Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h −0.080%

Price spread now: SunX against Nado+0.230%7-day average +0.156% · 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−$147as in the Price arb table

costs, in and out, $10k−$1551.548% of the position

Long on Nado Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.079%−$8 on $10k

Price spread, last 3 days (all we have)+0.119%+$12 · spread now +0.230%, 7d avg +0.156%

Together, before fees+0.040%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.074% dearer against Nado than usual: you sell high and buy low (spread +0.230% now, against its 7-day average of +0.156%): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 3 days (−0.079% in total) that is about 3.1 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.079% in total (about -8.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NEAR-PERP	4.3510	0.0432	pay 0.0054% / 1h	35m 42s	$1.9M	$3.1M	10x
Short	SunX NEAR-USDT	4.3610	0.0100	get 0.0100% / 8h	6h 35m	$2K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Nado. 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 NadobpFee SunXbpOrdersPrice spread, now +0.230%Rate

Funding earned: −$69.81
Price spread: +0.230% → +0.156%: $7.41
Slippage, 4 orders: −$139.82
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$217.22
Costs to cover: 1.548%
Break-even: never at this rate

Slippage from Nado: live order book, 3 min ago; SunX: live order book, 9 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 Nado live order book, 3 min ago	1.61 bp	6.1 bp −$6	17.5 bp −$175	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	31.24 bp	86.4 bp −$86	doesn't fit	doesn't fit	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	4.3548	+0.088%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3611	+0.232%	$2.2M	$13.8M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3553	+0.100%	$109K	$69K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3580	+0.161%	$522K	$19.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3549	+0.090%	$202K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.826%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0052%	8h	4.3548	+0.088%	$8.3M	$19.1M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3540	+0.069%	$116K	$478K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.3583	+0.168%	$58K	$161K	20x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3585	+0.172%	$412K	$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	4.3600	+0.207%	$260.5M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3570	+0.138%	$221.4M	$419.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3570	+0.138%	$61.5M	$282.3M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3560	+0.115%	$206K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3449	−0.139%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3571	+0.140%	$31.3M	$60.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3590	+0.184%	$75.5M	$138.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3580	+0.161%	$56.0M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3544	+0.078%	$72.1M	$123.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3580	+0.161%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3236	−0.629%	$260K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3339	−0.392%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3230	−0.644%	$179K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3575	+0.149%	$214K	$3.5M	10x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.3610	+0.230%	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.3571	+0.140%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3700	+0.437%	$445K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3580	+0.161%	$3.9M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3465	−0.103%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3551	+0.093%	$3.8M	$17.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3571	+0.140%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0122%	8h	4.3600	+0.207%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0217%	1h	4.3584	+0.171%	$7.7M	$40.3M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3220	−0.667%	$13.2M	$27.6M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0360% / S −0.0278%	1h	4.3545	+0.081%	$261K	—	100x	as long as short
01 Exchange NEARUSD	+0.0368%	1h	4.3566	+0.129%	$13K	$7K	10x	as long as short
Nado NEAR-PERPlong	+0.0432%	1h	4.3510	long leg	$1.9M	$3.1M	10x
RISEx NEAR/USDC	+0.0509%	1h	4.3579	+0.158%	$545K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3434	−0.175%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0680%	1h	4.3630	+0.276%	$1.6M	$6.9M	10x	as long as short
Hyperliquid NEAR	+0.0759%	1h	4.3629	+0.274%	$366.2M	$303.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0783%	1h	4.3607	+0.223%	$1.9M	$4.1M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0805%	1h	4.3635	+0.287%	$1.4M	$5.9M	20x	as long as short
Aftermath Perps NEARUSD	+0.1440%	1h	4.3317	−0.445%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1480%	1h	4.3664	+0.354%	$17.4M	$24.8M	15x	as long as short