Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.018%

Price spread now: Bybit against dYdX+0.094%50s7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1321.325% of the position

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)−0.169%−$17 · spread now +0.094%, 7d avg −0.021%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.115% dearer against dYdX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.021%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.4099	0	get 0.0000% / 1h	3m 51s	$109K	$68K	10x
Short	Bybit NEARUSDT	4.4140	0.0100	get 0.0100% / 8h	2h 03m	$221.8M	$423.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.094%Rate

Funding earned: $21
Price spread: +0.094% → −0.021%: $11.47
Slippage, 4 orders: −$111.48
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$100
Costs to cover: 1.325%
Break-even: 40.3 days

Slippage from dYdX: live order book, 45 min ago; Bybit: live order book, 5 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, 45 min ago	43.23 bp	48.3 bp −$48	75.6 bp −$756	124.6 bp −$12.5K	192.7 bp −$96.4K
Sell Bybit live order book, 5 min ago	1.14 bp	9.9 bp −$10	13.4 bp −$134	34.0 bp −$3,403	134.5 bp −$67.2K

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	4.4107	+0.020%	$2K	—	20x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.4099	long leg	$109K	$68K	10x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4128	+0.068%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.097%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4170	+0.162%	$117K	$497K	50x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.4140	+0.094%	$221.8M	$423.1M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4140	+0.094%	$62.3M	$294.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3500	−1.357%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4148	+0.112%	$33.7M	$61.3M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4200	+0.230%	$53.3M	$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	4.4140	+0.094%	$72.8M	$127.1M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4197	+0.224%	$8.9M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4038	−0.138%	$257K	$964K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4185	+0.196%	$272K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4168	+0.158%	$58K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4240	+0.321%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4180	+0.185%	$468K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4150	+0.117%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4101	+0.006%	$32K	$608	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0111%	8h	4.4060	−0.087%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.4170	+0.162%	$205K	$40K	3x	as long as short
BingX NEAR-USDT	+0.0133%	8h	4.4150	+0.117%	—	$143.8M	—	as long as short
MEXC NEAR_USDT	+0.0142%	8h	4.4160	+0.139%	$83.7M	$146.7M	200x	as long as short
Binance NEARUSDT	+0.0144%	8h	4.4188	+0.204%	$268.6M	$1.09B	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.4256	+0.357%	$2.3M	$16.4M	50x	as long as short
BloFin NEAR-USDT	+0.0262%	8h	4.4150	+0.117%	$13.3M	$32.6M	75x	as long as short
Kalshi KXNEARPERP	+0.0311%	8h	4.4137	+0.087%	$1.0M	$24.7M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0201%	1h	4.4133	+0.078%	$236K	—	100x	as long as short
Aster NEARUSDT	+0.0342%	8h	4.4190	+0.207%	$2.9M	$5.2M	50x	as long as short
Nado NEAR-PERP	+0.0391%	1h	4.4135	+0.083%	$1.7M	$3.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0434%	1h	4.4030	−0.155%	$168K	$797K	50x	as long as short
Extended NEAR-USD	+0.0448%	1h	4.4152	+0.122%	$3.7M	$19.2M	25x	as long as short
SoDEX NEAR-USD	+0.0493%	1h	4.4145	+0.105%	$5K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0680%	1h	4.4228	+0.294%	$364.0M	$311.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0696%	1h	4.4198	+0.226%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0712%	1h	4.4229	+0.296%	$13K	$7K	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0716%	1h	4.4141	+0.095%	$7.3M	$39.1M	50x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.4210	+0.253%	$226K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.4124	+0.058%	$404K	$1.4M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.4209	+0.251%	$17.4M	$25.3M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.4241	+0.323%	$1.8M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1109%	1h	4.4196	+0.221%	$2.0M	$12.1M	25x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.4206	+0.244%	$1.5M	$7.5M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.4204	+0.238%	$703K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1247%	1h	4.3901	−0.447%	$5K	$12K	10x	as long as short