Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: MEXC against dYdX+0.075%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$259as in the Funding arb table

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$2752.754% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now +0.075%, 7d avg +0.007%

Together, before fees+0.239%+$24 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 MEXC is 0.068% dearer against dYdX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX NEAR-USD	4.2768	0	get 0.0000% / 1h	12m 31s	$111K	$62K	10x
Short	MEXC NEAR_USDT	4.2800	0.0100	get 0.0100% / 8h	12m 31s	$78.6M	$142.5M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.075%Rate

Funding earned: $21
Price spread: +0.075% → +0.007%: $6.83
Slippage, 4 orders: −$265.39
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$247.56
Costs to cover: 2.754%
Break-even: 89.5 days

Slippage from dYdX: live order book, 1 min ago; MEXC: 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 dYdX live order book, 1 min ago	73.01 bp	193.3 bp −$193	193.4 bp −$1,934	193.4 bp −$19.3K	193.8 bp −$96.9K
Sell MEXC live order book, 2 min ago	1.17 bp	1.2 bp −$1	5.6 bp −$56	40.2 bp −$4,024	78.8 bp −$39.4K

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	4.2711	−0.134%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2745	−0.054%	$2.2M	$13.1M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.2768	long leg	$111K	$62K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.2667	−0.236%	$366K	$18.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2778	+0.023%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.175%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0047%	8h	4.2759	−0.022%	$7.9M	$18.5M	—	as long as short
Bybit NEARUSDT	+0.0053%	8h	4.2830	+0.145%	$218.2M	$422.9M	75x	as long as short
01 Exchange NEARUSD	+0.0072%	1h	4.2843	+0.175%	$13K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2840	+0.168%	$110K	$497K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2803	+0.082%	$31K	$647	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2788	+0.047%	$57K	$194K	20x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2781	+0.031%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2763	−0.012%	$400K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2839	+0.166%	$253.6M	$1.08B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2830	+0.145%	$60.8M	$287.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2830	+0.145%	$196K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2950	+0.426%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2822	+0.126%	$31.0M	$60.6M	75x	as long as short
MEXC NEAR_USDTshort	+0.0100%	8h	4.2800	+0.075%	$78.6M	$142.5M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.2750	−0.042%	$55.8M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2824	+0.131%	$71.1M	$126.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2810	+0.098%	—	$140.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2693	−0.175%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2783	+0.035%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2690	−0.182%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2731	−0.087%	$196K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2780	+0.028%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2755	−0.030%	$4K	$54K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2710	−0.136%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2813	+0.105%	$3.9M	$16.2M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2770	+0.005%	$202K	$66K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0118%	1h	4.2790	+0.051%	$7.6M	$37.6M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2710	−0.136%	$13.1M	$29.3M	75x	as long as short
Lighter RH NEAR	+0.0320%	1h	4.2822	+0.126%	$1.6M	$7.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2765	−0.006%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2861	+0.218%	$421K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0446%	1h	4.2770	+0.005%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2892	+0.290%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0475%	1h	4.2815	+0.110%	$1.9M	$2.5M	25x	as long as short
Nado NEAR-PERP	+0.0666%	1h	4.2800	+0.075%	$1.9M	$3.4M	10x	as long as short
Hyperliquid NEAR	+0.0669%	1h	4.2779	+0.026%	$365.0M	$301.3M	10x	as long as short
HTX NEAR-USDT	+0.0774%	8h	4.2790	+0.051%	$457K	$3.7M	75x	as long as short
Aftermath Perps NEARUSD	+0.1115%	1h	4.2758	−0.023%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1696%	1h	4.2868	+0.235%	$16.9M	$24.2M	15x	as long as short