Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0362%/8h= +39.7% APRpaid last 24h +0.125%

Price spread now: Phoenix against BloFin−0.090%7-day average +0.179% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$460.465% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.498%+$50 on $10k

Price spread, last 3 days (all we have)+0.203%+$20 · spread now −0.090%, 7d avg +0.179%

Together, before fees+0.701%+$70 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.269% cheaper against BloFin than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of +0.179%). If the spread goes back, that is −$27 on $10k: about 2.5 days of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NEAR-USDT	4.1270	0.0220	pay 0.0220% / 8h	2h 09m	$12.3M	$33.6M	75x
Short	Phoenix NEAR	4.1233	0.0582	get 0.0073% / 1h	9m 05s	$1.7M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now −0.090%Rate

Funding earned: $76.06
Price spread: −0.090% → +0.179%: −$26.89
Slippage, 4 orders: −$27.46
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $2.71
Costs to cover: 0.465%
Break-even: 6.8 days

Slippage from BloFin: live order book, 10 min ago; Phoenix: 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 BloFin live order book, 10 min ago	2.43 bp	12.3 bp −$12	14.3 bp −$143	31.3 bp −$3,131	105.8 bp −$52.9K
Sell Phoenix live order book, 4 min ago	0.97 bp	11.8 bp −$12	17.4 bp −$174	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	4.1195	−0.183%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0024%	1h	4.1221	−0.119%	$2.1M	$12.6M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1189	−0.197%	$104K	$54K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1130	−0.339%	$396K	$18.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1246	−0.059%	$204K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	+0.339%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1190	−0.194%	$107K	$490K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1261	−0.022%	$53K	$157K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1186	−0.203%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1202	−0.166%	$2.9M	$5.8M	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	4.1188	−0.198%	$347K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1296	+0.062%	$235.3M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1279	+0.022%	$210.1M	$428.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1280	+0.024%	$56.2M	$275.3M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1150	−0.291%	$234K	$6K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1310	+0.097%	$29.3M	$58.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1300	+0.073%	$80.2M	$144.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1260	−0.024%	$55.7M	$44.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1310	+0.097%	$68.7M	$127.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1300	+0.073%	—	$136.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1114	−0.378%	$7.6M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1110	−0.388%	$234K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1103	−0.405%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1130	−0.339%	$181K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1220	−0.121%	$199K	$3.1M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1240	−0.073%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1260	−0.024%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1310	+0.097%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1257	−0.032%	$3.7M	$14.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1264	−0.014%	$200K	$61K	3x	as long as short
Arcus NEAR-USD	+0.0118%	1h	4.1220	−0.121%	$307K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0150%	1h	4.1294	+0.059%	$7.3M	$36.9M	50x	as long as short
01 Exchange NEARUSD	+0.0168%	1h	4.1210	−0.145%	$12K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0186%	1h	4.1302	+0.078%	$1.8M	$2.1M	25x	as long as short
BloFin NEAR-USDTlong	+0.0220%	8h	4.1270	long leg	$12.3M	$33.6M	75x
Lighter RH NEAR	+0.0256%	1h	4.1321	+0.124%	$1.4M	$7.2M	10x	as long as short
Nado NEAR-PERP	+0.0366%	1h	4.1166	−0.251%	$1.8M	$3.6M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0317%	1h	4.1233	−0.090%	$272K	—	100x	as long as short
RISEx NEAR/USDC	+0.0569%	1h	4.1217	−0.129%	$411K	$1.2M	10x	as long as short
Phoenix NEARshort	+0.0582%	1h	4.1233	−0.090%	$1.7M	$2.8M	10x
Backpack NEAR_USDC_PERP	+0.0740%	1h	4.1365	+0.230%	$1.4M	$5.7M	20x	as long as short
Lighter NEAR	+0.0760%	1h	4.1333	+0.153%	$15.2M	$23.0M	15x	as long as short
Hyperliquid NEAR	+0.0874%	1h	4.1366	+0.233%	$347.2M	$298.8M	10x	as long as short
Aftermath Perps NEARUSD	+0.0929%	1h	4.1231	−0.095%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.1073%	8h	4.1330	+0.145%	$444K	$3.7M	75x	as long as short