Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Orderly against Bybit−0.228%7-day average +0.048% · you buy dearer than you sell

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

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+1.231%+$123 · spread now −0.228%, 7d avg +0.048%

Together, before fees+1.228%+$123 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: Orderly is 0.276% cheaper against Bybit than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NEARUSDT	4.4703	0.0100	pay 0.0100% / 8h	7h 18m	$225.6M	$426.1M	75x
Short	Orderly PERP_NEAR_USDC	4.4601	0.0100	get 0.0100% / 8h	7h 18m	$57K	$238K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.228%Rate

Funding earned: $0
Price spread: −0.228% → +0.048%: −$27.61
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$44.61
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Orderly: 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 Bybit live order book, 5 min ago	1.13 bp	8.6 bp −$9	16.3 bp −$163	40.0 bp −$4,001	145.0 bp −$72.5K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Kraken Futures PF_NEARUSD	−0.0424%	1h	4.4575	−0.287%	$7.3M	$38.6M	50x	as long as short
Phemex NEARUSDT	−0.0258%	8h	4.4580	−0.275%	$3.6M	$7.7M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4649	−0.121%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4632	−0.159%	$109K	$65K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4572	−0.294%	$167K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.366%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4690	−0.029%	$118K	$499K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4682	−0.048%	$2.8M	$4.6M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4692	−0.024%	$269.4M	$1.08B	75x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.4703	long leg	$225.6M	$426.1M	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	4.4690	−0.029%	$62.9M	$301.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.4690	−0.029%	$226K	$1.4M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3750	−2.132%	$252K	$3K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4659	−0.098%	$37.7M	$62.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4670	−0.074%	$90.0M	$160.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4670	−0.074%	$53.3M	$45.3M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4682	−0.047%	$73.7M	$127.3M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4690	−0.029%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4199	−1.128%	$9.2M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4233	−1.051%	$256K	$894K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4279	−0.948%	$1.5M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4220	−1.080%	$166K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4656	−0.105%	$279K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.4601	−0.228%	$57K	$238K	20x
SunX NEAR-USDT	+0.0100%	8h	4.4660	−0.096%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4575	−0.286%	$5K	$49K	10x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.4660	−0.096%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4642	−0.136%	$3.7M	$15.2M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4596	−0.240%	$207K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0136%	8h	4.4653	−0.112%	$898K	$25.3M	2.2x	as long as short
Nado NEAR-PERP	+0.0202%	1h	4.4666	−0.083%	$1.7M	$3.2M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4600	−0.230%	$12.7M	$32.9M	75x	as long as short
Hyperliquid NEAR	+0.0312%	1h	4.4754	+0.114%	$364.2M	$316.7M	10x	as long as short
01 Exchange NEARUSD	+0.0328%	1h	4.4744	+0.092%	$13K	$6K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0357% / S −0.0259%	1h	4.4572	−0.293%	$261K	—	100x	as long as short
Lighter RH NEAR	+0.0448%	1h	4.4645	−0.130%	$1.6M	$6.5M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.4688	−0.034%	$2.3M	$17.5M	50x	as long as short
Lighter NEAR	+0.0488%	1h	4.4630	−0.162%	$17.6M	$24.0M	15x	as long as short
HTX NEAR-USDT	+0.0500%	8h	4.4750	+0.105%	$473K	$3.7M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0562%	1h	4.4623	−0.179%	$1.1M	$7.1M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.4676	−0.061%	$604K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.4663	−0.089%	$421K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.4334	−0.825%	$1.8M	$2.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1028%	1h	4.4240	−1.035%	$6K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1657%	1h	4.4655	−0.107%	$1.9M	$13.1M	25x	as long as short