Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0460%/8h= −50.4% APRpaid last 24h −0.232%

Price spread now: SunX against Lighter−0.091%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1471.467% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.810%−$81 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.091%, 7d avg −0.021%

Together, before fees−0.744%+ Points / potential airdropLighter: Season 3 · farm board−$74 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and SunX is 0.069% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NEAR	4.3710	0.0560	pay 0.0070% / 1h	18m 47s	$17.2M	$25.3M	15x
Short	SunX NEAR-USDT	4.3670	0.0100	get 0.0100% / 8h	18m 47s	$1K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$96.6
Price spread: −0.091% → −0.021%: −$6.94
Slippage, 4 orders: −$138.73
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$250.27
Costs to cover: 1.467%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; SunX: live order book, 5 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, 5 min ago	2.88 bp	7.6 bp −$8	15.3 bp −$153	65.6 bp −$6,564	doesn't fit
Sell SunX live order book, 5 min ago	31.04 bp	84.4 bp −$84	doesn't fit	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	4.3571	−0.317%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3624	−0.197%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3579	−0.298%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3577	−0.304%	$7.1M	$38.3M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.261%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3600	−0.251%	$114K	$498K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3650	−0.137%	$220.4M	$428.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3660	−0.114%	$61.2M	$295.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3601	−0.250%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3617	−0.212%	$35.6M	$62.8M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3650	−0.137%	$52.9M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3629	−0.185%	$72.2M	$127.7M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3517	−0.440%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3412	−0.681%	$252K	$899K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3550	−0.365%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3430	−0.640%	$166K	$815K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3619	−0.208%	$278K	$4.2M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3601	−0.249%	$58K	$235K	20x	as long as short
SunX NEAR-USDTshort	+0.0100%	8h	4.3670	−0.091%	$1K	$1.3M	20x
SoDEX NEAR-USD	+0.0100%	1h	4.3600	−0.251%	$5K	$50K	10x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3590	−0.274%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3660	−0.115%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3660	−0.114%	$3.6M	$16.8M	25x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.3615	−0.217%	$203K	$38K	3x	as long as short
HTX NEAR-USDT	+0.0148%	8h	4.3710	+0.001%	$465K	$3.8M	75x	as long as short
Aster NEARUSDT	+0.0150%	8h	4.3649	−0.140%	$2.7M	$4.9M	50x	as long as short
Hyperliquid NEAR	+0.0154%	1h	4.3660	−0.114%	$351.9M	$315.9M	10x	as long as short
MEXC NEAR_USDT	+0.0171%	8h	4.3670	−0.091%	$88.9M	$152.7M	200x	as long as short
Binance NEARUSDT	+0.0172%	8h	4.3662	−0.110%	$264.1M	$1.09B	75x	as long as short
Kalshi KXNEARPERP	+0.0178%	8h	4.3577	−0.304%	$963K	$25.0M	2.2x	as long as short
BingX NEAR-USDC	+0.0184%	8h	4.3630	−0.182%	—	$6.7M	—	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.3629	−0.185%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0292%	8h	4.3570	−0.320%	$13.3M	$32.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0319% / S −0.0207%	1h	4.3592	−0.268%	$236K	—	100x	as long as short
Nado NEAR-PERP	+0.0382%	1h	4.3575	−0.308%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0454%	1h	4.3641	−0.157%	$1.0M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3573	−0.313%	$2.3M	$16.9M	50x	as long as short
Lighter RH NEAR	+0.0536%	1h	4.3709	−0.002%	$1.5M	$6.7M	10x	as long as short
Lighter NEARlong	+0.0560%	1h	4.3710	long leg	$17.2M	$25.3M	15x
Arcus NEAR-USD	+0.0638%	1h	4.3610	−0.228%	$229K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0759%	1h	4.3632	−0.178%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3663	−0.107%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3607	−0.235%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3615	−0.216%	$606K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1136%	1h	4.3444	−0.607%	$5K	$7K	10x	as long as short