Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: Orderly against SoDEX+0.359%56s7-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 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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.359% dearer against SoDEX than usual: you sell high and buy low, +$36 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX NEAR-USD	4.5380	0.0100	pay 0.0013% / 1h	4m 00s	$6K	$36K	10x
Short	Orderly PERP_NEAR_USDC	4.5543	0.0100	get 0.0100% / 8h	4h 04m	$56K	$255K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.359%Rate

Funding earned: $0
Price spread: +0.359% → 0.000%: $35.92
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $21.92
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

SoDEX 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 exchanges

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
Kraken Futures PF_NEARUSD	−0.0375%	1h	4.5518	+0.304%	$7.6M	$37.0M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.5483	+0.226%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.5437	+0.126%	$111K	$53K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.5486	+0.234%	$868K	$27.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0007%	1h	4.5495	+0.253%	$170K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.748%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.5510	+0.286%	$124K	$530K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.5559	+0.394%	$2.6M	$5.3M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.5560	+0.397%	$271.8M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.5500	+0.264%	$234.8M	$430.5M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.5460	+0.176%	$64.8M	$313.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5450	+0.154%	$280K	$25K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.5533	+0.337%	$42.6M	$65.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.5560	+0.397%	$80.2M	$178.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5550	+0.375%	$56.3M	$44.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.5498	+0.260%	$75.9M	$129.6M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.5540	+0.353%	—	$78.0M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.5272	−0.238%	$8.7M	$15.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.5147	−0.512%	$250K	$860K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5340	−0.088%	$1.5M	$1.9M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5380	0.000%	$170K	$819K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5518	+0.304%	$193K	$4.2M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.5543	+0.359%	$56K	$255K	20x
SunX NEAR-USDT	+0.0100%	8h	4.5600	+0.485%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USDlong	+0.0100%	1h	4.5380	long leg	$6K	$36K	10x
HTX NEAR-USDT	+0.0100%	8h	4.5590	+0.463%	$474K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.5540	+0.353%	$3.3M	$8.7M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.5468	+0.193%	$33K	$389	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.5478	+0.216%	$3.8M	$15.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.5527	+0.323%	$212K	$34K	3x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0184% / S +0.0014%	1h	4.5508	+0.283%	$219K	—	100x	as long as short
Hyperliquid NEAR	+0.0211%	1h	4.5576	+0.432%	$365.8M	$312.6M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.5410	+0.066%	$12.9M	$32.3M	75x	as long as short
Arcus NEAR-USD	+0.0253%	1h	4.5530	+0.331%	$230K	$1.4M	10x	as long as short
Lighter RH NEAR	+0.0256%	1h	4.5595	+0.474%	$1.6M	$6.0M	10x	as long as short
01 Exchange NEARUSD	+0.0280%	1h	4.5517	+0.302%	$13K	$4K	10x	as long as short
Nado NEAR-PERP	+0.0394%	1h	4.5470	+0.198%	$1.8M	$3.2M	10x	as long as short
RISEx NEAR/USDC	+0.0478%	1h	4.5512	+0.291%	$572K	$1.8M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0544%	1h	4.5582	+0.445%	$2.4M	$18.1M	50x	as long as short
Pacifica NEAR	+0.0687%	1h	4.5471	+0.202%	$430K	$1.1M	10x	as long as short
Lighter NEAR	+0.0728%	1h	4.5593	+0.470%	$17.9M	$26.9M	15x	as long as short
Phoenix NEAR	+0.0733%	1h	4.5429	+0.108%	$1.7M	$2.6M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0790%	1h	4.5600	+0.485%	$1.1M	$7.2M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0936%	1h	4.5581	+0.443%	$2.0M	$13.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.0969%	1h	4.5314	−0.145%	$6K	$6K	10x	as long as short