Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0480%/8h= +52.6% APRpaid last 24h +0.102%

Price spread now: Nado against Bybit+0.257%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.118%+$12 on $10k

Price spread, last 7 days−0.087%−$9 · spread now +0.257%, 7d avg +0.063%

Together, before fees+0.031%+ Points / potential airdropNado: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Nado is 0.194% dearer against Bybit than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.063%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.118% in total (about 12.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.4480	0.0100	pay 0.0100% / 8h	1h 40m	$225.6M	$435.5M	75x
Short	Nado NEAR-PERP	4.4594	0.0580	get 0.0073% / 1h	40m 05s	$1.7M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. 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 BybitbpFee NadobpOrdersPrice spread, now +0.257%Rate

Funding earned: $100.87
Price spread: +0.257% → +0.063%: $19.42
Slippage, 4 orders: −$9.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $92.64
Costs to cover: 0.277%
Break-even: 0.6 days

Slippage from Bybit: live order book, 4 min ago; Nado: live order book, 4 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 Bybit live order book, 4 min ago	1.12 bp	8.7 bp −$9	16.2 bp −$162	41.1 bp −$4,113	166.3 bp −$83.2K
Sell Nado live order book, 4 min ago	0.11 bp	5.0 bp −$5	15.3 bp −$153	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	4.4558	+0.175%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4644	+0.369%	$110K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4563	+0.187%	$168K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.902%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4640	+0.360%	$111K	$494K	50x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.4480	long leg	$225.6M	$435.5M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4470	−0.022%	$62.9M	$299.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5008	+1.187%	$256K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4449	−0.070%	$35.2M	$60.3M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4480	0.000%	$52.8M	$46.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4468	−0.027%	$73.7M	$128.0M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4927	+1.005%	$9.1M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4779	+0.672%	$262K	$967K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4740	+0.585%	$168K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4607	+0.286%	$294K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4486	+0.013%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4520	+0.090%	$1K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4560	+0.180%	$464K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4460	−0.045%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0106%	8h	4.4700	+0.494%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0124%	8h	4.4854	+0.840%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.4528	+0.107%	$207K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0175%	1h	4.4447	−0.074%	$5K	$53K	10x	as long as short
BingX NEAR-USDT	+0.0185%	8h	4.4510	+0.067%	—	$144.0M	—	as long as short
MEXC NEAR_USDT	+0.0189%	8h	4.4500	+0.045%	$84.0M	$146.2M	200x	as long as short
Binance NEARUSDT	+0.0190%	8h	4.4487	+0.016%	$270.8M	$1.09B	75x	as long as short
Kalshi KXNEARPERP	+0.0292%	8h	4.4525	+0.101%	$1.1M	$25.1M	2.2x	as long as short
Extended NEAR-USD	+0.0296%	1h	4.4460	−0.044%	$3.7M	$18.9M	25x	as long as short
BloFin NEAR-USDT	+0.0310%	8h	4.4790	+0.697%	$13.6M	$33.0M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0335% / S −0.0229%	1h	4.4554	+0.166%	$256K	—	100x	as long as short
Aster NEARUSDT	+0.0336%	8h	4.4473	−0.015%	$2.8M	$5.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4520	+0.090%	$2.3M	$16.5M	50x	as long as short
01 Exchange NEARUSD	+0.0472%	1h	4.4667	+0.420%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0541%	1h	4.4531	+0.115%	$366.4M	$311.8M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0548%	1h	4.4495	+0.034%	$1.4M	$6.7M	20x	as long as short
Nado NEAR-PERPshort	+0.0580%	1h	4.4594	+0.257%	$1.7M	$3.2M	10x
Kraken Futures PF_NEARUSD	+0.0657%	1h	4.4424	−0.127%	$7.4M	$38.5M	50x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4690	+0.472%	$227K	$1.6M	10x	as long as short
Lighter NEAR	+0.0960%	1h	4.4519	+0.088%	$17.4M	$24.8M	15x	as long as short
Lighter RH NEAR	+0.0984%	1h	4.4545	+0.146%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.5134	+1.470%	$1.9M	$2.5M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4718	+0.535%	$412K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1259%	1h	4.4754	+0.615%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4674	+0.435%	$670K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1347%	1h	4.4521	+0.092%	$1.9M	$12.4M	25x	as long as short