Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0271%/8h= −29.7% APRpaid last 24h −0.081%

Price spread now: Reya against SunX−0.252%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Reya is 0.252% cheaper against SunX than usual: you would sell low and buy high (−$25 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NEAR-USDT	4.3120	0.0100	pay 0.0100% / 8h	2h 25m	$1K	$1.3M	20x
Short	Reya NEARRUSDPERP	4.3011	−0.0171	pay 0.0021% / 1h	25m 19s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.252%Rate

Funding earned: −$56.88
Price spread: −0.252% → 0.000%: −$25.23
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$96.1
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 min ago; Reya: 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 SunX live order book, 9 min ago	31.33 bp	54.9 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 NEARRUSDPERPshort	−0.0171%	1h	4.3011	−0.252%	$2K	—	20x
dYdX NEAR-USD	0.0000%	1h	4.2917	−0.472%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2998	−0.282%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.966%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3010	−0.255%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3060	−0.139%	$263.3M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2990	−0.301%	$214.4M	$420.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2930	−0.441%	$60.4M	$284.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	−0.284%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3015	−0.244%	$32.5M	$60.1M	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	4.2990	−0.301%	$77.1M	$144.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3050	−0.162%	$51.8M	$45.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3012	−0.250%	$71.2M	$127.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3030	−0.209%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2778	−0.793%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2867	−0.586%	$258K	$954K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2900	−0.510%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3027	−0.216%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3054	−0.153%	$56K	$243K	20x	as long as short
SunX NEAR-USDTlong	+0.0100%	8h	4.3120	long leg	$1K	$1.3M	20x
HTX NEAR-USDT	+0.0100%	8h	4.3100	−0.046%	$464K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3000	−0.278%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3001	−0.275%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3055	−0.151%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3070	−0.116%	$13.3M	$31.7M	75x	as long as short
ApeX Omni NEARUSDT	+0.0226%	1h	4.2860	−0.603%	$165K	$794K	50x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3036	−0.195%	$2.3M	$15.9M	50x	as long as short
Kalshi KXNEARPERP	+0.0275%	8h	4.2930	−0.441%	$879K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2993	−0.295%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0332%	8h	4.3033	−0.201%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERP	+0.0393%	1h	4.3012	−0.249%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0536%	1h	4.2998	−0.283%	$3.6M	$19.6M	25x	as long as short
SoDEX NEAR-USD	+0.0590%	1h	4.3015	−0.244%	$6K	$52K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0657%	1h	4.2825	−0.684%	$1.3M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0681%	1h	4.3043	−0.179%	$351.8M	$310.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0735%	1h	4.3021	−0.230%	$7.4M	$38.8M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.3055	−0.151%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3050	−0.162%	$216K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2973	−0.340%	$394K	$1.3M	10x	as long as short
Lighter NEAR	+0.0936%	1h	4.3077	−0.099%	$16.8M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.2991	−0.299%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1136%	1h	4.3085	−0.081%	$1.4M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3035	−0.196%	$687K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1377%	1h	4.2922	−0.460%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1472%	1h	4.3054	−0.153%	$1.9M	$11.0M	25x	as long as short