Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0420%/8h= −46.0% APRpaid last 24h −0.081%

Price spread now: Phemex against Lighter RH−0.126%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.528%−$53 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now −0.126%, 7d avg −0.129%

Together, before fees−0.648%+ Points / potential airdropLighter RH: Points live · farm board−$65 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.129%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH NEAR	4.3715	0.0520	pay 0.0065% / 1h	13m 28s	$1.5M	$6.7M	10x
Short	Phemex NEARUSDT	4.3660	0.0100	get 0.0100% / 8h	13m 28s	$3.6M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$88.2
Price spread: −0.126% → −0.129%: $0.33
Slippage, 4 orders: −$30.36
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$130.23
Costs to cover: 0.424%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; Phemex: 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 RH live order book, 5 min ago	3.09 bp	3.9 bp −$4	10.9 bp −$109	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	3.44 bp	18.3 bp −$18	48.6 bp −$486	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	4.3507	−0.476%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3639	−0.175%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3491	−0.512%	$163K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0017%	1h	4.3631	−0.192%	$7.1M	$38.4M	50x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.273%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3620	−0.217%	$113K	$498K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3460	−0.583%	$219.5M	$428.7M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3430	−0.652%	$61.0M	$294.4M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3601	−0.262%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3477	−0.544%	$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	4.3500	−0.492%	$52.7M	$46.0M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3516	−0.455%	$71.9M	$127.9M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3658	−0.130%	$8.9M	$18.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3647	−0.156%	$253K	$902K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3636	−0.181%	$1.4M	$1.6M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3640	−0.172%	$166K	$816K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3606	−0.249%	$277K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3479	−0.540%	$58K	$235K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3740	+0.057%	$1K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3670	−0.103%	$5K	$50K	10x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.3660	−0.126%	$3.6M	$8.2M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3666	−0.113%	$32K	$585	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3623	−0.210%	$3.6M	$16.7M	25x	as long as short
Aevo NEAR-PERP	+0.0120%	1h	4.3680	−0.080%	$203K	$38K	3x	as long as short
Aster NEARUSDT	+0.0135%	8h	4.3516	−0.455%	$2.7M	$4.8M	50x	as long as short
Hyperliquid NEAR	+0.0142%	1h	4.3568	−0.336%	$351.1M	$316.1M	10x	as long as short
HTX NEAR-USDT	+0.0152%	8h	4.3660	−0.126%	$465K	$3.8M	75x	as long as short
Binance NEARUSDT	+0.0162%	8h	4.3513	−0.462%	$263.5M	$1.09B	75x	as long as short
MEXC NEAR_USDT	+0.0165%	8h	4.3480	−0.538%	$87.9M	$153.3M	200x	as long as short
Kalshi KXNEARPERP	+0.0177%	8h	4.3669	−0.105%	$981K	$25.1M	2.2x	as long as short
BingX NEAR-USDC	+0.0178%	8h	4.3490	−0.515%	—	$6.6M	—	as long as short
01 Exchange NEARUSD	+0.0240%	1h	4.3612	−0.236%	$13K	$7K	10x	as long as short
BloFin NEAR-USDT	+0.0288%	8h	4.3620	−0.217%	$13.3M	$32.2M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0338% / S −0.0237%	1h	4.3626	−0.204%	$253K	—	100x	as long as short
Nado NEAR-PERP	+0.0383%	1h	4.3560	−0.355%	$1.7M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0461%	1h	4.3694	−0.048%	$1.0M	$7.1M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0488%	1h	4.3667	−0.110%	$2.3M	$17.0M	50x	as long as short
Lighter RH NEARlong	+0.0520%	1h	4.3715	long leg	$1.5M	$6.7M	10x
Lighter NEAR	+0.0552%	1h	4.3719	+0.010%	$17.2M	$25.4M	15x	as long as short
Arcus NEAR-USD	+0.0638%	1h	4.3650	−0.149%	$230K	$1.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0643%	1h	4.3699	−0.037%	$1.9M	$13.1M	25x	as long as short
Pacifica NEAR	+0.0949%	1h	4.3662	−0.121%	$411K	$1.4M	10x	as long as short
Phoenix NEAR	+0.0949%	1h	4.3782	+0.153%	$1.8M	$2.4M	10x	as long as short
RISEx NEAR/USDC	+0.0965%	1h	4.3611	−0.238%	$609K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1132%	1h	4.3576	−0.317%	$5K	$7K	10x	as long as short