Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0804%/8h= −88.0% APRpaid last 24h −0.057%

Price spread now: Orderly against Lighter RH−0.016%7-day average −0.142% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.480%−$48 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now −0.016%, 7d avg −0.142%

Together, before fees−0.601%+ Points / potential airdropLighter RH: Points live · farm board−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.126% dearer against Lighter RH than usual: you sell high and buy low (spread −0.016% now, against its 7-day average of −0.142%): +$13 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.480% in total) that is about 44 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.480% in total (about -25.1% 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	4.3390	0.0904	pay 0.0113% / 1h	23m 24s	$1.5M	$7.4M	10x
Short	Orderly PERP_NEAR_USDC	4.3383	0.0100	get 0.0100% / 8h	3h 23m	$57K	$246K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Lighter RH. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpOrdersPrice spread, now −0.016%Rate

Funding earned: −$168.84
Price spread: −0.016% → −0.142%: $12.58
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$162.26
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 5 min ago; Orderly: no order-book sample. Net counts fees only.

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, 5 min ago	2.06 bp	3.7 bp −$4	9.8 bp −$98	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4.3234	−0.360%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3298	−0.211%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3229	−0.372%	$168K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.563%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3423	+0.076%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3240	−0.346%	$109K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3245	−0.334%	$265.0M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3193	−0.454%	$214.1M	$428.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3220	−0.392%	$61.3M	$290.6M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.322%	$246K	−$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	4.3298	−0.212%	$32.1M	$61.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3270	−0.277%	$72.9M	$145.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3230	−0.369%	$53.5M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3239	−0.348%	$71.3M	$128.8M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3280	−0.254%	—	$145.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3627	+0.546%	$8.4M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3622	+0.534%	$255K	$947K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3500	+0.254%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3640	+0.576%	$168K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3253	−0.316%	$279K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDCshort	+0.0100%	8h	4.3383	−0.016%	$57K	$246K	20x
SunX NEAR-USDT	+0.0100%	8h	4.3570	+0.415%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3520	+0.300%	$472K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3400	+0.023%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3306	−0.194%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3395	+0.012%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3540	+0.346%	$13.5M	$32.3M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3338	−0.119%	$407K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0285%	8h	4.3439	+0.113%	$780K	$23.3M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0324% / S −0.0199%	1h	4.3348	−0.097%	$234K	—	100x	as long as short
Aster NEARUSDT	+0.0333%	8h	4.3240	−0.346%	$2.8M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0379%	1h	4.3350	−0.092%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.3235	−0.357%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0578%	1h	4.3419	+0.067%	$1.3M	$6.7M	20x	as long as short
Nado NEAR-PERP	+0.0587%	1h	4.3220	−0.392%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0611%	1h	4.3275	−0.265%	$354.4M	$313.7M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3280	−0.254%	$212K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0640%	1h	4.3236	−0.355%	$3.8M	$20.0M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3356	−0.079%	$7.6M	$39.3M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0811%	1h	4.3390	0.000%	$1.9M	$9.0M	25x	as long as short
Lighter RH NEARlong	+0.0904%	1h	4.3390	long leg	$1.5M	$7.4M	10x
Phoenix NEAR	+0.0941%	1h	4.3721	+0.763%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1112%	1h	4.3387	−0.007%	$17.5M	$25.0M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3248	−0.328%	$686K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1574%	1h	4.3462	+0.166%	$5K	$13K	10x	as long as short