Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0629%/8h= +68.9% APRpaid last 24h +0.091%

Price spread now: Nado against SunX+0.001%7-day average −0.157% · 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−$130as in the Price arb table

costs, in and out, $10k−$1461.458% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.562%−$56 · spread now +0.001%, 7d avg −0.157%

Together, before fees−0.465%+ Points / potential airdropNado: Active · farm board−$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Nado is 0.157% dearer against SunX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.157%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.097% in total (about 10.5% 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	SunX NEAR-USDT	4.3240	0.0100	pay 0.0100% / 8h	3h 43m	$1K	$1.4M	20x
Short	Nado NEAR-PERP	4.3240	0.0729	get 0.0091% / 1h	43m 57s	$1.8M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.001%Rate

Funding earned: $132.16
Price spread: +0.001% → −0.157%: $15.73
Slippage, 4 orders: −$130.81
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $2.09
Costs to cover: 1.458%
Break-even: 6.9 days

Slippage from SunX: live order book, 11 min ago; Nado: 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 SunX live order book, 11 min ago	30.83 bp	50.8 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	0.34 bp	7.4 bp −$7	15.5 bp −$155	doesn't fit	doesn't fit

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	4.3195	−0.104%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3146	−0.218%	$106K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3139	−0.233%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.232%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3225	−0.035%	$2.3M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3250	+0.023%	$107K	$502K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3338	+0.226%	$266.5M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3300	+0.139%	$216.1M	$427.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3320	+0.185%	$61.6M	$291.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3771	+1.228%	$249K	−$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	4.3270	+0.069%	$31.7M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3330	+0.208%	$73.6M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3320	+0.185%	$53.8M	$46.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3267	+0.062%	$71.0M	$128.9M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3320	+0.185%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	+0.364%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3444	+0.471%	$254K	$950K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3580	+0.786%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3430	+0.439%	$167K	$799K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3253	+0.030%	$260K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3186	−0.125%	$57K	$246K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.3240	long leg	$1K	$1.4M	20x
HTX NEAR-USDT	+0.0100%	8h	4.3290	+0.116%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3230	−0.023%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3194	−0.106%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3198	−0.097%	$201K	$37K	3x	as long as short
Kalshi KXNEARPERP	+0.0138%	8h	4.3184	−0.130%	$652K	$23.1M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	+0.046%	$13.7M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3163	−0.179%	$410K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0306%	8h	4.3274	+0.079%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0320% / S −0.0194%	1h	4.3140	−0.230%	$231K	—	100x	as long as short
SoDEX NEAR-USD	+0.0408%	1h	4.3165	−0.173%	$8K	$49K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0485%	1h	4.3294	+0.125%	$1.3M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3286	+0.106%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0590%	1h	4.3303	+0.145%	$355.5M	$320.0M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3290	+0.116%	$212K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0664%	1h	4.3260	+0.047%	$3.8M	$19.8M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0714%	1h	4.3160	−0.185%	$7.6M	$39.8M	50x	as long as short
Nado NEAR-PERPshort	+0.0729%	1h	4.3240	+0.001%	$1.8M	$3.1M	10x
Lighter RH NEAR	+0.0856%	1h	4.3235	−0.012%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3717	+1.103%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1144%	1h	4.3243	+0.006%	$17.4M	$24.9M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3293	+0.122%	$625K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1583%	1h	4.3419	+0.414%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1929%	1h	4.3241	+0.002%	$2.0M	$8.8M	25x	as long as short