Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Phemex against Aevo+0.020%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1731.727% of the position

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)+0.015%+$2 · spread now +0.020%, 7d avg −0.003%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.022% dearer against Aevo than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo NEAR-PERP	4.5391	0.0104	pay 0.0013% / 1h	8m 21s	$211K	$34K	3x
Short	Phemex NEARUSDT	4.5400	0.0100	get 0.0100% / 8h	4h 08m	$3.2M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$0.84
Price spread: +0.020% → −0.003%: $2.24
Slippage, 4 orders: −$144.68
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$171.28
Costs to cover: 1.727%
Break-even: never at this rate

Slippage from Aevo: live order book, 34 min ago; Phemex: live order book, 4 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 Aevo live order book, 34 min ago	61.26 bp	72.4 bp −$72	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.11 bp	7.1 bp −$7	7.1 bp −$71	doesn't fit	doesn't fit

NEAR on 45 exchanges

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
Kraken Futures PF_NEARUSD	−0.0376%	1h	4.5362	−0.063%	$7.5M	$37.0M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.5353	−0.084%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.5307	−0.185%	$111K	$53K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.5228	−0.359%	$881K	$27.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0007%	1h	4.5384	−0.015%	$169K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−8.771%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.5360	−0.068%	$123K	$530K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.5403	+0.026%	$2.6M	$5.3M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.5414	+0.051%	$271.2M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.5401	+0.022%	$233.8M	$430.0M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.5370	−0.046%	$64.5M	$312.7M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5150	−0.531%	$278K	$25K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.5372	−0.042%	$42.4M	$65.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.5400	+0.020%	$79.0M	$178.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5400	+0.020%	$56.3M	$45.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.5373	−0.040%	$75.7M	$129.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.5390	−0.002%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4953	−0.966%	$8.7M	$15.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.5032	−0.790%	$249K	$859K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5029	−0.797%	$1.5M	$1.9M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5000	−0.862%	$169K	$820K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5373	−0.040%	$195K	$4.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5409	+0.040%	$56K	$255K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5460	+0.152%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.5378	−0.029%	$6K	$36K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5460	+0.152%	$472K	$3.7M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.5400	+0.020%	$3.2M	$8.5M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.5355	−0.080%	$33K	$389	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.5348	−0.094%	$3.7M	$15.5M	25x	as long as short
Aevo NEAR-PERPlong	+0.0104%	1h	4.5391	long leg	$211K	$34K	3x
GMX NEAR/USD [ETH-USDC]	L +0.0185% / S +0.0013%	1h	4.5398	+0.014%	$219K	—	100x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.5280	−0.245%	$13.0M	$32.2M	75x	as long as short
Hyperliquid NEAR	+0.0237%	1h	4.5407	+0.035%	$364.4M	$312.1M	10x	as long as short
Arcus NEAR-USD	+0.0253%	1h	4.5370	−0.046%	$229K	$1.4M	10x	as long as short
Lighter RH NEAR	+0.0280%	1h	4.5435	+0.097%	$1.6M	$6.0M	10x	as long as short
01 Exchange NEARUSD	+0.0288%	1h	4.5375	−0.035%	$13K	$4K	10x	as long as short
Nado NEAR-PERP	+0.0393%	1h	4.5135	−0.564%	$1.8M	$3.2M	10x	as long as short
RISEx NEAR/USDC	+0.0478%	1h	4.5368	−0.050%	$569K	$1.8M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0544%	1h	4.5417	+0.057%	$2.4M	$18.0M	50x	as long as short
Pacifica NEAR	+0.0687%	1h	4.5348	−0.094%	$428K	$1.1M	10x	as long as short
Phoenix NEAR	+0.0733%	1h	4.5096	−0.650%	$1.7M	$2.6M	10x	as long as short
Lighter NEAR	+0.0744%	1h	4.5444	+0.117%	$17.9M	$26.9M	15x	as long as short
Backpack NEAR_USDC_PERP	+0.0787%	1h	4.5281	−0.242%	$1.1M	$7.2M	20x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0829%	1h	4.5441	+0.110%	$2.0M	$13.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.1004%	1h	4.5180	−0.466%	$6K	$6K	10x	as long as short