Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0370%/8h= +40.6% APRpaid last 24h +0.093%

Price spread now: Nado against Bybit−0.003%7-day average +0.063% · 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−$42as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 7 days+0.035%+$4 · spread now −0.003%, 7d avg +0.063%

Together, before fees+0.128%+ Points / potential airdropNado: Active · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.066% cheaper against Bybit than usual: you would sell low and buy high (spread −0.003% now, against its 7-day average of +0.063%). If the spread goes back, that is −$7 on $10k: about 14 hours of funding at the current rate (+$11 a day). At the pace of the last 3 days (+0.093% in total) that is about 2.4 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.093% in total (about 10.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.4737	0.0100	pay 0.0100% / 8h	5h 03m	$223.8M	$429.3M	75x
Short	Nado NEAR-PERP	4.4736	0.0470	get 0.0059% / 1h	3m 04s	$1.9M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.003%Rate

Funding earned: $77.79
Price spread: −0.003% → +0.063%: −$6.62
Slippage, 4 orders: −$17.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $35.4
Costs to cover: 0.358%
Break-even: 3.8 days

Slippage from Bybit: live order book, 1 min ago; Nado: live order book, 1 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, 1 min ago	1.12 bp	8.4 bp −$8	14.2 bp −$142	34.6 bp −$3,464	doesn't fit
Sell Nado live order book, 1 min ago	4.02 bp	9.3 bp −$9	22.7 bp −$227	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	4.4750	+0.029%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4728	−0.020%	$2.2M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4719	−0.040%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4708	−0.065%	$543K	$21.9M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4760	+0.051%	$168K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.437%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4750	+0.029%	$116K	$516K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4737	0.000%	$427K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4731	−0.014%	$273.6M	$1.12B	75x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.4737	long leg	$223.8M	$429.3M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4720	−0.038%	$63.8M	$306.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4470	−0.597%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4683	−0.121%	$32.4M	$65.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4720	−0.038%	$75.8M	$150.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4730	−0.016%	$55.4M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4700	−0.083%	$73.6M	$131.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4690	−0.105%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4486	−0.560%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4501	−0.527%	$267K	$977K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4479	−0.577%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4460	−0.619%	$171K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4777	+0.089%	$250K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4721	−0.036%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4830	+0.208%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4710	−0.060%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4730	−0.016%	$460K	$4.1M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4670	−0.150%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4691	−0.102%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4731	−0.013%	$208K	$40K	3x	as long as short
Extended NEAR-USD	+0.0208%	1h	4.4674	−0.141%	$4.0M	$19.5M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4680	−0.127%	$14.4M	$33.6M	75x	as long as short
Aster NEARUSDT	+0.0286%	8h	4.4726	−0.024%	$3.1M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0354% / S −0.0235%	1h	4.4756	+0.043%	$268K	—	100x	as long as short
01 Exchange NEARUSD	+0.0376%	1h	4.4776	+0.087%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4810	+0.163%	$216K	$1.8M	10x	as long as short
Nado NEAR-PERPshort	+0.0470%	1h	4.4736	−0.003%	$1.9M	$3.2M	10x
Deribit NEAR_USDC-PERPETUAL	+0.0533%	1h	4.4760	+0.051%	$2.0M	$4.5M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0539%	1h	4.4733	−0.009%	$1.4M	$6.7M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0690%	1h	4.4674	−0.140%	$8.3M	$41.3M	50x	as long as short
Lighter RH NEAR	+0.0704%	1h	4.4744	+0.016%	$1.6M	$7.2M	10x	as long as short
Hyperliquid NEAR	+0.0765%	1h	4.4772	+0.078%	$372.5M	$326.7M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4578	−0.355%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4777	+0.090%	$574K	$1.4M	10x	as long as short
Lighter NEAR	+0.1120%	1h	4.4754	+0.038%	$18.0M	$27.1M	15x	as long as short
Aftermath Perps NEARUSD	+0.1611%	1h	4.4908	+0.383%	$6K	$12K	10x	as long as short