Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: KuCoin against dYdX+0.102%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$283as in the Funding arb table

Net, price: spread back to 7d avg − costs−$294as in the Price arb table

costs, in and out, $10k−$3002.998% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

Price spread, last 4 days (all we have)+0.146%+$15 · spread now +0.102%, 7d avg +0.048%

Together, before fees+0.315%+$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.054% dearer against dYdX than usual: you sell high and buy low: +$5 more if the spread 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	dYdX NEAR-USD	4.2866	0	get 0.0000% / 1h	45m 37s	$111K	$64K	10x
Short	KuCoin NEARUSDTM	4.2910	0.0100	get 0.0100% / 8h	7h 45m	$56.2M	$43.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against dYdX. 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 dYdXbpFee KuCoinbpOrdersPrice spread, now +0.102%Rate

Funding earned: $21
Price spread: +0.102% → +0.048%: $5.41
Slippage, 4 orders: −$277.78
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$273.36
Costs to cover: 2.998%
Break-even: 98.1 days

Slippage from dYdX: live order book, 28 min ago; KuCoin: 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 dYdX live order book, 28 min ago	73.01 bp	193.3 bp −$193	193.4 bp −$1,934	193.4 bp −$19.3K	193.8 bp −$96.9K
Sell KuCoin live order book, 3 min ago	2.32 bp	13.0 bp −$13	28.0 bp −$280	84.7 bp −$8,469	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	4.2927	+0.143%	$2K	—	20x	as long as short
Bybit NEARUSDT	−0.0147%	8h	4.2860	−0.014%	$218.7M	$418.8M	75x	as long as short
Kraken Futures PF_NEARUSD	−0.0131%	1h	4.3043	+0.412%	$7.6M	$37.1M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2960	+0.219%	$2.3M	$13.0M	50x	as long as short
dYdX NEAR-USDlong	0.0000%	1h	4.2866	long leg	$111K	$64K	10x
01 Exchange NEARUSD	0.0000%	1h	4.3001	+0.315%	$13K	$7K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2913	+0.109%	$377K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2992	+0.294%	$204K	—	150x	as long as short
Variational Omni NEAR	+0.0008%	8h	4.2958	+0.215%	$8.0M	$18.7M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.397%	$578	$302K	12x	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	+0.0056%	8h	4.2887	+0.049%	$30.9M	$58.7M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3000	+0.312%	$112K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3056	+0.443%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2869	+0.006%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2892	+0.060%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2893	+0.064%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2871	+0.012%	$254.8M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2860	−0.014%	$60.9M	$278.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2910	+0.102%	$197K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3050	+0.429%	$245K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2890	+0.056%	$79.5M	$138.8M	200x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.2910	+0.102%	$56.2M	$43.1M	75x
Bitget NEARUSDT	+0.0100%	8h	4.2873	+0.016%	$71.1M	$124.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2880	+0.032%	—	$141.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3101	+0.548%	$277K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3108	+0.564%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3120	+0.592%	$180K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2974	+0.252%	$193K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3100	+0.546%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3010	+0.336%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3100	+0.546%	$458K	$3.6M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2970	+0.242%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2863	−0.006%	$3.9M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3043	+0.412%	$200K	$28K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2970	+0.242%	$13.1M	$29.1M	75x	as long as short
Hyperliquid NEAR	+0.0265%	1h	4.2900	+0.079%	$365.3M	$300.5M	10x	as long as short
Lighter RH NEAR	+0.0288%	1h	4.2916	+0.116%	$1.6M	$6.9M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0354%	1h	4.3076	+0.490%	$1.9M	$3.0M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0314%	1h	4.2985	+0.277%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2914	+0.112%	$408K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0448%	1h	4.2943	+0.179%	$1.9M	$3.3M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0468%	1h	4.2967	+0.235%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3171	+0.711%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1279%	1h	4.3056	+0.443%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.2176%	1h	4.2998	+0.307%	$17.2M	$23.9M	15x	as long as short