Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.026%

Price spread now: dYdX against SunX−0.483%7-day average −0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs−$277as in the Funding arb table

Net, price: spread back to 7d avg − costs−$289as in the Price arb table

costs, in and out, $10k−$2562.563% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.483%, 7d avg −0.155%

Together, before fees−0.154%−$15 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 0.328% cheaper against SunX than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.155%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NEAR-USDT	4.3160	0.0100	pay 0.0100% / 8h	2h 23m	$2K	$1.3M	20x
Short	dYdX NEAR-USD	4.2951	0	get 0.0000% / 1h	23m 27s	$106K	$68K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now −0.483%Rate

Funding earned: −$21
Price spread: −0.483% → −0.155%: −$32.81
Slippage, 4 orders: −$238.3
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$310.11
Costs to cover: 2.563%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; dYdX: live order book, 25 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 SunX live order book, 11 min ago	31.33 bp	54.9 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 25 min ago	43.23 bp	65.8 bp −$66	147.0 bp −$1,470	161.2 bp −$16.1K	360.4 bp −$180.2K

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	4.2995	−0.382%	$2K	—	20x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.2951	−0.483%	$106K	$68K	10x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2989	−0.397%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.055%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3000	−0.371%	$113K	$498K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3019	−0.328%	$263.3M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2975	−0.429%	$214.4M	$420.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3000	−0.371%	$60.4M	$285.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	−0.377%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2958	−0.468%	$32.5M	$60.1M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2990	−0.394%	$77.2M	$144.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3030	−0.301%	$51.8M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2989	−0.396%	$71.1M	$127.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2970	−0.440%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2778	−0.885%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2867	−0.678%	$258K	$954K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3020	−0.325%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3017	−0.331%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3065	−0.220%	$56K	$243K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.3160	long leg	$2K	$1.3M	20x
HTX NEAR-USDT	+0.0100%	8h	4.3190	+0.070%	$465K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3050	−0.255%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2968	−0.446%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3085	−0.174%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3070	−0.209%	$13.3M	$31.7M	75x	as long as short
ApeX Omni NEARUSDT	+0.0226%	1h	4.2860	−0.695%	$165K	$794K	50x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3116	−0.102%	$2.3M	$16.0M	50x	as long as short
Kalshi KXNEARPERP	+0.0275%	8h	4.3127	−0.076%	$880K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.3004	−0.361%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0333%	8h	4.2999	−0.373%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0400%	1h	4.3004	−0.362%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2931	−0.531%	$3.6M	$19.6M	25x	as long as short
SoDEX NEAR-USD	+0.0589%	1h	4.3055	−0.243%	$6K	$52K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0668%	1h	4.3076	−0.195%	$1.3M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0673%	1h	4.3033	−0.294%	$352.5M	$309.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0735%	1h	4.3036	−0.287%	$7.4M	$38.8M	50x	as long as short
01 Exchange NEARUSD	+0.0744%	1h	4.3016	−0.334%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3000	−0.371%	$222K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.3000	−0.371%	$394K	$1.3M	10x	as long as short
Lighter NEAR	+0.0936%	1h	4.3044	−0.268%	$16.8M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3164	+0.009%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1136%	1h	4.3043	−0.271%	$1.4M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2988	−0.399%	$686K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1377%	1h	4.3090	−0.162%	$1.9M	$11.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1386%	1h	4.2970	−0.440%	$5K	$12K	10x	as long as short