Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1820%/8h= +199.3% APRpaid last 24h +0.188%

Price spread now: Lighter against Binance+0.235%7-day average +0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs+$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.733%+$73 on $10k

Price spread, last 7 days−0.074%−$7 · spread now +0.235%, 7d avg +0.155%

Together, before fees+0.659%+ Points / potential airdropLighter: Season 3 · farm board+$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$55 a day on $10k at the current rate, and Lighter is 0.080% dearer against Binance than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.155%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.733% in total (about 38.2% 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	Binance NEARUSDT	4.2720	0.0100	pay 0.0100% / 8h	47m 05s	$253.0M	$1.07B	75x
Short	Lighter NEAR	4.2820	0.1920	get 0.0240% / 1h	47m 05s	$16.5M	$23.7M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.235%Rate

Funding earned: $382.2
Price spread: +0.235% → +0.155%: $7.96
Slippage, 4 orders: −$14.21
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $365.95
Costs to cover: 0.242%
Break-even: 0.3 days

Slippage from Binance: live order book, 12 min ago; Lighter: live order book, 7 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 Binance live order book, 12 min ago	1.16 bp	7.7 bp −$8	11.4 bp −$114	27.8 bp −$2,783	112.5 bp −$56.3K
Sell Lighter live order book, 7 min ago	1.99 bp	4.9 bp −$5	15.8 bp −$158	84.1 bp −$8,414	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	4.2679	−0.097%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0072%	1h	4.2678	−0.098%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2746	+0.062%	$111K	$59K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2692	−0.066%	$401K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2702	−0.041%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.066%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2700	−0.047%	$108K	$496K	50x	as long as short
Bybit NEARUSDT	+0.0097%	8h	4.2680	−0.094%	$219.3M	$421.9M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2706	−0.032%	$31K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2730	+0.023%	$3.0M	$5.6M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica NEAR	+0.0100%	1h	4.2751	+0.072%	$402K	$1.2M	10x	as long as short
Binance NEARUSDTlong	+0.0100%	8h	4.2720	long leg	$253.0M	$1.07B	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2700	−0.047%	$60.9M	$285.2M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2710	−0.023%	$197K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3000	+0.655%	$245K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2697	−0.054%	$30.1M	$58.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2720	0.000%	$78.2M	$140.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2710	−0.023%	$56.0M	$43.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2706	−0.033%	$71.0M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2700	−0.047%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3020	+0.701%	$8.0M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2986	+0.624%	$245K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2963	+0.569%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2990	+0.632%	$180K	$788K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2724	+0.009%	$217K	$3.4M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2662	−0.136%	$57K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2730	+0.023%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2690	−0.070%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2700	−0.047%	$3.9M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2651	−0.161%	$4.0M	$15.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2685	−0.082%	$206K	$62K	3x	as long as short
Kraken Futures PF_NEARUSD	+0.0119%	1h	4.2700	−0.046%	$7.4M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0208%	1h	4.2726	+0.014%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2730	+0.023%	$13.0M	$30.7M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0336%	1h	4.2707	−0.030%	$1.9M	$2.3M	25x	as long as short
Lighter RH NEAR	+0.0344%	1h	4.2768	+0.112%	$1.5M	$7.0M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0314%	1h	4.2695	−0.058%	$274K	—	100x	as long as short
RISEx NEAR/USDC	+0.0404%	1h	4.2733	+0.031%	$412K	$1.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0431%	1h	4.2742	+0.051%	$1.3M	$5.6M	20x	as long as short
Phoenix NEAR	+0.0463%	1h	4.2919	+0.466%	$1.8M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0839%	1h	4.2710	−0.024%	$1.9M	$3.4M	10x	as long as short
HTX NEAR-USDT	+0.0879%	8h	4.2760	+0.094%	$457K	$3.7M	75x	as long as short
Hyperliquid NEAR	+0.1181%	1h	4.2783	+0.147%	$368.7M	$298.1M	10x	as long as short
Aftermath Perps NEARUSD	+0.1208%	1h	4.2998	+0.651%	$5K	$11K	10x	as long as short
Lighter NEARshort	+0.1920%	1h	4.2820	+0.235%	$16.5M	$23.7M	15x