Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h +0.081%

Price spread now: Orderly against Reya−0.169%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.169% cheaper against Reya than usual: you would sell low and buy high (spread −0.169% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 2.1 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya NEARRUSDPERP	4.3281	−0.0171	get 0.0021% / 1h	46m 03s	$2K	—	20x
Short	Orderly PERP_NEAR_USDC	4.3208	0.0100	get 0.0100% / 8h	46m 03s	$58K	$235K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Reya. 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 ReyabpFee OrderlybpOrdersPrice spread, now −0.169%Rate

Funding earned: $56.88
Price spread: −0.169% → 0.000%: −$16.87
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $28
Costs to cover: 0.120%
Break-even: 3.6 days

Slippage unknown: Reya: no order-book sample; Orderly: 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 Reya no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Reya and Orderly: 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 NEARRUSDPERPlong	−0.0171%	1h	4.3281	long leg	$2K	—	20x
dYdX NEAR-USD	0.0000%	1h	4.3286	+0.012%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3178	−0.237%	$162K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3196	−0.196%	$7.1M	$38.3M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.323%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3300	+0.044%	$106K	$492K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3173	−0.250%	$217.7M	$430.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3160	−0.280%	$60.7M	$290.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3597	+0.729%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3165	−0.268%	$35.3M	$61.9M	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	4.3210	−0.164%	$52.3M	$45.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3171	−0.254%	$71.5M	$128.0M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3467	+0.429%	$8.6M	$18.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3475	+0.449%	$252K	$899K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3486	+0.474%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3680	+0.922%	$165K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3301	+0.046%	$283K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.3208	−0.169%	$58K	$235K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3360	+0.182%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3220	−0.141%	$5K	$53K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3200	−0.187%	$3.5M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3294	+0.030%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3163	−0.272%	$3.6M	$17.5M	25x	as long as short
HTX NEAR-USDT	+0.0106%	8h	4.3360	+0.182%	$461K	$3.8M	75x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.3185	−0.222%	$201K	$38K	3x	as long as short
Kalshi KXNEARPERP	+0.0201%	8h	4.3283	+0.005%	$955K	$25.1M	2.2x	as long as short
BingX NEAR-USDT	+0.0206%	8h	4.3190	−0.210%	—	$145.0M	—	as long as short
Binance NEARUSDT	+0.0211%	8h	4.3206	−0.173%	$262.0M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0213%	8h	4.3190	−0.210%	$79.6M	$149.3M	200x	as long as short
Aster NEARUSDT	+0.0224%	8h	4.3222	−0.137%	$2.7M	$4.8M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0202%	1h	4.3262	−0.044%	$232K	—	100x	as long as short
BloFin NEAR-USDT	+0.0334%	8h	4.3330	+0.113%	$13.2M	$32.0M	75x	as long as short
01 Exchange NEARUSD	+0.0352%	1h	4.3324	+0.099%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0404%	1h	4.3200	−0.187%	$349.2M	$316.5M	10x	as long as short
Nado NEAR-PERP	+0.0431%	1h	4.3258	−0.052%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0467%	1h	4.3207	−0.171%	$1.2M	$7.0M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3289	+0.018%	$2.3M	$16.8M	50x	as long as short
Lighter RH NEAR	+0.0600%	1h	4.3243	−0.088%	$1.5M	$6.6M	10x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3330	+0.113%	$226K	$1.6M	10x	as long as short
Lighter NEAR	+0.0760%	1h	4.3271	−0.023%	$17.1M	$25.0M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0815%	1h	4.3227	−0.125%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3324	+0.099%	$408K	$1.5M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3746	+1.074%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3319	+0.088%	$632K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1303%	1h	4.3410	+0.297%	$5K	$7K	10x	as long as short