Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0672%/8h= +73.6% APRpaid last 24h +0.070%

Price spread now: Nado against SunX−0.110%7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1451.447% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.075%+$8 on $10k

Price spread, last 3 days (all we have)−0.356%−$36 · spread now −0.110%, 7d avg −0.156%

Together, before fees−0.281%+ Points / potential airdropNado: Active · farm board−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Nado is 0.046% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.156%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.075% in total (about 8.6% 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	SunX NEAR-USDT	4.2690	0.0100	pay 0.0100% / 8h	38m 10s	$2K	$1.4M	20x
Short	Nado NEAR-PERP	4.2643	0.0772	get 0.0096% / 1h	38m 10s	$1.9M	$3.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.110%Rate

Funding earned: $141.12
Price spread: −0.110% → −0.156%: $4.56
Slippage, 4 orders: −$129.75
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $0.93
Costs to cover: 1.447%
Break-even: 7.0 days

Slippage from SunX: live order book, 6 min ago; Nado: live order book, 1 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, 6 min ago	30.44 bp	50.1 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	0.70 bp	7.2 bp −$7	17.0 bp −$170	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	4.2641	−0.116%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2750	+0.141%	$2.2M	$13.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2749	+0.138%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2706	+0.037%	$398K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2673	−0.040%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.998%	$578	$302K	12x	as long as short
Bybit NEARUSDT	+0.0081%	8h	4.2632	−0.136%	$218.4M	$421.9M	75x	as long as short
Variational Omni NEAR	+0.0087%	8h	4.2660	−0.071%	$7.8M	$18.2M	—	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2650	−0.094%	$109K	$496K	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2726	+0.084%	$31K	$647	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NEARUSDT	+0.0100%	8h	4.2712	+0.051%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2764	+0.172%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2650	−0.094%	$253.0M	$1.07B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2650	−0.094%	$60.8M	$284.8M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2700	+0.023%	$202K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2674	−0.037%	$243K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2665	−0.059%	$30.0M	$59.0M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2670	−0.047%	$78.1M	$141.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2700	+0.023%	$55.8M	$43.5M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2654	−0.084%	$70.9M	$126.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2660	−0.070%	—	$138.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2660	−0.071%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2670	−0.047%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	+0.047%	$178K	$791K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2671	−0.045%	$198K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2674	−0.037%	$57K	$194K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.2690	long leg	$2K	$1.4M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.2662	−0.066%	$13K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2690	0.000%	$3.9M	$8.4M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2646	−0.103%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2661	−0.069%	$205K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2696	+0.013%	$7.6M	$37.2M	50x	as long as short
01 Exchange NEARUSD	+0.0136%	1h	4.2665	−0.059%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2730	+0.094%	$13.0M	$30.7M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0374% / S −0.0313%	1h	4.2672	−0.042%	$273K	—	100x	as long as short
Lighter RH NEAR	+0.0376%	1h	4.2726	+0.084%	$1.5M	$7.0M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0383%	1h	4.2705	+0.035%	$1.9M	$2.3M	25x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2678	−0.029%	$416K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0449%	1h	4.2713	+0.054%	$1.4M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2717	+0.063%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERPshort	+0.0772%	1h	4.2643	−0.110%	$1.9M	$3.4M	10x
HTX NEAR-USDT	+0.0850%	8h	4.2810	+0.281%	$458K	$3.7M	75x	as long as short
Hyperliquid NEAR	+0.0951%	1h	4.2725	+0.082%	$367.0M	$298.2M	10x	as long as short
Aftermath Perps NEARUSD	+0.1192%	1h	4.2753	+0.147%	$5K	$11K	10x	as long as short
Lighter NEAR	+0.1776%	1h	4.2785	+0.223%	$16.4M	$23.7M	15x	as long as short