North Melbourne have finalised a trade with Sydney to sign midfielder Dylan Stephens from the Swans, with a trio of draft picks also involved in the trade deal.

Following his request to get to Arden Street from Sydney this off-season, Stephens will head to the Kangaroos along with Pick 25 for the 2023 National Draft.

The Swans will receive Pick 44 for this year's draft and one of North Melbourne's two AFL assistance package picks which will fall at the end of next year's first-round.

The move sees the Roos add outside run and youth to their list with the acquisition of the former top five pick, who brings with him 43 games of experience from his four seasons in the red and white.

Stephens' exit is the first for the Swans amid a busy player movement window for the New South Wales club, who have already signed free agents James Jordon and Joel Hamling from Melbourne and Fremantle respectively.

The Swans are also in line to add Demons ruckman Brodie Grundy and Collingwood midfielder Taylor Adams ahead of next Wednesday's trade period deadline.

The Kangaroos are also set to further add to their list over the next week, with Carlton utility Zac Fisher also keen to land at Arden Street despite being contracted with the Blues.

Richmond free agent Bigoa Nyuon is also a chance to join the Kangaroos as an unrestricted free agent out of Punt Road.

Free agency will close at 5:00pm (AEDT) this Friday, while the trade period closes at 7:30pm next Wednesday night.