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 −0.129%

Price spread now: Phemex against HTX+0.046%7-day average −0.235% · you sell dearer than you buy

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1551.553% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.636%−$64 on $10k

Price spread, last 4 days (all we have)−0.305%−$30 · spread now +0.046%, 7d avg −0.235%

Together, before fees−0.940%−$94 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 0.281% dearer against HTX than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of −0.235%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NEAR-USDT	4.3550	0.0100	pay 0.0100% / 8h	3h 50m	$455K	$4.0M	75x
Short	Phemex NEARUSDT	4.3570	0.0100	get 0.0100% / 8h	3h 50m	$3.7M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against HTX. 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 HTXbpFee PhemexbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → −0.235%: $28.14
Slippage, 4 orders: −$131.33
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$127.19
Costs to cover: 1.553%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Phemex: 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 HTX live order book, 3 min ago	9.16 bp	29.7 bp −$30	57.6 bp −$576	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.30 bp	45.5 bp −$45	61.0 bp −$610	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	4.3532	−0.042%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3515	−0.080%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3481	−0.158%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.914%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3527	−0.053%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3500	−0.115%	$107K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3556	+0.014%	$268.0M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3508	−0.096%	$219.2M	$424.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3520	−0.069%	$62.1M	$292.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3771	+0.508%	$249K	−$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	4.3490	−0.138%	$31.8M	$60.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3520	−0.069%	$74.0M	$143.6M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3520	−0.069%	$54.2M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3504	−0.106%	$71.4M	$129.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3520	−0.069%	—	$146.2M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3497	−0.121%	$8.4M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3582	+0.074%	$255K	$948K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3520	−0.069%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3560	+0.023%	$167K	$801K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3562	+0.028%	$247K	$3.8M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3487	−0.145%	$56K	$244K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3570	+0.046%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDTlong	+0.0100%	8h	4.3550	long leg	$455K	$4.0M	75x
Phemex NEARUSDTshort	+0.0100%	8h	4.3570	+0.046%	$3.7M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3495	−0.125%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3483	−0.155%	$202K	$40K	3x	as long as short
Kalshi KXNEARPERP	+0.0114%	8h	4.3522	−0.064%	$574K	$22.7M	2.2x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3540	−0.023%	$13.7M	$32.3M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3533	−0.039%	$414K	$1.2M	10x	as long as short
Aster NEARUSDT	+0.0309%	8h	4.3524	−0.060%	$2.9M	$5.6M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0319% / S −0.0191%	1h	4.3484	−0.151%	$231K	—	100x	as long as short
SoDEX NEAR-USD	+0.0379%	1h	4.3485	−0.149%	$8K	$52K	10x	as long as short
01 Exchange NEARUSD	+0.0512%	1h	4.3538	−0.028%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0541%	1h	4.3525	−0.057%	$1.4M	$6.6M	20x	as long as short
Hyperliquid NEAR	+0.0595%	1h	4.3552	+0.005%	$358.7M	$318.2M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3550	0.000%	$214K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0640%	1h	4.3478	−0.165%	$3.9M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0689%	1h	4.3505	−0.103%	$1.9M	$3.1M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0708%	1h	4.3506	−0.102%	$7.7M	$39.6M	50x	as long as short
Lighter RH NEAR	+0.0848%	1h	4.3561	+0.025%	$1.5M	$7.3M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0854%	1h	4.3510	−0.092%	$1.9M	$8.1M	25x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3617	+0.154%	$1.8M	$2.8M	10x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3545	−0.011%	$595K	$1.4M	10x	as long as short
Lighter NEAR	+0.1352%	1h	4.3584	+0.077%	$17.6M	$24.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1633%	1h	4.3672	+0.281%	$5K	$12K	10x	as long as short