Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: OKX against Aevo−0.117%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1491.490% of the position

Long on Aevo Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.117%, 7d avg −0.049%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.067% cheaper against Aevo than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo NEAR-PERP	4.2860	0.0104	pay 0.0013% / 1h	26m 19s	$199K	$37K	3x
Short	OKX NEAR-USDT-SWAP	4.2810	0.0100	get 0.0100% / 8h	2h 26m	$60.2M	$284.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Aevo. 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 AevobpFee OKXbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$0.84
Price spread: −0.117% → −0.049%: −$6.73
Slippage, 4 orders: −$122.97
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$156.54
Costs to cover: 1.490%
Break-even: never at this rate

Slippage from Aevo: live order book, 23 min ago; OKX: live order book, 3 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 Aevo live order book, 23 min ago	9.34 bp	68.7 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.16 bp	8.9 bp −$9	15.0 bp −$150	43.4 bp −$4,344	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	4.2837	−0.054%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2793	−0.156%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2778	−0.190%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.383%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2840	−0.047%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2850	−0.023%	$262.0M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2782	−0.182%	$213.3M	$420.1M	75x	as long as short
OKX NEAR-USDT-SWAPshort	+0.0100%	8h	4.2810	−0.117%	$60.2M	$284.1M	50x
Bulk NEAR-USD	+0.0100%	1h	4.2997	+0.321%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2787	−0.170%	$32.3M	$60.0M	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	4.2840	−0.047%	$77.3M	$144.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2830	−0.070%	$51.7M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2801	−0.138%	$70.7M	$127.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2810	−0.117%	—	$143.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2878	+0.043%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2992	+0.308%	$259K	$953K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2900	+0.093%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2861	+0.002%	$260K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2833	−0.063%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2960	+0.233%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2890	+0.070%	$462K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2820	−0.093%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2861	+0.002%	$31K	$608	10x	as long as short
Aevo NEAR-PERPlong	+0.0104%	1h	4.2860	long leg	$199K	$37K	3x
ApeX Omni NEARUSDT	+0.0209%	1h	4.3020	+0.373%	$165K	$795K	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2820	−0.093%	$13.2M	$31.5M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2859	−0.002%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0269%	8h	4.2888	+0.065%	$867K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2777	−0.194%	$231K	—	100x	as long as short
Aster NEARUSDT	+0.0332%	8h	4.2820	−0.093%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0400%	1h	4.2850	−0.023%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2798	−0.145%	$3.6M	$19.6M	25x	as long as short
SoDEX NEAR-USD	+0.0568%	1h	4.2815	−0.105%	$6K	$52K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0656%	1h	4.2797	−0.147%	$1.3M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0678%	1h	4.2876	+0.037%	$350.5M	$310.5M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0739%	1h	4.2792	−0.159%	$7.4M	$38.8M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.2897	+0.086%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2900	+0.093%	$215K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2840	−0.048%	$392K	$1.3M	10x	as long as short
Lighter NEAR	+0.0936%	1h	4.2876	+0.038%	$16.8M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2991	+0.306%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1128%	1h	4.2838	−0.051%	$1.4M	$7.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1199%	1h	4.2842	−0.042%	$1.9M	$11.0M	25x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2882	+0.052%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1386%	1h	4.2876	+0.038%	$5K	$12K	10x	as long as short