Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.046%

Price spread now: Injective against Bitget−3.182%61s7-day average +1.035% · you buy dearer than you sell

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

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 3 days (all we have)+5.264%+$526 · spread now −3.182%, 7d avg +1.035%

Together, before fees+5.332%+$533 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.217% cheaper against Bitget than usual: you would sell low and buy high (−$422 if the spread goes back to its 7-day average of +1.035%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.068%, so the current rate has only just turned against you. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NEARUSDT	4.2771	0.0100	pay 0.0100% / 8h	7h 30m	$70.9M	$124.5M	75x
Short	Injective NEAR/USDC PERP	4.1410	0.0033	get 0.0004% / 1h	30m 23s	$578	$302K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now −3.182%Rate

Funding earned: −$14
Price spread: −3.182% → +1.035%: −$421.67
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$447.69
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 4 min ago; Injective: no order-book sample. 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 Bitget live order book, 4 min ago	0.24 bp	9.6 bp −$10	11.1 bp −$111	33.9 bp −$3,386	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.2733	−0.089%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0132%	1h	4.2767	−0.009%	$7.2M	$37.4M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2418	−0.825%	$2.2M	$12.8M	50x	as long as short
Bybit NEARUSDT	−0.0067%	8h	4.2760	−0.026%	$215.8M	$416.0M	75x	as long as short
01 Exchange NEARUSD	−0.0024%	1h	4.2709	−0.145%	$13K	$7K	10x	as long as short
Variational Omni NEAR	−0.0005%	8h	4.2608	−0.380%	$8.0M	$18.7M	—	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2632	−0.324%	$110K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2591	−0.421%	$425K	$18.5M	2.2x	as long as short
Gate NEAR_USDT	+0.0001%	8h	4.2760	−0.026%	$30.7M	$59.4M	75x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2761	−0.022%	$203K	—	150x	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 PERPshort	+0.0033%	1h	4.1410	−3.182%	$578	$302K	12x
Popdex NEARUSDT	+0.0096%	1h	4.2700	−0.166%	$112K	$479K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2782	+0.026%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2641	−0.303%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2748	−0.053%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2651	−0.280%	$399K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2757	−0.032%	$253.1M	$1.06B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2750	−0.049%	$60.0M	$278.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2700	−0.166%	$196K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2709	−0.144%	$243K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2740	−0.072%	$77.4M	$140.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2770	−0.002%	$56.1M	$42.9M	75x	as long as short
Bitget NEARUSDTlong	+0.0100%	8h	4.2771	long leg	$70.9M	$124.5M	75x
BingX NEAR-USDC	+0.0100%	8h	4.2750	−0.049%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2143	−1.469%	$261K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2147	−1.459%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2320	−1.054%	$177K	$788K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2741	−0.070%	$204K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2800	+0.068%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2766	−0.012%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2720	−0.119%	$458K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2650	−0.283%	$3.8M	$8.6M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2752	−0.044%	$3.8M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2760	−0.026%	$199K	$28K	3x	as long as short
Hyperliquid NEAR	+0.0154%	1h	4.2752	−0.044%	$358.1M	$304.2M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2620	−0.353%	$12.9M	$28.1M	75x	as long as short
Lighter RH NEAR	+0.0352%	1h	4.2688	−0.194%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0306%	1h	4.2760	−0.025%	$272K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0393%	1h	4.2651	−0.281%	$1.4M	$5.7M	20x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2721	−0.116%	$405K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0475%	1h	4.2727	−0.103%	$1.9M	$3.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2201	−1.333%	$1.7M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0615%	1h	4.2813	+0.098%	$1.9M	$3.3M	25x	as long as short
Aftermath Perps NEARUSD	+0.1319%	1h	4.2572	−0.466%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1904%	1h	4.2766	−0.011%	$17.1M	$24.2M	15x	as long as short