Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0849%/8h= −93.0% APRpaid last 24h −0.040%

Price spread now: Bybit against Pacifica−0.004%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 7 days+0.005%$0 · spread now −0.004%, 7d avg −0.042%

Together, before fees−0.113%+ Points / potential airdropPacifica: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.038% dearer against Pacifica than usual: you sell high and buy low (spread −0.004% now, against its 7-day average of −0.042%): +$4 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.118% in total) that is about 2.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.118% in total (about -6.1% 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	Pacifica NEAR	4.3548	0.0949	pay 0.0119% / 1h	20m 14s	$410K	$1.4M	10x
Short	Bybit NEARUSDT	4.3546	0.0100	get 0.0100% / 8h	20m 14s	$219.9M	$428.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$178.3
Price spread: −0.004% → −0.042%: $3.75
Slippage, 4 orders: −$22.42
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$215.97
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Pacifica: live order book, 4 min ago; Bybit: live order book, 4 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 Pacifica live order book, 4 min ago	1.84 bp	10.9 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.15 bp	8.1 bp −$8	12.9 bp −$129	29.0 bp −$2,895	132.4 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	4.3508	−0.092%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3523	−0.058%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3549	+0.002%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3530	−0.041%	$7.1M	$38.3M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.909%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3520	−0.064%	$114K	$498K	50x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.3546	−0.004%	$219.9M	$428.9M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3560	+0.028%	$61.1M	$294.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3196	−0.808%	$246K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3518	−0.068%	$35.5M	$62.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3550	+0.005%	$52.7M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3559	+0.026%	$72.1M	$127.8M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3517	−0.070%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3412	−0.312%	$252K	$899K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3235	−0.718%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3430	−0.271%	$166K	$815K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3538	−0.023%	$278K	$4.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3550	+0.005%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3580	+0.074%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3548	0.000%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3550	+0.005%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3493	−0.126%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3528	−0.044%	$3.6M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.3570	+0.051%	$203K	$38K	3x	as long as short
HTX NEAR-USDT	+0.0146%	8h	4.3660	+0.258%	$465K	$3.8M	75x	as long as short
Aster NEARUSDT	+0.0154%	8h	4.3563	+0.034%	$2.7M	$4.9M	50x	as long as short
Hyperliquid NEAR	+0.0163%	1h	4.3538	−0.023%	$350.9M	$315.5M	10x	as long as short
Binance NEARUSDT	+0.0174%	8h	4.3563	+0.035%	$263.8M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0176%	8h	4.3560	+0.028%	$88.3M	$152.6M	200x	as long as short
Kalshi KXNEARPERP	+0.0177%	8h	4.3545	−0.006%	$967K	$25.0M	2.2x	as long as short
BingX NEAR-USDC	+0.0184%	8h	4.3570	+0.051%	—	$6.7M	—	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.3528	−0.045%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0296%	8h	4.3520	−0.064%	$13.4M	$32.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0319% / S −0.0207%	1h	4.3548	+0.001%	$235K	—	100x	as long as short
Nado NEAR-PERP	+0.0391%	1h	4.3525	−0.052%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0448%	1h	4.3599	+0.118%	$1.0M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3573	+0.058%	$2.3M	$16.9M	50x	as long as short
Lighter RH NEAR	+0.0552%	1h	4.3611	+0.145%	$1.5M	$6.7M	10x	as long as short
Lighter NEAR	+0.0560%	1h	4.3611	+0.144%	$17.2M	$25.3M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3520	−0.064%	$229K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0692%	1h	4.3567	+0.044%	$1.9M	$13.1M	25x	as long as short
Pacifica NEARlong	+0.0949%	1h	4.3548	long leg	$410K	$1.4M	10x
Phoenix NEAR	+0.0949%	1h	4.3607	+0.136%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3510	−0.088%	$607K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1148%	1h	4.3385	−0.374%	$5K	$7K	10x	as long as short