Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.022%

Price spread now: Bybit against gTrade (Gains Network)+0.402%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$246as in the Price arb table

costs, in and out, $10k−$2892.894% of the position

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−1.331%−$133 · spread now +0.402%, 7d avg −0.035%

Together, before fees−1.234%−$123 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 Bybit is 0.437% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$44 more if the spread goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) NEAR/USD	4.4620	L +0.0004% / S −0.0006%	pay 0.0001% / 1h	17m 01s	$167K	—	150x
Short	Bybit NEARUSDT	4.4799	0.0100	get 0.0100% / 8h	7h 17m	$227.3M	$426.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now +0.402%Rate

Funding earned: $20.09
Price spread: +0.402% → −0.035%: $43.69
Slippage, 4 orders: −$268.39
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$225.61
Costs to cover: 2.894%
Break-even: 85.6 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 17 min ago; Bybit: live order book, 2 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 gTrade (Gains Network) virtual book (oracle venue), 17 min ago	130.01 bp	135.0 bp −$135	875.9 bp −$8,759	9405.5 bp −$940.5K	doesn't fit
Sell Bybit live order book, 2 min ago	1.12 bp	8.4 bp −$8	13.3 bp −$133	38.0 bp −$3,798	165.0 bp −$82.5K

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	4.4584	−0.079%	$7.3M	$38.5M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4603	−0.036%	$2K	—	20x	as long as short
Phemex NEARUSDT	−0.0028%	8h	4.4600	−0.044%	$3.6M	$7.7M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4556	−0.142%	$109K	$65K	10x	as long as short
gTrade (Gains Network) NEAR/USDlong	L +0.0004% / S −0.0006%	1h	4.4620	long leg	$167K	—	150x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.193%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4600	−0.044%	$113K	$504K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4684	+0.144%	$2.8M	$4.6M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4712	+0.207%	$269.5M	$1.08B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.4799	+0.402%	$227.3M	$426.7M	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	4.4780	+0.359%	$62.9M	$301.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.4640	+0.045%	$226K	$1.4M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4634	+0.032%	$37.8M	$62.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4620	+0.001%	$88.8M	$161.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4660	+0.090%	$53.3M	$45.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4778	+0.355%	$73.9M	$127.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4640	+0.045%	—	$82.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4199	−0.944%	$9.2M	$18.1M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4635	+0.034%	$259K	$895K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4607	−0.028%	$1.5M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4220	−0.896%	$166K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4590	−0.067%	$278K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4617	−0.006%	$57K	$238K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4670	+0.113%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4595	−0.055%	$5K	$49K	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4787	+0.375%	$258K	$3K	10x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4553	−0.151%	$32K	$413	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4594	−0.058%	$3.7M	$15.2M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4588	−0.072%	$207K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0136%	8h	4.4577	−0.096%	$887K	$25.3M	2.2x	as long as short
Nado NEAR-PERP	+0.0210%	1h	4.4565	−0.123%	$1.7M	$3.2M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4650	+0.068%	$12.7M	$32.9M	75x	as long as short
Hyperliquid NEAR	+0.0328%	1h	4.4697	+0.173%	$363.8M	$317.3M	10x	as long as short
01 Exchange NEARUSD	+0.0336%	1h	4.4614	−0.013%	$13K	$6K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0358% / S −0.0260%	1h	4.4610	−0.021%	$262K	—	100x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.4660	+0.090%	$2.3M	$17.5M	50x	as long as short
Lighter NEAR	+0.0488%	1h	4.4646	+0.058%	$17.6M	$24.0M	15x	as long as short
Lighter RH NEAR	+0.0488%	1h	4.4659	+0.088%	$1.5M	$6.5M	10x	as long as short
HTX NEAR-USDT	+0.0501%	8h	4.4740	+0.270%	$472K	$3.7M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0574%	1h	4.4687	+0.151%	$1.1M	$7.1M	20x	as long as short
RISEx NEAR/USDC	+0.0656%	1h	4.4606	−0.030%	$604K	$1.5M	10x	as long as short
Pacifica NEAR	+0.0701%	1h	4.4594	−0.058%	$420K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0740%	1h	4.4814	+0.435%	$1.8M	$2.4M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0850%	1h	4.4606	−0.031%	$1.9M	$13.1M	25x	as long as short
Aftermath Perps NEARUSD	+0.1079%	1h	4.4408	−0.475%	$6K	$7K	10x	as long as short