Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1087%/8h= +119.0% APRpaid last 24h +0.026%

Price spread now: Pacifica against Bybit+0.108%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 7 days−0.105%−$11 · spread now +0.108%, 7d avg +0.042%

Together, before fees−0.001%+ Points / potential airdropPacifica: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Pacifica is 0.066% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.042%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.104% in total (about 5.4% 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	4.3121	0.0100	pay 0.0100% / 8h	1h 01m	$217.9M	$431.3M	75x
Short	Pacifica NEAR	4.3168	0.1187	get 0.0148% / 1h	1m 28s	$398K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.108%Rate

Funding earned: $228.28
Price spread: +0.108% → +0.042%: $6.62
Slippage, 4 orders: −$31.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $184.49
Costs to cover: 0.504%
Break-even: 1.3 days

Slippage from Bybit: live order book, 3 min ago; Pacifica: live order book, 3 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, 3 min ago	1.16 bp	8.6 bp −$9	12.0 bp −$120	30.5 bp −$3,048	114.7 bp −$57.4K
Sell Pacifica live order book, 3 min ago	3.35 bp	23.4 bp −$23	doesn't fit	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	4.3108	−0.030%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3153	+0.074%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3167	+0.106%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.968%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3130	+0.021%	$105K	$492K	50x	as long as short
Bybit NEARUSDTlong	+0.0100%	8h	4.3121	long leg	$217.9M	$431.3M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3110	−0.026%	$60.6M	$290.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3565	+1.030%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3110	−0.026%	$35.1M	$62.5M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3140	+0.044%	$52.2M	$45.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.3109	−0.028%	$71.4M	$128.5M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	+0.641%	$8.7M	$18.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3231	+0.256%	$251K	$906K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3225	+0.242%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3400	+0.647%	$163K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3138	+0.039%	$288K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3142	+0.049%	$57K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3280	+0.369%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3180	+0.137%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3290	+0.392%	$457K	$3.8M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3210	+0.206%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.3137	+0.038%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3115	−0.014%	$3.6M	$17.8M	25x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.3157	+0.083%	$201K	$38K	3x	as long as short
BingX NEAR-USDC	+0.0201%	8h	4.3110	−0.026%	—	$6.7M	—	as long as short
Binance NEARUSDT	+0.0212%	8h	4.3145	+0.055%	$262.5M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0213%	8h	4.3170	+0.114%	$75.0M	$151.1M	200x	as long as short
Kalshi KXNEARPERP	+0.0217%	8h	4.3193	+0.167%	$945K	$25.1M	2.2x	as long as short
Aster NEARUSDT	+0.0253%	8h	4.3129	+0.018%	$2.7M	$4.8M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0313% / S −0.0200%	1h	4.3163	+0.097%	$231K	—	100x	as long as short
BloFin NEAR-USDT	+0.0333%	8h	4.3200	+0.183%	$13.5M	$32.0M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0395%	1h	4.3209	+0.204%	$1.3M	$6.9M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.3234	+0.262%	$2.3M	$16.5M	50x	as long as short
Hyperliquid NEAR	+0.0426%	1h	4.3145	+0.056%	$350.8M	$314.7M	10x	as long as short
01 Exchange NEARUSD	+0.0440%	1h	4.3132	+0.026%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0542%	1h	4.3147	+0.060%	$1.6M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0676%	1h	4.3154	+0.077%	$7.1M	$38.3M	50x	as long as short
Lighter NEAR	+0.0728%	1h	4.3205	+0.196%	$17.0M	$25.5M	15x	as long as short
Lighter RH NEAR	+0.0824%	1h	4.3208	+0.202%	$1.5M	$6.8M	10x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.3190	+0.160%	$227K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0908%	1h	4.3214	+0.216%	$1.9M	$13.0M	25x	as long as short
Phoenix NEAR	+0.1003%	1h	4.3312	+0.443%	$1.8M	$2.5M	10x	as long as short
Pacifica NEARshort	+0.1187%	1h	4.3168	+0.108%	$398K	$1.4M	10x
RISEx NEAR/USDC	+0.1259%	1h	4.3146	+0.058%	$656K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1298%	1h	4.3364	+0.562%	$5K	$12K	10x	as long as short