Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0460%/8h= −50.4% APRpaid last 24h −0.013%

Price spread now: Bybit against SoDEX+0.105%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 0.105% dearer against SoDEX than usual: you sell high and buy low (spread +0.105% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX NEAR-USD	4.2785	0.0560	pay 0.0070% / 1h	26m 39s	$6K	$53K	10x
Short	Bybit NEARUSDT	4.2830	0.0100	get 0.0100% / 8h	2h 26m	$213.5M	$420.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$96.65
Price spread: +0.105% → 0.000%: $10.52
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$105.13
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 2 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	1.17 bp	8.5 bp −$8	13.0 bp −$130	31.6 bp −$3,160	127.1 bp −$63.5K

SoDEX: 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	4.2841	+0.131%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2793	+0.019%	$105K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2818	+0.078%	$160K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.214%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2880	+0.222%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2865	+0.188%	$262.1M	$1.08B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.2830	+0.105%	$213.5M	$420.4M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2890	+0.245%	$60.1M	$284.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	+0.497%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2729	−0.131%	$32.3M	$60.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2880	+0.222%	$77.4M	$144.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2800	+0.035%	$51.7M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2837	+0.122%	$70.8M	$127.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2850	+0.152%	—	$143.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2878	+0.218%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2992	+0.484%	$259K	$953K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2900	+0.269%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2891	+0.248%	$260K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2821	+0.084%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2880	+0.222%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3010	+0.526%	$463K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2820	+0.082%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2861	+0.178%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2839	+0.126%	$199K	$37K	3x	as long as short
ApeX Omni NEARUSDT	+0.0209%	1h	4.3020	+0.549%	$165K	$795K	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2820	+0.082%	$13.2M	$31.5M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2871	+0.201%	$2.3M	$15.8M	50x	as long as short
Kalshi KXNEARPERP	+0.0269%	8h	4.2888	+0.241%	$867K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2814	+0.069%	$231K	—	100x	as long as short
Aster NEARUSDT	+0.0332%	8h	4.2840	+0.129%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0393%	1h	4.2890	+0.245%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2736	−0.115%	$3.6M	$19.7M	25x	as long as short
SoDEX NEAR-USDlong	+0.0560%	1h	4.2785	long leg	$6K	$53K	10x
Backpack NEAR_USDC_PERP	+0.0656%	1h	4.2797	+0.028%	$1.3M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0679%	1h	4.2798	+0.032%	$349.9M	$310.5M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0739%	1h	4.2778	−0.017%	$7.4M	$38.8M	50x	as long as short
01 Exchange NEARUSD	+0.0760%	1h	4.2951	+0.388%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.2900	+0.269%	$215K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2840	+0.128%	$392K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.2870	+0.198%	$16.8M	$25.1M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1013%	1h	4.2821	+0.084%	$1.9M	$11.0M	25x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2991	+0.481%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1128%	1h	4.2838	+0.124%	$1.4M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.2882	+0.227%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1365%	1h	4.2895	+0.258%	$5K	$12K	10x	as long as short