Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0438%/8h= −48.0% APRpaid last 24h −0.102%

Price spread now: Bybit against Nado+0.038%59s7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$280.277% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.118%−$12 on $10k

Price spread, last 7 days−0.208%−$21 · spread now +0.038%, 7d avg −0.063%

Together, before fees−0.326%+ Points / potential airdropNado: Active · farm board−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.100% dearer against Nado than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.063%): +$10 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 3 days (−0.118% in total) that is about 3.0 days. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.118% in total (about -12.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NEAR-PERP	4.5020	0.0538	pay 0.0067% / 1h	41m 34s	$1.8M	$3.2M	10x
Short	Bybit NEARUSDT	4.5037	0.0100	get 0.0100% / 8h	1h 41m	$231.8M	$429.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$92
Price spread: +0.038% → −0.063%: $10.04
Slippage, 4 orders: −$9.66
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$109.62
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from Nado: live order book, 2 min ago; Bybit: live order book, 3 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 Nado live order book, 2 min ago	0.11 bp	6.2 bp −$6	13.8 bp −$138	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.12 bp	7.8 bp −$8	11.5 bp −$115	30.1 bp −$3,011	124.4 bp −$62.2K

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	4.4988	−0.071%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4923	−0.216%	$111K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4911	−0.242%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.019%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.5030	+0.022%	$112K	$494K	50x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.5037	+0.038%	$231.8M	$429.8M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.5010	−0.022%	$63.7M	$302.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5008	−0.027%	$256K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4928	−0.204%	$35.1M	$60.2M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5000	−0.044%	$53.8M	$45.9M	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	4.5004	−0.036%	$74.6M	$127.2M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4687	−0.739%	$9.0M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4779	−0.535%	$262K	$967K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4740	−0.622%	$168K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5034	+0.031%	$284K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5022	+0.004%	$59K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5070	+0.111%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5100	+0.178%	$469K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4950	−0.155%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0107%	8h	4.4931	−0.198%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0124%	8h	4.4854	−0.369%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.5034	+0.030%	$209K	$40K	3x	as long as short
BingX NEAR-USDC	+0.0176%	8h	4.4950	−0.155%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0187%	8h	4.4980	−0.089%	$86.2M	$145.7M	200x	as long as short
Binance NEARUSDT	+0.0190%	8h	4.5037	+0.039%	$274.2M	$1.09B	75x	as long as short
SoDEX NEAR-USD	+0.0205%	1h	4.4900	−0.267%	$5K	$52K	10x	as long as short
Kalshi KXNEARPERP	+0.0293%	8h	4.4945	−0.167%	$1.1M	$25.0M	2.2x	as long as short
BloFin NEAR-USDT	+0.0305%	8h	4.4830	−0.422%	$13.6M	$33.1M	75x	as long as short
Extended NEAR-USD	+0.0320%	1h	4.4937	−0.185%	$3.7M	$18.8M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0336% / S −0.0229%	1h	4.4991	−0.064%	$258K	—	100x	as long as short
Aster NEARUSDT	+0.0338%	8h	4.5030	+0.023%	$2.9M	$5.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.5012	−0.018%	$2.3M	$16.6M	50x	as long as short
01 Exchange NEARUSD	+0.0480%	1h	4.5025	+0.011%	$13K	$7K	10x	as long as short
Nado NEAR-PERPlong	+0.0538%	1h	4.5020	long leg	$1.8M	$3.2M	10x
Backpack NEAR_USDC_PERP	+0.0582%	1h	4.4959	−0.135%	$1.3M	$6.5M	20x	as long as short
Hyperliquid NEAR	+0.0589%	1h	4.5045	+0.056%	$371.3M	$311.0M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0649%	1h	4.4960	−0.134%	$7.5M	$38.3M	50x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.5040	+0.044%	$229K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0992%	1h	4.5004	−0.036%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.5134	+0.253%	$1.9M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1017%	1h	4.5031	+0.024%	$2.0M	$12.3M	25x	as long as short
Lighter NEAR	+0.1040%	1h	4.5006	−0.032%	$17.6M	$24.8M	15x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4953	−0.148%	$414K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1241%	1h	4.4809	−0.468%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.5021	+0.003%	$675K	$1.4M	10x	as long as short