Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0175%/8h= −19.1% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against MEXC−0.071%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$294as in the Price arb table

costs, in and out, $10k−$2852.852% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.240%+$24 · spread now −0.071%, 7d avg +0.014%

Together, before fees+0.144%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and gTrade (Gains Network) is 0.084% cheaper against MEXC than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NEAR_USDT	4.4800	0.0181	pay 0.0181% / 8h	1h 45m	$85.8M	$145.1M	200x
Short	gTrade (Gains Network) NEAR/USD	4.4768	L +0.0004% / S −0.0006%	get 0.0001% / 1h	45m 27s	$168K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.071%Rate

Funding earned: −$36.68
Price spread: −0.071% → +0.014%: −$8.43
Slippage, 4 orders: −$275.2
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$330.31
Costs to cover: 2.852%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 64 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 MEXC live order book, 4 min ago	1.11 bp	1.6 bp −$2	14.0 bp −$140	39.0 bp −$3,899	87.6 bp −$43.8K
Sell gTrade (Gains Network) virtual book (oracle venue), 64 min ago	130.02 bp	137.7 bp −$138	1007.8 bp −$10.1K	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	4.4778	−0.049%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4636	−0.367%	$110K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USDshort	L +0.0004% / S −0.0006%	1h	4.4768	−0.071%	$168K	—	150x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.567%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4740	−0.134%	$110K	$496K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4788	−0.027%	$230.5M	$428.6M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4760	−0.089%	$63.2M	$300.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4366	−0.968%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4703	−0.217%	$34.9M	$60.0M	75x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4790	−0.022%	$53.5M	$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	4.4763	−0.083%	$74.1M	$126.5M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4687	−0.252%	$9.0M	$18.5M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4748	−0.117%	$261K	$966K	20x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4791	−0.020%	$283K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4700	−0.223%	$58K	$233K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4750	−0.112%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4770	−0.067%	$467K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.4660	−0.313%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0107%	8h	4.4700	−0.224%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0123%	8h	4.4756	−0.098%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0127%	1h	4.4730	−0.156%	$168K	$804K	50x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.4720	−0.179%	$208K	$40K	3x	as long as short
BingX NEAR-USDC	+0.0167%	8h	4.4790	−0.022%	—	$6.7M	—	as long as short
MEXC NEAR_USDTlong	+0.0181%	8h	4.4800	long leg	$85.8M	$145.1M	200x
Binance NEARUSDT	+0.0182%	8h	4.4807	+0.015%	$272.0M	$1.09B	75x	as long as short
SoDEX NEAR-USD	+0.0217%	1h	4.4705	−0.212%	$5K	$52K	10x	as long as short
Kalshi KXNEARPERP	+0.0300%	8h	4.4687	−0.252%	$1.1M	$24.9M	2.2x	as long as short
BloFin NEAR-USDT	+0.0301%	8h	4.4780	−0.045%	$13.5M	$33.0M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0316% / S −0.0201%	1h	4.4764	−0.081%	$240K	—	100x	as long as short
Aster NEARUSDT	+0.0338%	8h	4.4780	−0.045%	$2.9M	$5.0M	50x	as long as short
Extended NEAR-USD	+0.0352%	1h	4.4720	−0.178%	$3.7M	$18.9M	25x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.4735	−0.145%	$2.3M	$16.4M	50x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.4774	−0.058%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0539%	1h	4.4740	−0.134%	$1.8M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0590%	1h	4.4705	−0.212%	$1.3M	$6.5M	20x	as long as short
Hyperliquid NEAR	+0.0634%	1h	4.4808	+0.018%	$368.5M	$309.0M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0653%	1h	4.4667	−0.297%	$7.4M	$38.3M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0848%	1h	4.4688	−0.250%	$1.9M	$12.3M	25x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4780	−0.045%	$227K	$1.6M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.5001	+0.449%	$1.9M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1040%	1h	4.4753	−0.105%	$1.5M	$6.6M	10x	as long as short
Lighter NEAR	+0.1056%	1h	4.4726	−0.165%	$17.5M	$24.7M	15x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4682	−0.263%	$412K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1213%	1h	4.4680	−0.267%	$6K	$12K	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4771	−0.065%	$678K	$1.4M	10x	as long as short