920	−0.116%	$61.0M	$279.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2920	−0.116%	$197K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3050	+0.186%	$245K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2910	−0.140%	$79.6M	$138.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2930	−0.093%	$56.2M	$43.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2905	−0.151%	$71.2M	$125.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2920	−0.116%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3101	+0.305%	$277K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3108	+0.321%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3120	+0.349%	$180K	$791K	50x	as long as short
Polymarket Perps NEAR-USDshort	+0.0100%	1h	4.2909	−0.142%	$193K	$3.5M	10x
SunX NEAR-USDT	+0.0100%	8h	4.2960	−0.023%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2909	−0.142%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2980	+0.023%	$458K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2970	0.000%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2895	−0.175%	$3.9M	$16.8M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2910	−0.139%	$200K	$28K	3x	as long as short
BloFin NEAR-USDTlong	+0.0220%	8h	4.2970	long leg	$13.1M	$29.1M	75x
Hyperliquid NEAR	+0.0300%	1h	4.2958	−0.028%	$366.3M	$300.1M	10x	as long as short
Lighter RH NEAR	+0.0304%	1h	4.3035	+0.151%	$1.6M	$6.9M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0309%	1h	4.2952	−0.042%	$1.9M	$3.0M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2925	−0.104%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2929	−0.095%	$408K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0463%	1h	4.2901	−0.161%	$1.9M	$3.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0492%	1h	4.2984	+0.033%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3171	+0.468%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1259%	1h	4.3011	+0.095%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.2224%	1h	4.3077	+0.250%	$17.2M	$23.9M	15x	as long as short