Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.026%

Price spread now: dYdX against KuCoin−0.135%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1541.540% of the position

Long on KuCoin Short on dYdX

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)−0.092%−$9 · spread now −0.135%, 7d avg −0.050%

Together, before fees−0.261%−$26 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 dYdX is 0.085% cheaper against KuCoin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NEARUSDTM	4.3440	0.0100	pay 0.0100% / 8h	6h 37m	$55.8M	$42.8M	75x
Short	dYdX NEAR-USD	4.3382	0	get 0.0000% / 1h	37m 20s	$108K	$69K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against KuCoin. 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 KuCoinbpFee dYdXbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$21
Price spread: −0.135% → −0.050%: −$8.46
Slippage, 4 orders: −$132.04
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$183.5
Costs to cover: 1.540%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; dYdX: live order book, 32 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 KuCoin live order book, 7 min ago	1.16 bp	19.4 bp −$19	41.0 bp −$410	104.6 bp −$10.5K	doesn't fit
Sell dYdX live order book, 32 min ago	53.24 bp	58.2 bp −$58	58.2 bp −$582	82.6 bp −$8,262	132.5 bp −$66.2K

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	4.3381	−0.136%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3313	−0.292%	$2.1M	$13.5M	50x	as long as short
dYdX NEAR-USDshort	0.0000%	1h	4.3382	−0.135%	$108K	$69K	10x
Kalshi KXNEARPERP	0.0000%	8h	4.3251	−0.435%	$517K	$19.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3399	−0.093%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.673%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0043%	8h	4.3108	−0.764%	$8.2M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3430	−0.023%	$116K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3393	−0.108%	$58K	$161K	20x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3385	−0.126%	$410K	$1.2M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.3420	−0.046%	$259.4M	$1.06B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3385	−0.127%	$220.7M	$419.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3380	−0.138%	$61.2M	$281.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3470	+0.069%	$206K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3300	−0.322%	$247K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3403	−0.085%	$31.2M	$60.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3400	−0.092%	$75.7M	$137.9M	200x	as long as short
KuCoin NEARUSDTMlong	+0.0100%	8h	4.3440	long leg	$55.8M	$42.8M	75x
Bitget NEARUSDT	+0.0100%	8h	4.3382	−0.134%	$71.9M	$123.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3390	−0.115%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3236	−0.469%	$260K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3339	−0.231%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3230	−0.483%	$179K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3434	−0.014%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3480	+0.092%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3232	−0.479%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3440	0.000%	$442K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3270	−0.391%	$3.8M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3371	−0.159%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3419	−0.048%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3384	−0.129%	$202K	$34K	3x	as long as short
Aster NEARUSDT	+0.0112%	8h	4.3482	+0.096%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0219%	1h	4.3242	−0.457%	$7.9M	$39.9M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−0.506%	$13.2M	$27.6M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0305%	1h	4.3257	−0.421%	$1.9M	$4.1M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0360% / S −0.0278%	1h	4.3392	−0.111%	$260K	—	100x	as long as short
01 Exchange NEARUSD	+0.0368%	1h	4.3475	+0.081%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0442%	1h	4.3430	−0.023%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3479	+0.090%	$544K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3434	−0.014%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0656%	1h	4.3457	+0.039%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0742%	1h	4.3467	+0.063%	$364.9M	$303.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0790%	1h	4.3325	−0.265%	$1.4M	$6.0M	20x	as long as short
Lighter NEAR	+0.1432%	1h	4.3457	+0.040%	$17.3M	$24.7M	15x	as long as short
Aftermath Perps NEARUSD	+0.1439%	1h	4.3261	−0.411%	$5K	$12K	10x	as long as short