Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0732%/8h= −80.2% APRpaid last 24h −0.072%

Price spread now: edgeX against Lighter RH+0.343%80s7-day average −0.139% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.300% of the position

Long on Lighter RH Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.453%−$45 on $10k

Price spread, last 7 days−0.540%−$54 · spread now +0.343%, 7d avg −0.139%

Together, before fees−0.992%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board−$99 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.481% dearer against Lighter RH than usual: you sell high and buy low (spread +0.343% now, against its 7-day average of −0.139%): +$48 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 7 days (−0.453% in total) that is about 7.4 days. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.453% in total (about -23.6% a year). A funding rate is set anew for every payment. 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 RH NEAR	4.3247	0.0832	pay 0.0104% / 1h	1m 57s	$1.5M	$6.8M	10x
Short	edgeX NEARUSDC	4.3395	0.0100	get 0.0050% / 4h	1h 01m	$252K	$906K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter RH. 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 Lighter RHbpFee edgeXbpOrdersPrice spread, now +0.343%Rate

Funding earned: −$153.72
Price spread: +0.343% → −0.139%: $48.12
Slippage, 4 orders: −$20.95
Fee Lighter RH: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$135.55
Costs to cover: 0.300%
Break-even: from the start

Slippage from Lighter RH: live order book, 2 min ago; edgeX: live order book, 32 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 RH live order book, 2 min ago	1.62 bp	3.6 bp −$4	9.8 bp −$98	doesn't fit	doesn't fit
Sell edgeX live order book, 32 min ago	6.77 bp	11.8 bp −$12	29.0 bp −$290	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	4.3160	−0.201%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3176	−0.163%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3167	−0.186%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.248%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3210	−0.086%	$105K	$492K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3170	−0.178%	$218.2M	$431.3M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3150	−0.224%	$60.7M	$290.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3565	+0.736%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3157	−0.208%	$35.1M	$62.4M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3190	−0.132%	$52.3M	$45.9M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.3166	−0.187%	$71.5M	$128.5M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3397	+0.348%	$8.7M	$18.7M	—	as long as short
edgeX NEARUSDCshort	+0.0100%	4h	4.3395	+0.343%	$252K	$906K	20x
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3350	+0.237%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3400	+0.354%	$163K	$804K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3206	−0.095%	$288K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3201	−0.106%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3280	+0.076%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3180	−0.155%	$5K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3290	+0.099%	$457K	$3.8M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3210	−0.086%	$3.6M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0103%	8h	4.3196	−0.119%	$31K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3178	−0.160%	$3.6M	$17.8M	25x	as long as short
Aevo NEAR-PERP	+0.0136%	1h	4.3205	−0.097%	$201K	$38K	3x	as long as short
BingX NEAR-USDC	+0.0201%	8h	4.3170	−0.178%	—	$6.7M	—	as long as short
MEXC NEAR_USDT	+0.0213%	8h	4.3200	−0.109%	$75.0M	$151.1M	200x	as long as short
Binance NEARUSDT	+0.0213%	8h	4.3196	−0.118%	$262.8M	$1.09B	75x	as long as short
Kalshi KXNEARPERP	+0.0217%	8h	4.3193	−0.125%	$945K	$25.1M	2.2x	as long as short
Aster NEARUSDT	+0.0257%	8h	4.3170	−0.178%	$2.8M	$4.9M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0313% / S −0.0200%	1h	4.3163	−0.195%	$231K	—	100x	as long as short
BloFin NEAR-USDT	+0.0333%	8h	4.3200	−0.109%	$13.5M	$32.0M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0395%	1h	4.3209	−0.088%	$1.3M	$6.9M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.3234	−0.030%	$2.3M	$16.5M	50x	as long as short
Hyperliquid NEAR	+0.0431%	1h	4.3203	−0.102%	$351.3M	$314.7M	10x	as long as short
01 Exchange NEARUSD	+0.0440%	1h	4.3233	−0.032%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0543%	1h	4.3197	−0.115%	$1.6M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0676%	1h	4.3154	−0.214%	$7.1M	$38.3M	50x	as long as short
Lighter NEAR	+0.0728%	1h	4.3234	−0.030%	$17.0M	$25.5M	15x	as long as short
Lighter RH NEARlong	+0.0832%	1h	4.3247	long leg	$1.5M	$6.8M	10x
Arcus NEAR-USD	+0.0880%	1h	4.3250	+0.007%	$228K	$1.6M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0908%	1h	4.3214	−0.076%	$1.9M	$13.0M	25x	as long as short
Phoenix NEAR	+0.1003%	1h	4.3376	+0.298%	$1.8M	$2.5M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.3210	−0.086%	$398K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.3238	−0.021%	$661K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1309%	1h	4.3411	+0.380%	$5K	$12K	10x	as long as short