Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.042%

Price spread now: SunX against Coinbase International−0.191%7-day average +0.168% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

costs, in and out, $10k−$1621.616% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 4 days (all we have)+0.418%+$42 · spread now −0.191%, 7d avg +0.168%

Together, before fees+0.649%+$65 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.359% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.191% now, against its 7-day average of +0.168%). If the spread goes back, that is −$36 on $10k: about 27 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.231% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NEAR-PERP-INTX	4.3493	0.0056	pay 0.0007% / 1h	13m 51s	$2.3M	$15.9M	50x
Short	SunX NEAR-USDT	4.3410	0.0100	get 0.0100% / 8h	3h 13m	$1K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Coinbase International. 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 Coinbase InternationalbpFee SunXbpOrdersPrice spread, now −0.191%Rate

Funding earned: $9.24
Price spread: −0.191% → +0.168%: −$35.86
Slippage, 4 orders: −$143.6
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$188.22
Costs to cover: 1.616%
Break-even: 149.6 days

Slippage from Coinbase International: live order book, 5 min ago; SunX: live order book, 11 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 Coinbase International live order book, 5 min ago	4.61 bp	12.3 bp −$12	19.1 bp −$191	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	31.04 bp	84.2 bp −$84	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	4.3308	−0.425%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3311	−0.418%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3297	−0.450%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.789%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTXlong	+0.0056%	1h	4.3493	long leg	$2.3M	$15.9M	50x
Popdex NEARUSDT	+0.0096%	1h	4.3320	−0.398%	$110K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3420	−0.168%	$265.4M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3378	−0.264%	$214.7M	$425.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3380	−0.260%	$61.4M	$288.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.558%	$246K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.3363	−0.299%	$32.1M	$62.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3400	−0.214%	$73.7M	$146.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3390	−0.237%	$53.8M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3389	−0.239%	$71.6M	$127.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3390	−0.237%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3447	−0.105%	$8.2M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3528	+0.080%	$254K	$951K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3530	+0.086%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3500	+0.016%	$167K	$796K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3343	−0.345%	$273K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3339	−0.354%	$57K	$246K	20x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.3410	−0.191%	$1K	$1.4M	20x
HTX NEAR-USDT	+0.0100%	8h	4.3400	−0.214%	$468K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3340	−0.352%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3300	−0.443%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3350	−0.329%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3410	−0.191%	$13.5M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3341	−0.349%	$401K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0273%	8h	4.3322	−0.393%	$870K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0323% / S −0.0198%	1h	4.3289	−0.469%	$234K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3400	−0.214%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0355%	1h	4.3315	−0.409%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3345	−0.340%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0564%	1h	4.3322	−0.394%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0575%	1h	4.3430	−0.144%	$355.6M	$314.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0590%	1h	4.3380	−0.260%	$1.3M	$6.8M	20x	as long as short
Extended NEAR-USD	+0.0592%	1h	4.3361	−0.303%	$3.8M	$19.9M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3360	−0.306%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3330	−0.374%	$7.6M	$39.0M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0812%	1h	4.3343	−0.345%	$1.9M	$9.6M	25x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3387	−0.244%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3602	+0.251%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1080%	1h	4.3430	−0.144%	$17.5M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3351	−0.327%	$681K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1581%	1h	4.3409	−0.193%	$5K	$13K	10x	as long as short