Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.045%

Price spread now: OKX against Coinbase International−0.136%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.217%+$22 on $10k

Price spread, last 4 days (all we have)−0.743%−$74 · spread now −0.136%, 7d avg −0.018%

Together, before fees−0.526%−$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.118% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.136% now, against its 7-day average of −0.018%). If the spread goes back, that is −$12 on $10k: about 3.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NEAR-PERP-INTX	4.5542	−0.0016	get 0.0002% / 1h	12m 18s	$2.2M	$15.6M	50x
Short	OKX NEAR-USDT-SWAP	4.5480	0.0100	get 0.0100% / 8h	5h 12m	$65.6M	$308.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now −0.136%Rate

Funding earned: $24.36
Price spread: −0.136% → −0.018%: −$11.83
Slippage, 4 orders: −$25.49
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$32.96
Costs to cover: 0.455%
Break-even: 16.5 days

Slippage from Coinbase International: live order book, 2 min ago; OKX: 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 Coinbase International live order book, 2 min ago	5.04 bp	14.5 bp −$14	22.0 bp −$220	429.5 bp −$42.9K	doesn't fit
Sell OKX live order book, 2 min ago	1.10 bp	8.3 bp −$8	20.9 bp −$209	44.8 bp −$4,481	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	4.5524	−0.040%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTXlong	−0.0016%	1h	4.5542	long leg	$2.2M	$15.6M	50x
dYdX NEAR-USD	0.0000%	1h	4.5642	+0.221%	$113K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.5681	+0.305%	$482K	$21.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.5473	−0.151%	$170K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−9.073%	$578	$302K	12x	as long as short
Phemex NEARUSDT	+0.0085%	8h	4.5470	−0.158%	$3.9M	$8.3M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.5580	+0.083%	$114K	$512K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.5659	+0.257%	$435K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.5530	−0.026%	$278.9M	$1.11B	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.5484	−0.127%	$227.9M	$425.5M	75x	as long as short
OKX NEAR-USDT-SWAPshort	+0.0100%	8h	4.5480	−0.136%	$65.6M	$308.8M	50x
Bulk NEAR-USD	+0.0100%	1h	4.5467	−0.166%	$259K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.5530	−0.026%	$33.1M	$64.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.5570	+0.061%	$78.9M	$147.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.5610	+0.149%	$56.0M	$45.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.5488	−0.119%	$74.9M	$129.5M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.5510	−0.070%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.5466	−0.167%	$8.8M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.5651	+0.239%	$274K	$989K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5626	+0.183%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5600	+0.127%	$175K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.5570	+0.061%	$214K	$3.8M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.5521	−0.046%	$58K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.5620	+0.171%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.5500	−0.092%	$9K	$54K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.5720	+0.391%	$473K	$4.1M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.5605	+0.138%	$33K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.5535	−0.015%	$212K	$40K	3x	as long as short
Extended NEAR-USD	+0.0120%	1h	4.5487	−0.121%	$4.3M	$19.2M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.5670	+0.281%	$13.8M	$34.1M	75x	as long as short
Aster NEARUSDT	+0.0306%	8h	4.5628	+0.189%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0362% / S −0.0249%	1h	4.5512	−0.065%	$275K	—	100x	as long as short
Nado NEAR-PERP	+0.0386%	1h	4.5562	+0.045%	$2.0M	$3.2M	10x	as long as short
01 Exchange NEARUSD	+0.0392%	1h	4.5612	+0.154%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.5680	+0.303%	$221K	$1.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0585%	1h	4.5531	−0.024%	$2.0M	$4.5M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0597%	1h	4.5666	+0.272%	$1.4M	$6.7M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0677%	1h	4.5533	−0.021%	$8.4M	$41.3M	50x	as long as short
Lighter RH NEAR	+0.0720%	1h	4.5718	+0.386%	$1.6M	$7.1M	10x	as long as short
Hyperliquid NEAR	+0.0816%	1h	4.5618	+0.167%	$382.6M	$321.0M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.5923	+0.837%	$1.9M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.5639	+0.212%	$576K	$1.4M	10x	as long as short
Lighter NEAR	+0.1208%	1h	4.5754	+0.465%	$18.3M	$26.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1600%	1h	4.5512	−0.066%	$6K	$12K	10x	as long as short