Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0308%/8h= −33.7% APRpaid last 24h −0.183%

Price spread now: Bybit against Lighter−0.179%7-day average −0.185% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.736%−$74 on $10k

Price spread, last 7 days−0.016%−$2 · spread now −0.179%, 7d avg −0.185%

Together, before fees−0.752%+ Points / potential airdropLighter: Season 3 · farm board−$75 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.185%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NEAR	4.1875	0.0408	pay 0.0051% / 1h	31m 56s	$16.0M	$23.2M	15x
Short	Bybit NEARUSDT	4.1800	0.0100	get 0.0100% / 8h	1h 31m	$213.1M	$423.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.179%Rate

Funding earned: −$64.68
Price spread: −0.179% → −0.185%: $0.62
Slippage, 4 orders: −$17.94
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$93
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Bybit: 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 Lighter live order book, 7 min ago	1.53 bp	2.4 bp −$2	10.9 bp −$109	58.5 bp −$5,854	doesn't fit
Sell Bybit live order book, 2 min ago	1.20 bp	8.2 bp −$8	13.6 bp −$136	34.4 bp −$3,435	170.5 bp −$85.3K

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	4.1736	−0.331%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1733	−0.339%	$2.1M	$12.7M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−1.110%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1769	−0.254%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1731	−0.344%	$430K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1802	−0.173%	$207K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.1820	−0.131%	$7.6M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0080%	1h	4.1762	−0.270%	$12K	$7K	10x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1848	−0.064%	$1.5M	$6.9M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1730	−0.346%	$111K	$482K	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	4.1797	−0.186%	$53K	$158K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1701	−0.416%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1820	−0.131%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1763	−0.267%	$361K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.1805	−0.166%	$239.0M	$1.07B	75x	as long as short
Bybit NEARUSDTshort	+0.0100%	8h	4.1800	−0.179%	$213.1M	$423.2M	75x
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1800	−0.179%	$57.5M	$276.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1770	−0.251%	$310K	$1.6M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1500	−0.895%	$236K	$4K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1767	−0.258%	$29.9M	$57.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1790	−0.203%	$82.1M	$141.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1830	−0.107%	$55.1M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1805	−0.167%	$69.2M	$125.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1730	−0.346%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1530	−0.823%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1767	−0.258%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1831	−0.105%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1790	−0.203%	$175K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1758	−0.279%	$206K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1800	−0.179%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1788	−0.208%	$5K	$46K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.1800	−0.179%	$3.8M	$8.2M	50x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1788	−0.207%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1786	−0.213%	$201K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1740	−0.322%	$12.2M	$33.2M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0252%	1h	4.1825	−0.119%	$1.8M	$2.2M	25x	as long as short
Hyperliquid NEAR	+0.0310%	1h	4.1807	−0.162%	$352.9M	$298.8M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1753	−0.291%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1790	−0.204%	$281K	—	100x	as long as short
Lighter NEARlong	+0.0408%	1h	4.1875	long leg	$16.0M	$23.2M	15x
Backpack NEAR_USDC_PERP	+0.0439%	1h	4.1796	−0.188%	$1.2M	$5.7M	20x	as long as short
Nado NEAR-PERP	+0.0536%	1h	4.1715	−0.382%	$1.8M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1571	−0.726%	$1.7M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.0832%	1h	4.1712	−0.390%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0981%	8h	4.1860	−0.036%	$448K	$3.6M	75x	as long as short