Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0195%/8h= −21.4% APRpaid last 24h −0.009%

Price spread now: Bybit against Polymarket Perps−0.030%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 7 days−0.072%−$7 · spread now −0.030%, 7d avg −0.051%

Together, before fees−0.105%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.021% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.030% now, against its 7-day average of −0.051%): +$2 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.033% in total) that is about 4.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.033% in total (about -1.7% 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	Polymarket Perps NEAR-USD	4.3106	0.0100	pay 0.0013% / 1h	49m 16s	$193K	$3.5M	10x
Short	Bybit NEARUSDT	4.3093	−0.0095	pay 0.0095% / 8h	7h 49m	$219.8M	$419.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket Perps. 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$41.02
Price spread: −0.030% → −0.051%: $2.1
Slippage, 4 orders: −$12.32
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$70.25
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Bybit: live order book, 5 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 Polymarket Perps live order book, 5 min ago	2.43 bp	6.4 bp −$6	9.8 bp −$98	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.16 bp	7.1 bp −$7	11.5 bp −$115	34.8 bp −$3,478	169.5 bp −$84.7K

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
Phemex NEARUSDT	−0.0390%	8h	4.3130	+0.056%	$3.9M	$8.6M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.3069	−0.085%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0130%	1h	4.3162	+0.130%	$7.6M	$37.1M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3016	−0.209%	$2.3M	$13.0M	50x	as long as short
Bybit NEARUSDTshort	−0.0095%	8h	4.3093	−0.030%	$219.8M	$419.0M	75x
dYdX NEAR-USD	0.0000%	1h	4.3123	+0.039%	$112K	$64K	10x	as long as short
01 Exchange NEARUSD	0.0000%	1h	4.3140	+0.079%	$13K	$7K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3058	−0.111%	$377K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3120	+0.032%	$204K	—	150x	as long as short
Variational Omni NEAR	+0.0014%	8h	4.2988	−0.273%	$7.9M	$18.6M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.934%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3130	+0.056%	$112K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3150	+0.102%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3034	−0.167%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3151	+0.104%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3072	−0.078%	$403K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3130	+0.055%	$256.1M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3110	+0.009%	$61.3M	$282.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3140	+0.079%	$198K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2646	−1.067%	$243K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3111	+0.012%	$31.1M	$58.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3120	+0.032%	$80.0M	$138.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3120	+0.032%	$56.5M	$43.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3128	+0.051%	$71.5M	$125.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3100	−0.014%	—	$141.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3062	−0.103%	$267K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3082	−0.056%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3000	−0.246%	$180K	$791K	50x	as long as short
Polymarket Perps NEAR-USDlong	+0.0100%	1h	4.3106	long leg	$193K	$3.5M	10x
SunX NEAR-USDT	+0.0100%	8h	4.3190	+0.195%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3140	+0.079%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0102%	8h	4.3200	+0.218%	$460K	$3.6M	75x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3119	+0.030%	$3.9M	$16.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3140	+0.079%	$201K	$28K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3080	−0.060%	$13.0M	$29.3M	75x	as long as short
Hyperliquid NEAR	+0.0331%	1h	4.3153	+0.109%	$368.0M	$300.0M	10x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.3190	+0.195%	$1.6M	$6.8M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0377% / S −0.0313%	1h	4.3117	+0.027%	$276K	—	100x	as long as short
Nado NEAR-PERP	+0.0416%	1h	4.3080	−0.060%	$1.9M	$3.3M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3147	+0.095%	$410K	$1.2M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0492%	1h	4.3172	+0.153%	$1.9M	$3.0M	25x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3171	+0.151%	$1.8M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0501%	1h	4.3109	+0.007%	$1.4M	$5.6M	20x	as long as short
Aftermath Perps NEARUSD	+0.1236%	1h	4.3045	−0.142%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.2232%	1h	4.3263	+0.365%	$17.3M	$23.9M	15x	as long as short