Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.029%

Price spread now: BingX against dYdX+0.035%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$980.983% of the position

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)+0.219%+$22 · spread now +0.035%, 7d avg +0.014%

Together, before fees+0.336%+$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BingX is 0.021% dearer against dYdX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.3645	0	get 0.0000% / 1h	59m 26s	$107K	$68K	10x
Short	BingX NEAR-USDT	4.3660	0.0146	get 0.0146% / 8h	7h 59m	—	$83.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. 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 dYdXbpFee BingXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $30.66
Price spread: +0.035% → +0.014%: $2.06
Slippage, 4 orders: −$78.29
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$65.56
Costs to cover: 0.983%
Break-even: 22.0 days

Slippage from dYdX: live order book, 39 min ago; BingX: live order book, 10 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 dYdX live order book, 39 min ago	28.93 bp	40.6 bp −$41	100.1 bp −$1,001	210.3 bp −$21.0K	681.3 bp −$340.6K
Sell BingX live order book, 10 min ago	6.86 bp	11.9 bp −$12	15.4 bp −$154	26.5 bp −$2,651	50.4 bp −$25.2K

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	4.3638	−0.016%	$2K	—	20x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.3645	long leg	$107K	$68K	10x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3751	+0.243%	$164K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3660	+0.036%	$7.2M	$38.7M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.120%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3590	−0.125%	$115K	$500K	50x	as long as short
Nado NEAR-PERP	+0.0100%	1h	4.3685	+0.092%	$1.7M	$3.2M	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3625	−0.044%	$2.7M	$4.8M	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3680	+0.081%	$220.4M	$430.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3680	+0.081%	$61.6M	$296.6M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk NEAR-USD	+0.0100%	1h	4.3750	+0.241%	$249K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3653	+0.019%	$36.0M	$61.5M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3670	+0.058%	$52.9M	$45.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3689	+0.102%	$72.2M	$127.5M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3629	−0.036%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3577	−0.154%	$253K	$897K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3670	+0.058%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3590	−0.125%	$166K	$815K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3680	+0.081%	$273K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3683	+0.088%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3720	+0.173%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3670	+0.058%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3690	+0.104%	$3.5M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3662	+0.040%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3622	−0.053%	$3.6M	$16.3M	25x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3675	+0.070%	$203K	$40K	3x	as long as short
Binance NEARUSDT	+0.0138%	8h	4.3633	−0.028%	$263.6M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0140%	8h	4.3680	+0.081%	$89.1M	$152.3M	200x	as long as short
BingX NEAR-USDTshort	+0.0146%	8h	4.3660	+0.035%	—	$83.2M	—
HTX NEAR-USDT	+0.0162%	8h	4.3750	+0.241%	$466K	$3.8M	75x	as long as short
Kalshi KXNEARPERP	+0.0166%	8h	4.3664	+0.044%	$916K	$25.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0262%	8h	4.3710	+0.150%	$13.4M	$32.2M	75x	as long as short
01 Exchange NEARUSD	+0.0272%	1h	4.3617	−0.063%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0344% / S −0.0244%	1h	4.3681	+0.084%	$254K	—	100x	as long as short
Hyperliquid NEAR	+0.0470%	1h	4.3713	+0.157%	$352.6M	$316.9M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0480%	1h	4.3701	+0.129%	$1.1M	$7.2M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3740	+0.218%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEAR	+0.0512%	1h	4.3724	+0.182%	$1.5M	$6.4M	10x	as long as short
Lighter NEAR	+0.0560%	1h	4.3743	+0.226%	$17.2M	$23.7M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3660	+0.035%	$229K	$1.5M	10x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.3638	−0.016%	$602K	$1.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0758%	1h	4.3713	+0.157%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3684	+0.091%	$412K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3666	+0.049%	$1.8M	$2.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1103%	1h	4.3638	−0.015%	$5K	$7K	10x	as long as short