Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0308%/8h= +33.7% APRpaid last 24h +0.012%

Price spread now: Extended against Variational Omni+0.140%7-day average −0.065% · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.010%+$1 on $10k

Price spread, last 7 days−0.058%−$6 · spread now +0.140%, 7d avg −0.065%

Together, before fees−0.047%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Extended is 0.205% dearer against Variational Omni than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.065%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.010% in total (about 1.1% 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	Variational Omni NEAR	4.4057	0.0100	pay 0.0100% / 8h	4h 16m	$8.5M	$18.2M	—
Short	Extended NEAR-USD	4.4118	0.0408	get 0.0051% / 1h	16m 19s	$4.0M	$19.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now +0.140%Rate

Funding earned: $64.68
Price spread: +0.140% → −0.065%: $20.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $80.17
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Extended: live order book, 3 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 Variational Omni RFQ quote, 3 min ago	3.84 bp	doesn't fit	8.4 bp −$84	31.8 bp −$3,181	doesn't fit
Sell Extended live order book, 3 min ago	1.81 bp	7.6 bp −$8	16.6 bp −$166	1014.8 bp −$101.5K	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	4.4135	+0.178%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4152	+0.216%	$2.3M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4200	+0.324%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4196	+0.316%	$610K	$22.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4149	+0.208%	$165K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.008%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4180	+0.280%	$113K	$519K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4237	+0.408%	$420K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4190	+0.302%	$271.8M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4130	+0.166%	$222.1M	$424.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4130	+0.166%	$63.0M	$299.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4098	+0.094%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4129	+0.164%	$32.1M	$64.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4160	+0.234%	$74.8M	$150.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4140	+0.189%	$54.7M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4121	+0.146%	$72.5M	$130.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4160	+0.234%	—	$6.7M	—	as long as short
Variational Omni NEARlong	+0.0100%	8h	4.4057	long leg	$8.5M	$18.2M	—
edgeX NEARUSDC	+0.0100%	4h	4.4247	+0.432%	$265K	$979K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4281	+0.508%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4180	+0.280%	$170K	$802K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4192	+0.307%	$245K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4172	+0.261%	$56K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4330	+0.620%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4260	+0.461%	$458K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4190	+0.302%	$3.8M	$8.4M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4187	+0.296%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4185	+0.291%	$205K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0166%	1h	4.4150	+0.211%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4290	+0.529%	$13.8M	$33.0M	75x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.4206	+0.338%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0190%	1h	4.4143	+0.195%	$234K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0324%	1h	4.4263	+0.468%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0336%	1h	4.4221	+0.373%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0351%	1h	4.4241	+0.418%	$364.9M	$324.7M	10x	as long as short
Extended NEAR-USDshort	+0.0408%	1h	4.4118	+0.140%	$4.0M	$19.7M	25x
Nado NEAR-PERP	+0.0544%	1h	4.4155	+0.223%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4230	+0.393%	$219K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0588%	1h	4.4169	+0.255%	$8.1M	$39.6M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0634%	1h	4.4168	+0.252%	$2.0M	$7.3M	25x	as long as short
Lighter RH NEAR	+0.0656%	1h	4.4216	+0.361%	$1.5M	$7.2M	10x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4289	+0.527%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4228	+0.389%	$592K	$1.4M	10x	as long as short
Lighter NEAR	+0.0960%	1h	4.4231	+0.396%	$17.8M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1577%	1h	4.4192	+0.307%	$5K	$12K	10x	as long as short