Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.026%

Price spread now: dYdX against MEXC−0.056%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$291as in the Funding arb table

Net, price: spread back to 7d avg − costs−$280as in the Price arb table

costs, in and out, $10k−$2752.745% of the position

Long on MEXC Short on dYdX

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)−0.122%−$12 · spread now −0.056%, 7d avg −0.006%

Together, before fees−0.285%−$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.050% cheaper against MEXC than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NEAR_USDT	4.2890	0.0100	pay 0.0100% / 8h	7h 45m	$79.5M	$138.8M	200x
Short	dYdX NEAR-USD	4.2866	0	get 0.0000% / 1h	45m 34s	$111K	$64K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against MEXC. 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 MEXCbpFee dYdXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$21
Price spread: −0.056% → −0.006%: −$5.02
Slippage, 4 orders: −$264.52
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$300.54
Costs to cover: 2.745%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; dYdX: live order book, 28 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 MEXC live order book, 4 min ago	1.16 bp	1.9 bp −$2	4.5 bp −$45	38.4 bp −$3,841	77.4 bp −$38.7K
Sell dYdX live order book, 28 min ago	73.01 bp	78.0 bp −$78	96.1 bp −$961	98.9 bp −$9,890	99.1 bp −$49.6K

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	4.2843	−0.110%	$2K	—	20x	as long as short
Bybit NEARUSDT	−0.0147%	8h	4.2866	−0.056%	$218.7M	$418.8M	75x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.3043	+0.356%	$7.6M	$37.1M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2960	+0.163%	$2.3M	$13.0M	50x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.2866	−0.056%	$111K	$64K	10x
01 Exchange NEARUSD	0.0000%	1h	4.2896	+0.014%	$13K	$7K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2913	+0.054%	$377K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2992	+0.238%	$204K	—	150x	as long as short
Variational Omni NEAR	+0.0008%	8h	4.2958	+0.159%	$8.0M	$18.7M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.451%	$578	$302K	12x	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	+0.0056%	8h	4.2887	−0.007%	$30.9M	$58.7M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2900	+0.023%	$112K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3056	+0.387%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2869	−0.050%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2901	+0.025%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2893	+0.008%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2880	−0.023%	$254.8M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2870	−0.047%	$60.9M	$278.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2910	+0.047%	$197K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3050	+0.373%	$245K	−$0	10x	as long as short
MEXC NEAR_USDTlong	+0.0100%	8h	4.2890	long leg	$79.5M	$138.8M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.2910	+0.047%	$56.2M	$43.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2868	−0.051%	$71.1M	$124.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2880	−0.023%	—	$141.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3101	+0.492%	$277K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3108	+0.508%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2900	+0.023%	$179K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2892	+0.005%	$193K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3100	+0.490%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3010	+0.280%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3100	+0.490%	$458K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2970	+0.187%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2863	−0.062%	$3.9M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3043	+0.356%	$200K	$28K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2970	+0.187%	$13.1M	$29.1M	75x	as long as short
Hyperliquid NEAR	+0.0257%	1h	4.2921	+0.072%	$365.5M	$300.5M	10x	as long as short
Lighter RH NEAR	+0.0288%	1h	4.2916	+0.061%	$1.6M	$6.9M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0354%	1h	4.3076	+0.434%	$1.9M	$3.0M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2985	+0.221%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2914	+0.056%	$408K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0466%	1h	4.2873	−0.039%	$1.9M	$3.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0468%	1h	4.2967	+0.180%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3171	+0.655%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1279%	1h	4.3056	+0.387%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.2176%	1h	4.2998	+0.251%	$17.2M	$23.9M	15x	as long as short