Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0120%/8hnext payment −$0.15 per $10,000 · paid last 24h −0.072%

Price spread now: dYdX against Injective+1.683%7-day average −1.196% · you sell dearer than you buy

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

Long on Injective Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

Price spread, last 3 days (all we have)−3.629%−$363 · spread now +1.683%, 7d avg −1.196%

Together, before fees−3.837%−$384 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 2.879% dearer against Injective than usual: you sell high and buy low (spread +1.683% now, against its 7-day average of −1.196%): +$288 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NEAR/USDC PERP	4.1000	0.0120	pay 0.0015% / 1h	4m 04s	$572	$150K	12x
Short	dYdX NEAR-USD	4.1690	0	get 0.0000% / 1h	4m 04s	$105K	$54K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Injective. 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 InjectivebpFee dYdXbpOrdersPrice spread, now +1.683%Rate

Funding earned: −$25.17
Price spread: +1.683% → −1.196%: $287.9
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee dYdX: 5 bp × 2 orders: −$10
Net: $252.71
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; dYdX: live order book, 29 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell dYdX live order book, 29 min ago	130.09 bp	144.8 bp −$145	144.8 bp −$1,448	144.8 bp −$14.5K	146.6 bp −$73.3K

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	4.1689	+1.680%	$2K	—	20x	as long as short
Extended NEAR-USD	−0.0096%	1h	4.1703	+1.714%	$3.6M	$14.3M	25x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.1690	+1.683%	$105K	$54K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.1678	+1.654%	$405K	$20.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1709	+1.730%	$203K	—	150x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0032%	1h	4.1684	+1.668%	$2.1M	$12.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1650	+1.585%	$107K	$490K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1708	+1.726%	$2.8M	$5.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1690	+1.683%	$240.8M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1683	+1.666%	$210.5M	$427.7M	75x	as long as short

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	4.1700	+1.707%	$57.8M	$287.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1710	+1.732%	$309K	$1.6M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1299	+0.728%	$236K	$4K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1715	+1.744%	$29.6M	$57.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1730	+1.780%	$85.9M	$147.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1740	+1.805%	$57.1M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1670	+1.634%	$70.1M	$128.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1700	+1.707%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1555	+1.353%	$7.6M	$18.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1485	+1.183%	$258K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1552	+1.346%	$1.4M	$1.2M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1550	+1.341%	$114K	$756K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1715	+1.744%	$225K	$3.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.1696	+1.698%	$52K	$163K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1760	+1.854%	$1K	$1.5M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1695	+1.695%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1710	+1.732%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1696	+1.696%	$30K	$2K	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1701	+1.710%	$202K	$66K	3x	as long as short
Injective NEAR/USDC PERPlong	+0.0120%	1h	4.1000	long leg	$572	$150K	12x
Deribit NEAR_USDC-PERPETUAL	+0.0134%	1h	4.1734	+1.790%	$1.9M	$2.0M	25x	as long as short
01 Exchange NEARUSD	+0.0192%	1h	4.1709	+1.729%	$12K	$8K	10x	as long as short
Lighter RH NEAR	+0.0208%	1h	4.1774	+1.888%	$1.5M	$7.4M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1660	+1.610%	$12.7M	$33.2M	75x	as long as short
Kraken Futures PF_NEARUSD	+0.0240%	1h	4.1747	+1.822%	$7.5M	$33.9M	50x	as long as short
Pacifica NEAR	+0.0319%	1h	4.1704	+1.716%	$439K	$1.1M	10x	as long as short
Nado NEAR-PERP	+0.0341%	1h	4.1669	+1.631%	$1.8M	$3.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0315%	1h	4.1699	+1.705%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0378%	1h	4.1693	+1.690%	$396K	$1.2M	10x	as long as short
Lighter NEAR	+0.0496%	1h	4.1787	+1.921%	$15.5M	$22.8M	15x	as long as short
Phoenix NEAR	+0.0618%	1h	4.1654	+1.595%	$1.7M	$2.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0838%	1h	4.1763	+1.861%	$1.5M	$4.8M	20x	as long as short
Aftermath Perps NEARUSD	+0.1005%	1h	4.1592	+1.443%	$5K	$11K	10x	as long as short
Hyperliquid NEAR	+0.1009%	1h	4.1819	+1.998%	$357.0M	$305.9M	10x	as long as short
HTX NEAR-USDT	+0.1277%	8h	4.1840	+2.049%	$450K	$4.0M	75x	as long as short