NEAR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1556%/8h= −170.4% APRnext payment −$1.94 per $10,000 · paid last 24h −0.212%

Price spread now: Pacifica against Lighter−0.383%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.704%−$70 on $10k

Price spread, last 4 days (all we have)+0.261%+$26 · spread now −0.383%, 7d avg −0.139%

Together, before fees−0.443%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board−$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$47 a day on $10k at the current rate, and Pacifica is 0.244% cheaper against Lighter than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.139%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.704% in total (about -36.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.94 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NEAR	4.4191	0.1656	pay 0.0207% / 1h	26m 09s	$17.7M	$25.0M	15x
Short	Pacifica NEAR	4.4021	0.0100	get 0.0013% / 1h	26m 09s	$416K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.383%Rate

Funding earned: −$326.76
Price spread: −0.383% → −0.139%: −$24.39
Slippage, 4 orders: −$40
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$399.15
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Pacifica: 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 Lighter live order book, 8 min ago	2.66 bp	5.7 bp −$6	19.1 bp −$191	81.8 bp −$8,178	doesn't fit
Sell Pacifica live order book, 3 min ago	6.51 bp	20.5 bp −$20	doesn't fit	doesn't fit	doesn't fit

NEAR on 44 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	4.3998	−0.436%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.4069	−0.276%	$2.2M	$13.9M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4003	−0.426%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4031	−0.362%	$620K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4003	−0.425%	$159K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.293%	$578	$302K	12x	as long as short
Variational Omni NEAR	+0.0072%	8h	4.3998	−0.437%	$8.6M	$18.6M	—	as long as short
Phemex NEARUSDT	+0.0092%	8h	4.4080	−0.251%	$3.9M	$8.2M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4030	−0.364%	$112K	$481K	50x	as long as short
Pacifica NEARshort	+0.0100%	1h	4.4021	−0.383%	$416K	$1.2M	10x

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NEARUSDT	+0.0100%	8h	4.4157	−0.077%	$266.5M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4128	−0.142%	$223.9M	$418.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4120	−0.160%	$62.4M	$287.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.4060	−0.296%	$209K	$1.8M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4050	−0.319%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3997	−0.439%	$31.7M	$61.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4120	−0.160%	$76.4M	$139.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4160	−0.070%	$56.4M	$42.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4161	−0.068%	$73.1M	$123.7M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4170	−0.047%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3854	−0.762%	$271K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3820	−0.839%	$1.5M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3860	−0.749%	$182K	$767K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4038	−0.346%	$218K	$3.5M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4091	−0.226%	$59K	$189K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4070	−0.274%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4080	−0.251%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4200	+0.021%	$459K	$3.9M	75x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4000	−0.431%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4042	−0.336%	$3.8M	$18.4M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4107	−0.189%	$205K	$34K	3x	as long as short
Aster NEARUSDT	+0.0158%	8h	4.4067	−0.281%	$3.1M	$5.7M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0215%	1h	4.4094	−0.219%	$7.8M	$39.9M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0262%	1h	4.4001	−0.430%	$255K	—	100x	as long as short
01 Exchange NEARUSD	+0.0400%	1h	4.4078	−0.255%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0401%	1h	4.3974	−0.490%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.4056	−0.304%	$559K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.4243	+0.118%	$1.8M	$2.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0726%	1h	4.4100	−0.206%	$1.9M	$4.2M	25x	as long as short
Lighter RH NEAR	+0.0816%	1h	4.4181	−0.022%	$1.6M	$7.0M	10x	as long as short
Hyperliquid NEAR	+0.0855%	1h	4.4070	−0.274%	$372.3M	$307.6M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0914%	1h	4.4192	+0.002%	$1.4M	$6.0M	20x	as long as short
Aftermath Perps NEARUSD	+0.1508%	1h	4.3928	−0.596%	$6K	$12K	10x	as long as short
Lighter NEARlong	+0.1656%	1h	4.4191	long leg	$17.7M	$25.0M	15x