Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: Bybit against Bulk−0.371%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Bulk Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now −0.371%, 7d avg −0.041%

Together, before fees−0.104%−$10 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: Bybit is 0.329% cheaper against Bulk than usual: you would sell low and buy high, −$33 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk NEAR-USD	4.2997	0.0100	pay 0.0013% / 1h	29m 17s	$245K	−$0	10x
Short	Bybit NEARUSDT	4.2838	0.0100	get 0.0100% / 8h	2h 29m	$213.6M	$420.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bulk. 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 BulkbpFee BybitbpOrdersPrice spread, now −0.371%Rate

Funding earned: $0
Price spread: −0.371% → −0.041%: −$32.94
Slippage, 4 orders: −$27.84
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$78.79
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from Bulk: live order book, 20 min ago; Bybit: 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 Bulk live order book, 20 min ago	11.67 bp	15.2 bp −$15	15.2 bp −$152	26.9 bp −$2,694	41.3 bp −$20.6K
Sell Bybit live order book, 5 min ago	1.16 bp	6.7 bp −$7	12.0 bp −$120	26.6 bp −$2,665	119.6 bp −$59.8K

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	4.3004	+0.014%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2937	−0.140%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2936	−0.144%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.692%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3020	+0.052%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2920	−0.180%	$262.4M	$1.08B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.2838	−0.371%	$213.6M	$420.3M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2850	−0.343%	$60.4M	$284.5M	50x	as long as short
Bulk NEAR-USDlong	+0.0100%	1h	4.2997	long leg	$245K	−$0	10x
Gate NEAR_USDT	+0.0100%	8h	4.2947	−0.117%	$32.4M	$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	4.2890	−0.250%	$75.9M	$143.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2970	−0.064%	$51.9M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2852	−0.338%	$70.9M	$127.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2860	−0.320%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2878	−0.277%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2962	−0.082%	$259K	$958K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2943	−0.127%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3027	+0.069%	$263K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2972	−0.059%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3110	+0.262%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3070	+0.169%	$466K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2920	−0.180%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2957	−0.094%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2980	−0.041%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2920	−0.180%	$13.2M	$31.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3035	+0.087%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0262%	8h	4.3002	+0.011%	$869K	$24.6M	2.2x	as long as short
ApeX Omni NEARUSDT	+0.0263%	1h	4.2960	−0.087%	$165K	$795K	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2931	−0.155%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.2910	−0.203%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0376%	1h	4.3000	+0.007%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2916	−0.190%	$3.7M	$19.7M	25x	as long as short
SoDEX NEAR-USD	+0.0572%	1h	4.2925	−0.169%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0660%	1h	4.2884	−0.264%	$1.3M	$6.7M	20x	as long as short
Hyperliquid NEAR	+0.0690%	1h	4.3026	+0.066%	$351.7M	$310.3M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0737%	1h	4.2919	−0.183%	$7.4M	$38.9M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.3093	+0.222%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3050	+0.122%	$216K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2975	−0.053%	$394K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.2933	−0.150%	$16.8M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3089	+0.213%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1128%	1h	4.2928	−0.162%	$1.4M	$7.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1171%	1h	4.2974	−0.055%	$1.9M	$11.0M	25x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3046	+0.114%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1362%	1h	4.2977	−0.048%	$5K	$12K	10x	as long as short