Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0270%/8h= −29.6% APRpaid last 24h −0.081%

Price spread now: Reya against Orderly+0.103%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.103% dearer against Orderly than usual: you sell high and buy low (spread +0.103% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NEAR_USDC	4.3869	0.0100	pay 0.0100% / 8h	6h 33m	$59K	$163K	20x
Short	Reya NEARRUSDPERP	4.3914	−0.0171	pay 0.0021% / 1h	33m 45s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Orderly. 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 OrderlybpFee ReyabpOrdersPrice spread, now +0.103%Rate

Funding earned: −$56.78
Price spread: +0.103% → 0.000%: $10.33
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: −$58.46
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Reya: no order-book sample. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Orderly and Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NEAR on 44 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 NEARRUSDPERPshort	−0.0171%	1h	4.3914	+0.103%	$2K	—	20x
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3820	−0.112%	$2.2M	$13.8M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3833	−0.082%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3848	−0.048%	$542K	$19.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3909	+0.091%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.605%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0052%	8h	4.3548	−0.731%	$8.3M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3840	−0.066%	$117K	$479K	50x	as long as short
Orderly PERP_NEAR_USDClong	+0.0100%	8h	4.3869	long leg	$59K	$163K	20x
Pacifica NEAR	+0.0100%	1h	4.3870	+0.002%	$415K	$1.2M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3780	−0.203%	$261.6M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3737	−0.301%	$222.5M	$420.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3760	−0.248%	$61.9M	$284.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3870	+0.002%	$208K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	−0.957%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3837	−0.073%	$31.6M	$61.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3850	−0.043%	$76.2M	$138.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3880	+0.025%	$56.2M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3753	−0.264%	$72.3M	$124.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3730	−0.317%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3236	−1.443%	$260K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3339	−1.207%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3400	−1.069%	$180K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3926	+0.130%	$215K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3910	+0.093%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3830	−0.089%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4050	+0.413%	$455K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3840	−0.066%	$3.9M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3840	−0.066%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3843	−0.058%	$3.9M	$17.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3881	+0.027%	$204K	$34K	3x	as long as short
Aster NEARUSDT	+0.0129%	8h	4.3890	+0.048%	$3.1M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0216%	1h	4.3852	−0.038%	$7.7M	$40.3M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0361% / S −0.0278%	1h	4.3901	+0.073%	$263K	—	100x	as long as short
01 Exchange NEARUSD	+0.0376%	1h	4.3874	+0.011%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0409%	1h	4.3885	+0.036%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3870	+0.002%	$547K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3434	−0.992%	$1.8M	$2.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0594%	1h	4.3884	+0.034%	$1.9M	$4.1M	25x	as long as short
Lighter RH NEAR	+0.0720%	1h	4.3784	−0.194%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0783%	1h	4.3828	−0.093%	$367.8M	$304.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0839%	1h	4.3915	+0.105%	$1.4M	$6.0M	20x	as long as short
Aftermath Perps NEARUSD	+0.1427%	1h	4.3483	−0.880%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1496%	1h	4.3814	−0.126%	$17.5M	$24.8M	15x	as long as short