Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0841%/8h= +92.1% APRpaid last 24h +0.156%

Price spread now: Phoenix against edgeX+0.748%7-day average +0.209% · you sell dearer than you buy

Net, funding: paid 7d − costs+$23as in the Funding arb table

Net, price: spread back to 7d avg − costs+$6as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.716%+$72 on $10k

Price spread, last 7 days−0.518%−$52 · spread now +0.748%, 7d avg +0.209%

Together, before fees+0.198%+ Points / potential airdropedgeX: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Phoenix is 0.540% dearer against edgeX than usual: you sell high and buy low: +$54 more if the spread goes back to its 7-day average of +0.209%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NEARUSDC	4.2978	0.0100	pay 0.0050% / 4h	3h 00m	$251K	$950K	20x
Short	Phoenix NEAR	4.3300	0.0941	get 0.0118% / 1h	0m 55s	$1.8M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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 edgeXbpFee PhoenixbpOrdersPrice spread, now +0.748%Rate

Funding earned: $176.58
Price spread: +0.748% → +0.209%: $53.95
Slippage, 4 orders: −$32.41
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $182.12
Costs to cover: 0.484%
Break-even: from the start

Slippage from edgeX: live order book, 43 min ago; Phoenix: 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 edgeX live order book, 43 min ago	6.91 bp	11.9 bp −$12	35.0 bp −$350	doesn't fit	doesn't fit
Sell Phoenix live order book, 3 min ago	0.93 bp	11.8 bp −$12	25.9 bp −$259	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	4.2898	−0.187%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2921	−0.135%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2865	−0.264%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.649%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.2938	−0.094%	$2.3M	$15.7M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2950	−0.066%	$111K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2907	−0.165%	$261.6M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2852	−0.294%	$212.3M	$426.2M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2860	−0.276%	$60.6M	$285.1M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2973	−0.013%	$245K	−$0	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NEAR_USDT	+0.0100%	8h	4.2865	−0.264%	$31.8M	$62.8M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2920	−0.136%	$72.5M	$147.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2900	−0.183%	$53.3M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2852	−0.294%	$70.9M	$127.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2880	−0.229%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2857	−0.281%	$8.1M	$17.9M	—	as long as short
edgeX NEARUSDClong	+0.0100%	4h	4.2978	long leg	$251K	$950K	20x
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2967	−0.026%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2960	−0.043%	$165K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2944	−0.080%	$267K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2906	−0.169%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3030	+0.120%	$1K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2990	+0.027%	$458K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2920	−0.136%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2917	−0.142%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2910	−0.159%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2930	−0.113%	$13.4M	$31.6M	75x	as long as short
Kalshi KXNEARPERP	+0.0250%	8h	4.2955	−0.055%	$773K	$23.9M	2.2x	as long as short
Pacifica NEAR	+0.0263%	1h	4.2952	−0.061%	$396K	$1.3M	10x	as long as short
SoDEX NEAR-USD	+0.0303%	1h	4.2885	−0.218%	$6K	$53K	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0322% / S −0.0198%	1h	4.2856	−0.285%	$231K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.2882	−0.226%	$2.8M	$5.5M	50x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.2979	+0.001%	$13K	$7K	10x	as long as short
Extended NEAR-USD	+0.0528%	1h	4.2865	−0.264%	$3.7M	$19.8M	25x	as long as short
Hyperliquid NEAR	+0.0543%	1h	4.2890	−0.206%	$350.9M	$313.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0562%	1h	4.2908	−0.164%	$1.3M	$6.8M	20x	as long as short
Nado NEAR-PERP	+0.0562%	1h	4.2935	−0.101%	$1.8M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.2990	+0.027%	$211K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0719%	1h	4.2886	−0.216%	$7.5M	$38.9M	50x	as long as short
Lighter RH NEAR	+0.0904%	1h	4.2944	−0.080%	$1.5M	$7.4M	10x	as long as short
Phoenix NEARshort	+0.0941%	1h	4.3300	+0.748%	$1.8M	$2.8M	10x
Lighter NEAR	+0.1024%	1h	4.2954	−0.057%	$17.3M	$25.1M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.2972	−0.015%	$666K	$1.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1290%	1h	4.2935	−0.101%	$1.9M	$10.0M	25x	as long as short
Aftermath Perps NEARUSD	+0.1500%	1h	4.3028	+0.114%	$5K	$12K	10x	as long as short