Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0605%/8h= +66.3% APRpaid last 24h +0.192%

Price spread now: Hyperliquid against Variational Omni+0.071%7-day average +0.090% · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.360%+$36 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.071%, 7d avg +0.090%

Together, before fees+0.337%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board+$34 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.090%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NEAR	4.2998	0.0100	pay 0.0100% / 8h	2h 34m	$8.2M	$18.0M	—
Short	Hyperliquid NEAR	4.3029	0.0705	get 0.0088% / 1h	34m 31s	$351.6M	$310.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now +0.071%Rate

Funding earned: $127.13
Price spread: +0.071% → +0.090%: −$1.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $116.28
Costs to cover: 0.090%
Break-even: 0.6 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Hyperliquid: live order book, 10 min ago. 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 Variational Omni RFQ quote, 5 min ago	3.88 bp	doesn't fit	10.2 bp −$102	28.8 bp −$2,878	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.58 bp	7.4 bp −$7	doesn't fit	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	4.3095	+0.225%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2971	−0.063%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3077	+0.183%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.694%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3000	+0.004%	$113K	$500K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3021	+0.052%	$262.9M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2983	−0.036%	$213.8M	$420.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3000	+0.004%	$60.5M	$285.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2850	−0.345%	$244K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2947	−0.119%	$32.3M	$59.9M	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	4.2980	−0.043%	$74.7M	$143.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2990	−0.019%	$51.9M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2945	−0.124%	$70.9M	$127.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2980	−0.043%	—	$143.7M	—	as long as short
Variational Omni NEARlong	+0.0100%	8h	4.2998	long leg	$8.2M	$18.0M	—
edgeX NEARUSDC	+0.0100%	4h	4.2986	−0.028%	$251K	$949K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2990	−0.020%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3133	+0.313%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3129	+0.304%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3190	+0.446%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3200	+0.469%	$464K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3120	+0.283%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2959	−0.091%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3140	+0.329%	$201K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3140	+0.329%	$13.3M	$31.8M	75x	as long as short
Kalshi KXNEARPERP	+0.0250%	8h	4.3101	+0.239%	$858K	$24.5M	2.2x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3140	+0.329%	$2.3M	$15.9M	50x	as long as short
ApeX Omni NEARUSDT	+0.0281%	1h	4.2980	−0.043%	$165K	$794K	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.3076	+0.182%	$233K	—	100x	as long as short
Aster NEARUSDT	+0.0338%	8h	4.3000	+0.004%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0356%	1h	4.2963	−0.083%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2938	−0.139%	$3.7M	$19.8M	25x	as long as short
SoDEX NEAR-USD	+0.0604%	1h	4.3105	+0.248%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0660%	1h	4.3120	+0.283%	$1.3M	$6.7M	20x	as long as short
Hyperliquid NEARshort	+0.0705%	1h	4.3029	+0.071%	$351.6M	$310.0M	10x
Kraken Futures PF_NEARUSD	+0.0734%	1h	4.3110	+0.260%	$7.5M	$38.7M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.3067	+0.160%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3020	+0.050%	$216K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2988	−0.025%	$394K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.3043	+0.104%	$16.8M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3144	+0.339%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1104%	1h	4.3042	+0.102%	$1.5M	$7.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1143%	1h	4.3140	+0.329%	$2.0M	$11.0M	25x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3008	+0.022%	$691K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1397%	1h	4.2915	−0.194%	$5K	$12K	10x	as long as short