Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: dYdX against Bybit−0.162%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$920.925% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)+0.144%+$14 · spread now −0.162%, 7d avg +0.017%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.179% cheaper against Bybit than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.3730	0.0100	pay 0.0100% / 8h	7h 37m	$220.4M	$428.1M	75x
Short	dYdX NEAR-USD	4.3659	0	get 0.0000% / 1h	37m 25s	$107K	$67K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$21
Price spread: −0.162% → +0.017%: −$17.87
Slippage, 4 orders: −$71.47
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$131.34
Costs to cover: 0.925%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; dYdX: live order book, 61 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 Bybit live order book, 2 min ago	1.14 bp	9.4 bp −$9	15.5 bp −$155	33.7 bp −$3,368	106.1 bp −$53.0K
Sell dYdX live order book, 61 min ago	28.93 bp	33.9 bp −$34	59.4 bp −$594	196.9 bp −$19.7K	687.1 bp −$343.6K

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
Kraken Futures PF_NEARUSD	−0.0432%	1h	4.3694	−0.082%	$7.2M	$38.7M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.3715	−0.034%	$2K	—	20x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.3659	−0.162%	$107K	$67K	10x
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3703	−0.062%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.305%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3740	+0.023%	$119K	$504K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3720	−0.023%	$2.7M	$4.8M	50x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.3730	long leg	$220.4M	$428.1M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3720	−0.023%	$61.6M	$295.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3810	+0.183%	$221K	$1.5M	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	4.3667	−0.144%	$36.4M	$62.1M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3750	+0.046%	$52.6M	$45.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3726	−0.009%	$72.1M	$127.8M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3698	−0.074%	$9.0M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3747	+0.039%	$254K	$893K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3650	−0.183%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3740	+0.023%	$165K	$826K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3735	+0.011%	$273K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3726	−0.009%	$56K	$239K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3830	+0.229%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3725	−0.011%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3700	−0.069%	$3.5M	$8.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3708	−0.050%	$252K	$3K	10x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3647	−0.190%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3758	+0.065%	$3.6M	$15.7M	25x	as long as short
MEXC NEAR_USDT	+0.0107%	8h	4.3730	0.000%	$90.7M	$157.1M	200x	as long as short
Binance NEARUSDT	+0.0108%	8h	4.3722	−0.017%	$263.9M	$1.09B	75x	as long as short
Aevo NEAR-PERP	+0.0112%	1h	4.3740	+0.023%	$203K	$40K	3x	as long as short
BingX NEAR-USDC	+0.0122%	8h	4.3710	−0.046%	—	$6.7M	—	as long as short
Kalshi KXNEARPERP	+0.0147%	8h	4.3652	−0.178%	$871K	$25.4M	2.2x	as long as short
Hyperliquid NEAR	+0.0215%	1h	4.3776	+0.104%	$353.7M	$316.2M	10x	as long as short
BloFin NEAR-USDT	+0.0232%	8h	4.3660	−0.160%	$12.5M	$32.3M	75x	as long as short
Nado NEAR-PERP	+0.0278%	1h	4.3731	+0.001%	$1.7M	$3.2M	10x	as long as short
01 Exchange NEARUSD	+0.0320%	1h	4.3827	+0.222%	$13K	$7K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0351% / S −0.0255%	1h	4.3748	+0.042%	$257K	—	100x	as long as short
HTX NEAR-USDT	+0.0369%	8h	4.3850	+0.274%	$464K	$3.7M	75x	as long as short
Lighter RH NEAR	+0.0456%	1h	4.3731	+0.002%	$1.5M	$6.4M	10x	as long as short
Lighter NEAR	+0.0480%	1h	4.3733	+0.007%	$17.3M	$23.9M	15x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3733	+0.007%	$2.3M	$17.2M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0526%	1h	4.3719	−0.025%	$1.1M	$7.2M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.3796	+0.151%	$595K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.3686	−0.101%	$412K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.3762	+0.073%	$1.8M	$2.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0916%	1h	4.3776	+0.105%	$1.9M	$13.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1053%	1h	4.3798	+0.157%	$5K	$7K	10x	as long as short