Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h +0.004%

Price spread now: ApeX Omni against SunX−0.467%73s7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1661.655% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.507%+$51 · spread now −0.467%, 7d avg −0.071%

Together, before fees+0.510%+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.396% cheaper against SunX than usual: you would sell low and buy high (spread −0.467% now, against its 7-day average of −0.071%). If the spread goes back, that is −$40 on $10k: about 49 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.003% in total) that is about years. The two prices were read 73 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	SunX NEAR-USDT	4.4940	0.0100	pay 0.0100% / 8h	1h 43m	$2K	$1.3M	20x
Short	ApeX Omni NEARUSDT	4.4730	0.0127	get 0.0016% / 1h	43m 55s	$168K	$804K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.467%Rate

Funding earned: $5.7
Price spread: −0.467% → −0.071%: −$39.63
Slippage, 4 orders: −$147.54
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$199.47
Costs to cover: 1.655%
Break-even: 252.2 days

Slippage from SunX: live order book, 10 min ago; ApeX Omni: live order book, 65 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 SunX live order book, 10 min ago	30.32 bp	49.9 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 65 min ago	8.16 bp	16.7 bp −$17	89.4 bp −$894	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	4.4806	−0.298%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4807	−0.296%	$110K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4851	−0.198%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.855%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4880	−0.134%	$111K	$496K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4810	−0.289%	$230.6M	$429.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4780	−0.356%	$63.4M	$300.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−1.277%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4814	−0.280%	$34.9M	$60.1M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4830	−0.245%	$53.5M	$45.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4782	−0.352%	$74.1M	$126.5M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4687	−0.563%	$9.0M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4748	−0.428%	$261K	$966K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4881	−0.131%	$283K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4885	−0.122%	$59K	$235K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.4940	long leg	$2K	$1.3M	20x
HTX NEAR-USDT	+0.0100%	8h	4.4950	+0.022%	$466K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4800	−0.312%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0106%	8h	4.4830	−0.245%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0123%	8h	4.4756	−0.409%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDTshort	+0.0127%	1h	4.4730	−0.467%	$168K	$804K	50x
Aevo NEAR-PERP	+0.0128%	1h	4.4875	−0.145%	$209K	$40K	3x	as long as short
BingX NEAR-USDT	+0.0181%	8h	4.4840	−0.223%	—	$144.0M	—	as long as short
MEXC NEAR_USDT	+0.0182%	8h	4.4810	−0.289%	$85.6M	$145.3M	200x	as long as short
Binance NEARUSDT	+0.0185%	8h	4.4830	−0.245%	$272.9M	$1.09B	75x	as long as short
SoDEX NEAR-USD	+0.0204%	1h	4.4845	−0.211%	$5K	$52K	10x	as long as short
Kalshi KXNEARPERP	+0.0295%	8h	4.4796	−0.320%	$1.1M	$25.0M	2.2x	as long as short
BloFin NEAR-USDT	+0.0302%	8h	4.4870	−0.156%	$13.6M	$33.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0316% / S −0.0200%	1h	4.4825	−0.256%	$239K	—	100x	as long as short
Extended NEAR-USD	+0.0336%	1h	4.4790	−0.333%	$3.7M	$18.9M	25x	as long as short
Aster NEARUSDT	+0.0338%	8h	4.4820	−0.267%	$2.9M	$5.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4900	−0.089%	$2.3M	$16.5M	50x	as long as short
01 Exchange NEARUSD	+0.0504%	1h	4.4891	−0.109%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0538%	1h	4.4840	−0.223%	$1.8M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0585%	1h	4.4879	−0.136%	$1.3M	$6.5M	20x	as long as short
Hyperliquid NEAR	+0.0612%	1h	4.4875	−0.145%	$369.2M	$309.5M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0651%	1h	4.4831	−0.242%	$7.4M	$38.3M	50x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4900	−0.089%	$228K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.1000%	1h	4.4865	−0.167%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.5001	+0.136%	$1.9M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1044%	1h	4.4892	−0.107%	$1.9M	$12.3M	25x	as long as short
Lighter NEAR	+0.1056%	1h	4.4918	−0.048%	$17.6M	$24.7M	15x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4833	−0.238%	$413K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1238%	1h	4.4694	−0.547%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4892	−0.107%	$678K	$1.4M	10x	as long as short