Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0363%/8h= +39.8% APRpaid last 24h +0.178%

Price spread now: Phoenix against GRVT+0.356%7-day average +0.193% · you sell dearer than you buy

Net, funding: paid 7d − costs+$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$500.495% of the position

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.717%+$72 on $10k

Price spread, last 7 days−0.309%−$31 · spread now +0.356%, 7d avg +0.193%

Together, before fees+0.408%+ Points / potential airdropGRVT: Active · farm board+$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.163% dearer against GRVT than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.193%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT NEAR_USDT_Perp	4.2676	0.0100	pay 0.0100% / 8h	7h 59m	$1.4M	$1.3M	10x
Short	Phoenix NEAR	4.2828	0.0463	get 0.0058% / 1h	59m 12s	$1.8M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against GRVT. 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 GRVTbpFee PhoenixbpOrdersPrice spread, now +0.356%Rate

Funding earned: $76.29
Price spread: +0.356% → +0.193%: $16.32
Slippage, 4 orders: −$33.52
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $43.09
Costs to cover: 0.495%
Break-even: 3.0 days

Slippage from GRVT: live order book, 4 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 GRVT live order book, 4 min ago	2.34 bp	15.6 bp −$16	36.4 bp −$364	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	0.93 bp	11.8 bp −$12	28.4 bp −$284	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	4.2630	−0.107%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0132%	1h	4.2650	−0.060%	$7.5M	$37.4M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2670	−0.014%	$2.2M	$13.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2711	+0.081%	$111K	$62K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2640	−0.084%	$369K	$18.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2643	−0.078%	$202K	—	150x	as long as short
Variational Omni NEAR	+0.0024%	8h	4.2669	−0.016%	$7.8M	$18.5M	—	as long as short
01 Exchange NEARUSD	+0.0032%	1h	4.2647	−0.068%	$13K	$7K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−2.966%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2690	+0.033%	$110K	$495K	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	4.2650	−0.061%	$57K	$194K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.2672	−0.009%	$31K	$647	10x	as long as short
Hyperliquid NEAR	+0.0100%	1h	4.2670	−0.014%	$363.5M	$301.4M	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2667	−0.020%	$3.0M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2680	+0.010%	$400K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2620	−0.131%	$252.6M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2596	−0.187%	$216.7M	$421.5M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2600	−0.178%	$60.5M	$285.1M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2640	−0.084%	$195K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2757	+0.191%	$244K	$2K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2609	−0.157%	$30.8M	$58.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2620	−0.131%	$79.2M	$137.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2650	−0.061%	$55.7M	$43.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2616	−0.140%	$70.7M	$126.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2610	−0.154%	—	$140.3M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2687	+0.026%	$243K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perplong	+0.0100%	8h	4.2676	long leg	$1.4M	$1.3M	10x
ApeX Omni NEARUSDT	+0.0100%	1h	4.2710	+0.080%	$178K	$792K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2701	+0.059%	$194K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2680	+0.010%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2630	−0.108%	$4K	$54K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2760	+0.197%	$456K	$3.7M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.2620	−0.131%	$3.8M	$8.5M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.2605	−0.167%	$3.9M	$16.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2743	+0.156%	$202K	$23K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2590	−0.201%	$13.0M	$29.2M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0276%	1h	4.2664	−0.028%	$1.4M	$5.6M	20x	as long as short
Lighter RH NEAR	+0.0336%	1h	4.2697	+0.049%	$1.6M	$6.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0360%	1h	4.2679	+0.007%	$1.9M	$2.8M	25x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0376% / S −0.0316%	1h	4.2637	−0.091%	$275K	—	100x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2663	−0.030%	$418K	$1.2M	10x	as long as short
Phoenix NEARshort	+0.0463%	1h	4.2828	+0.356%	$1.8M	$2.6M	10x
Aftermath Perps NEARUSD	+0.1185%	1h	4.2754	+0.183%	$5K	$12K	10x	as long as short
Nado NEAR-PERP	+0.1190%	1h	4.2654	−0.052%	$1.9M	$3.4M	10x	as long as short
Lighter NEAR	+0.1784%	1h	4.2761	+0.200%	$16.9M	$23.4M	15x	as long as short