Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Binance−0.080%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$600.601% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.583%+$58 · spread now −0.080%, 7d avg −0.001%

Together, before fees+0.558%+$56 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 0.078% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NEARUSDT	4.4656	0.0100	pay 0.0100% / 8h	4h 40m	$273.1M	$1.11B	75x
Short	Phemex NEARUSDT	4.4620	0.0100	get 0.0100% / 8h	4h 40m	$3.8M	$8.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.001%: −$7.84
Slippage, 4 orders: −$38.11
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$67.94
Costs to cover: 0.601%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago	1.12 bp	8.0 bp −$8	12.9 bp −$129	34.2 bp −$3,417	114.3 bp −$57.1K
Sell Phemex live order book, 3 min ago	7.83 bp	21.1 bp −$21	46.7 bp −$467	doesn't fit	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	4.4532	−0.276%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4653	−0.006%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4584	−0.160%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4637	−0.042%	$626K	$21.9M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4583	−0.162%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.268%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4550	−0.236%	$117K	$517K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4596	−0.134%	$426K	$1.2M	10x	as long as short
Binance NEARUSDTlong	+0.0100%	8h	4.4656	long leg	$273.1M	$1.11B	75x
Bybit NEARUSDT	+0.0100%	8h	4.4635	−0.046%	$223.5M	$423.6M	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	4.4630	−0.057%	$63.4M	$303.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4550	−0.236%	$254K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4596	−0.133%	$32.3M	$63.1M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4630	−0.057%	$75.2M	$147.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4620	−0.080%	$55.4M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4644	−0.026%	$73.4M	$130.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4600	−0.124%	—	$147.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4567	−0.199%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4571	−0.190%	$267K	$976K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4375	−0.629%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4230	−0.953%	$170K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4594	−0.138%	$240K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4612	−0.098%	$57K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4650	−0.012%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4585	−0.158%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4670	+0.032%	$465K	$4.0M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.4620	−0.080%	$3.8M	$8.4M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4587	−0.154%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4607	−0.110%	$207K	$40K	3x	as long as short
Extended NEAR-USD	+0.0192%	1h	4.4633	−0.051%	$4.0M	$19.6M	25x	as long as short
Hyperliquid NEAR	+0.0192%	1h	4.4658	+0.005%	$368.8M	$327.1M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4590	−0.147%	$14.1M	$33.3M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0224%	1h	4.4619	−0.082%	$1.4M	$6.6M	20x	as long as short
01 Exchange NEARUSD	+0.0232%	1h	4.4607	−0.109%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0301%	8h	4.4647	−0.019%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0339% / S −0.0217%	1h	4.4582	−0.165%	$249K	—	100x	as long as short
Lighter RH NEAR	+0.0488%	1h	4.4638	−0.039%	$1.6M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0507%	1h	4.4511	−0.324%	$1.9M	$3.1M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0580%	1h	4.4614	−0.093%	$2.0M	$6.8M	25x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4680	+0.055%	$221K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0582%	1h	4.4612	−0.097%	$8.3M	$40.1M	50x	as long as short
Lighter NEAR	+0.0760%	1h	4.4665	+0.021%	$18.0M	$26.2M	15x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4521	−0.301%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4614	−0.093%	$563K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1551%	1h	4.4619	−0.081%	$6K	$12K	10x	as long as short