Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Phemex against BingX−0.168%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$580.576% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 3 days (all we have)+0.488%+$49 · spread now −0.168%, 7d avg +0.027%

Together, before fees+0.512%+$51 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 0.195% cheaper against BingX than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NEAR-USDC	4.1730	0.0100	pay 0.0100% / 8h	1h 28m	—	$6.6M	—
Short	Phemex NEARUSDT	4.1660	0.0100	get 0.0100% / 8h	1h 28m	$3.8M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BingX. 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 BingXbpFee PhemexbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → +0.027%: −$19.46
Slippage, 4 orders: −$35.62
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$77.08
Costs to cover: 0.576%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Phemex: live order book, 5 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 BingX live order book, 9 min ago	1.20 bp	12.3 bp −$12	24.6 bp −$246	64.1 bp −$6,410	418.1 bp −$209.0K
Sell Phemex live order book, 5 min ago	4.78 bp	18.7 bp −$19	47.8 bp −$478	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	4.1631	−0.237%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1657	−0.175%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.767%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1629	−0.242%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1669	−0.146%	$429K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1662	−0.162%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0049%	1h	4.1682	−0.115%	$7.6M	$36.8M	50x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1684	−0.110%	$1.5M	$7.0M	10x	as long as short
01 Exchange NEARUSD	+0.0096%	1h	4.1794	+0.153%	$12K	$7K	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1800	+0.168%	$111K	$482K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1653	−0.185%	$53K	$158K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1599	−0.313%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1688	−0.101%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1621	−0.260%	$360K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1800	+0.168%	$239.5M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1770	+0.096%	$213.1M	$423.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1780	+0.120%	$57.6M	$276.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1750	+0.048%	$240K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1723	−0.017%	$29.9M	$57.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1700	−0.072%	$82.0M	$141.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1640	−0.216%	$54.8M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1728	−0.005%	$69.1M	$125.4M	75x	as long as short
BingX NEAR-USDClong	+0.0100%	8h	4.1730	long leg	—	$6.6M	—
Variational Omni NEAR	+0.0100%	8h	4.1650	−0.192%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1758	+0.068%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1588	−0.340%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1730	0.000%	$174K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1689	−0.098%	$204K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1730	0.000%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1650	−0.192%	$5K	$46K	10x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.1660	−0.168%	$3.8M	$8.2M	50x
Bulk NEAR-USD	+0.0100%	1h	4.1600	−0.312%	$237K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1685	−0.108%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1648	−0.196%	$201K	$62K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0182%	1h	4.1684	−0.110%	$1.8M	$2.2M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1650	−0.192%	$12.3M	$31.6M	75x	as long as short
Hyperliquid NEAR	+0.0342%	1h	4.1697	−0.079%	$352.1M	$298.9M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1781	+0.123%	$411K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1656	−0.177%	$281K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0433%	1h	4.1698	−0.077%	$1.2M	$5.7M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1800	+0.168%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0548%	1h	4.1793	+0.152%	$1.8M	$3.5M	10x	as long as short
Lighter NEAR	+0.0552%	1h	4.1725	−0.012%	$15.9M	$23.3M	15x	as long as short
Aftermath Perps NEARUSD	+0.0859%	1h	4.1720	−0.025%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0972%	8h	4.1770	+0.096%	$447K	$3.6M	75x	as long as short