Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.004%

Price spread now: Injective against Paradex−4.378%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.378% cheaper against Paradex than usual: you would sell low and buy high (−$438 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex NEAR-USD-PERP	4.3306	0.0101	pay 0.0101% / 8h	3h 43m	$31K	$608	10x
Short	Injective NEAR/USDC PERP	4.1410	0.0033	get 0.0004% / 1h	43m 10s	$578	$301K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Paradex. 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 ParadexbpFee InjectivebpOrdersPrice spread, now −4.378%Rate

Funding earned: −$14.18
Price spread: −4.378% → 0.000%: −$437.8
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$456
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Injective: 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 Paradex no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Paradex and Injective: 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 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	4.3355	+0.113%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3308	+0.004%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3315	+0.020%	$162K	—	150x	as long as short
Injective NEAR/USDC PERPshort	+0.0033%	1h	4.1410	−4.378%	$578	$301K	12x
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3406	+0.231%	$2.3M	$16.0M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3360	+0.125%	$108K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3370	+0.148%	$266.1M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3300	−0.014%	$215.7M	$427.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3320	+0.033%	$61.7M	$291.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3400	+0.217%	$247K	−$0	10x	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	+0.0100%	8h	4.3351	+0.104%	$31.7M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3360	+0.125%	$73.7M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3350	+0.102%	$53.9M	$46.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3322	+0.037%	$71.1M	$128.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3320	+0.033%	—	$146.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	+0.211%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3444	+0.318%	$254K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3214	−0.212%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3100	−0.475%	$166K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3398	+0.213%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3356	+0.116%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3450	+0.333%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3500	+0.448%	$462K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3370	+0.148%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERPlong	+0.0101%	8h	4.3306	long leg	$31K	$608	10x
Aevo NEAR-PERP	+0.0104%	1h	4.3350	+0.102%	$202K	$37K	3x	as long as short
Kalshi KXNEARPERP	+0.0130%	8h	4.3392	+0.199%	$654K	$23.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3390	+0.194%	$13.8M	$32.2M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3342	+0.083%	$412K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.3360	+0.125%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0194%	1h	4.3316	+0.024%	$232K	—	100x	as long as short
SoDEX NEAR-USD	+0.0421%	1h	4.3318	+0.028%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0512%	1h	4.3350	+0.102%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3423	+0.270%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0610%	1h	4.3419	+0.261%	$356.5M	$320.5M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3420	+0.263%	$213K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0672%	1h	4.3311	+0.013%	$3.8M	$19.8M	25x	as long as short
Nado NEAR-PERP	+0.0697%	1h	4.3380	+0.171%	$1.8M	$3.1M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3327	+0.049%	$7.6M	$39.6M	50x	as long as short
Lighter RH NEAR	+0.0856%	1h	4.3387	+0.187%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3302	−0.009%	$1.8M	$2.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0997%	1h	4.3357	+0.118%	$2.0M	$8.8M	25x	as long as short
Lighter NEAR	+0.1144%	1h	4.3390	+0.195%	$17.5M	$24.9M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3430	+0.287%	$627K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1582%	1h	4.3407	+0.234%	$5K	$12K	10x	as long as short