Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0234%/8h= −25.7% APRpaid last 24h −0.178%

Price spread now: MEXC against Hyperliquid+0.010%7-day average −0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

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

costs, in and out, $10k−$180.176% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.380%−$38 on $10k

Price spread, last 7 days−0.032%−$3 · spread now +0.010%, 7d avg −0.096%

Together, before fees−0.411%+ Points / potential airdropHyperliquid: Season 2 · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.106% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.096%): +$11 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid NEAR	4.1576	0.0334	pay 0.0042% / 1h	47m 25s	$349.4M	$298.3M	10x
Short	MEXC NEAR_USDT	4.1580	0.0100	get 0.0100% / 8h	1h 47m	$81.9M	$141.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$49.23
Price spread: +0.010% → −0.096%: $10.57
Slippage, 4 orders: −$8.57
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$56.23
Costs to cover: 0.176%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 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 Hyperliquid live order book, 7 min ago	0.12 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	2.41 bp	2.4 bp −$2	4.7 bp −$47	21.7 bp −$2,171	38.1 bp −$19.1K

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	4.1503	−0.176%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1379	−0.474%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.399%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1611	+0.084%	$107K	$56K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1543	−0.079%	$435K	$18.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1565	−0.026%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1596	+0.047%	$7.5M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0072%	1h	4.1544	−0.077%	$12K	$7K	10x	as long as short
Lighter NEAR	+0.0096%	1h	4.1676	+0.239%	$15.3M	$22.5M	15x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1530	−0.111%	$111K	$483K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1583	+0.017%	$54K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1609	+0.078%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1633	+0.137%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1605	+0.070%	$350K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1543	−0.080%	$236.9M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1520	−0.135%	$211.9M	$423.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1510	−0.159%	$56.8M	$274.6M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1580	+0.010%	$308K	$1.6M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1570	−0.014%	$29.6M	$56.9M	75x	as long as short
MEXC NEAR_USDTshort	+0.0100%	8h	4.1580	+0.010%	$81.9M	$141.0M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.1640	+0.154%	$56.3M	$44.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1513	−0.152%	$69.0M	$125.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1540	−0.087%	—	$136.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1461	−0.275%	$7.7M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1473	−0.249%	$236K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1500	−0.182%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1510	−0.159%	$182K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1554	−0.053%	$197K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1570	−0.014%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1560	−0.038%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1570	−0.014%	$3.8M	$8.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1450	−0.303%	$236K	$4K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1533	−0.103%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1570	−0.014%	$200K	$62K	3x	as long as short
Lighter RH NEAR	+0.0128%	1h	4.1632	+0.135%	$1.4M	$6.9M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1460	−0.279%	$12.2M	$33.4M	75x	as long as short
Hyperliquid NEARlong	+0.0334%	1h	4.1576	long leg	$349.4M	$298.3M	10x
RISEx NEAR/USDC	+0.0364%	1h	4.1559	−0.040%	$411K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0380% / S −0.0327%	1h	4.1575	−0.002%	$280K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0472%	1h	4.1611	+0.084%	$1.2M	$5.7M	20x	as long as short
Nado NEAR-PERP	+0.0489%	1h	4.1513	−0.151%	$1.8M	$3.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0495%	1h	4.1614	+0.091%	$1.8M	$2.1M	25x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1447	−0.310%	$1.7M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.0898%	1h	4.1437	−0.335%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1016%	8h	4.1670	+0.226%	$446K	$3.6M	75x	as long as short