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 Bitget+0.194%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$690.687% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.267%+$27 · spread now +0.194%, 7d avg +0.026%

Together, before fees+0.262%+$26 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 0.167% dearer against Bitget than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NEARUSDT	4.4384	0.0100	pay 0.0100% / 8h	4h 47m	$73.0M	$130.6M	75x
Short	Phemex NEARUSDT	4.4470	0.0100	get 0.0100% / 8h	4h 47m	$3.8M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.194%Rate

Funding earned: $0
Price spread: +0.194% → +0.026%: $16.74
Slippage, 4 orders: −$44.7
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$51.96
Costs to cover: 0.687%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Phemex: live order book, 2 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 Bitget live order book, 2 min ago	0.56 bp	8.6 bp −$9	11.7 bp −$117	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	7.85 bp	24.2 bp −$24	27.0 bp −$270	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	4.4416	+0.072%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4444	+0.135%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4452	+0.154%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4544	+0.360%	$618K	$22.1M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4418	+0.077%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.701%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4480	+0.216%	$117K	$514K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4469	+0.191%	$425K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4445	+0.138%	$272.5M	$1.11B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4392	+0.018%	$222.4M	$424.5M	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	4.4380	−0.009%	$63.5M	$302.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.5100	+1.613%	$257K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4456	+0.162%	$32.1M	$62.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4470	+0.194%	$75.6M	$147.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4460	+0.171%	$55.2M	$46.2M	75x	as long as short
Bitget NEARUSDTlong	+0.0100%	8h	4.4384	long leg	$73.0M	$130.6M	75x
BingX NEAR-USDT	+0.0100%	8h	4.4460	+0.171%	—	$147.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4797	+0.931%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4567	+0.413%	$267K	$978K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4624	+0.541%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4510	+0.284%	$171K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4475	+0.205%	$239K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4414	+0.068%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4530	+0.329%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4415	+0.070%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4520	+0.306%	$463K	$4.0M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.4470	+0.194%	$3.8M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4469	+0.191%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4436	+0.117%	$207K	$40K	3x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.4405	+0.047%	$4.0M	$19.6M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0200%	1h	4.4487	+0.232%	$1.4M	$6.6M	20x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4460	+0.171%	$14.1M	$33.1M	75x	as long as short
Hyperliquid NEAR	+0.0230%	1h	4.4509	+0.282%	$368.7M	$325.5M	10x	as long as short
01 Exchange NEARUSD	+0.0256%	1h	4.4506	+0.275%	$13K	$7K	10x	as long as short
Aster NEARUSDT	+0.0302%	8h	4.4474	+0.204%	$3.1M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0338% / S −0.0216%	1h	4.4424	+0.090%	$248K	—	100x	as long as short
Lighter RH NEAR	+0.0472%	1h	4.4463	+0.178%	$1.5M	$7.1M	10x	as long as short
Nado NEAR-PERP	+0.0544%	1h	4.4435	+0.114%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4620	+0.532%	$220K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0585%	1h	4.4432	+0.107%	$8.2M	$40.2M	50x	as long as short
Lighter NEAR	+0.0664%	1h	4.4486	+0.230%	$17.9M	$26.2M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0741%	1h	4.4438	+0.122%	$2.0M	$6.7M	25x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4822	+0.987%	$1.9M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4519	+0.303%	$562K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1570%	1h	4.4718	+0.752%	$6K	$12K	10x	as long as short