Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h +0.046%

Price spread now: Injective against Gate−3.218%7-day average +1.162% · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 3 days (all we have)+6.012%+$601 · spread now −3.218%, 7d avg +1.162%

Together, before fees+6.051%+$605 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Injective is 4.381% cheaper against Gate than usual: you would sell low and buy high (−$438 if the spread goes back to its 7-day average of +1.162%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NEAR_USDT	4.2787	0.0100	pay 0.0100% / 8h	1h 08m	$30.1M	$58.4M	75x
Short	Injective NEAR/USDC PERP	4.1410	−0.0002	pay 0.0000% / 1h	8m 27s	$578	$302K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −3.218%Rate

Funding earned: −$21.5
Price spread: −3.218% → +1.162%: −$438.05
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$474.57
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Injective: 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 Gate live order book, 5 min ago	1.31 bp	14.3 bp −$14	21.5 bp −$215	35.2 bp −$3,520	56.9 bp −$28.4K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Reya NEARRUSDPERP	−0.0171%	1h	4.2774	−0.030%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.2593	−0.453%	$2.2M	$13.0M	50x	as long as short
Injective NEAR/USDC PERPshort	−0.0002%	1h	4.1410	−3.218%	$578	$302K	12x
dYdX NEAR-USD	0.0000%	1h	4.2787	−0.001%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2557	−0.538%	$483K	$18.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2700	−0.204%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0047%	1h	4.2688	−0.232%	$7.7M	$36.3M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2740	−0.110%	$105K	$489K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2796	+0.020%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2830	+0.100%	$3.0M	$5.6M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2811	+0.055%	$398K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2767	−0.047%	$247.0M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2781	−0.014%	$219.8M	$420.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2780	−0.016%	$59.8M	$282.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2760	−0.063%	$200K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2317	−1.099%	$241K	$2K	10x	as long as short
Gate NEAR_USDTlong	+0.0100%	8h	4.2787	long leg	$30.1M	$58.4M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.2760	−0.063%	$83.1M	$144.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2770	−0.040%	$56.2M	$43.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2780	−0.016%	$70.9M	$125.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2780	−0.016%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2299	−1.140%	$7.9M	$17.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2295	−1.151%	$247K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2168	−1.447%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2150	−1.489%	$176K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2800	+0.030%	$230K	$3.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2601	−0.435%	$56K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2710	−0.180%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2639	−0.346%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2640	−0.344%	$3.9M	$8.1M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2757	−0.069%	$4.0M	$14.8M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2605	−0.426%	$205K	$62K	3x	as long as short
01 Exchange NEARUSD	+0.0136%	1h	4.2809	+0.051%	$13K	$7K	10x	as long as short
Lighter RH NEAR	+0.0152%	1h	4.2834	+0.110%	$1.5M	$7.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2660	−0.297%	$12.6M	$32.3M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0290%	1h	4.2628	−0.372%	$1.9M	$2.2M	25x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.2785	−0.005%	$412K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0388% / S −0.0332%	1h	4.2613	−0.407%	$290K	—	100x	as long as short
Nado NEAR-PERP	+0.0467%	1h	4.2794	+0.018%	$1.9M	$3.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0541%	1h	4.2742	−0.105%	$1.3M	$5.5M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.2316	−1.101%	$1.8M	$2.7M	10x	as long as short
Hyperliquid NEAR	+0.0596%	1h	4.2905	+0.276%	$368.6M	$294.9M	10x	as long as short
HTX NEAR-USDT	+0.0931%	8h	4.2770	−0.040%	$460K	$3.6M	75x	as long as short
Aftermath Perps NEARUSD	+0.0980%	1h	4.2366	−0.984%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.0992%	1h	4.2912	+0.292%	$16.5M	$23.8M	15x	as long as short