Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1020%/8h= +111.7% APRpaid last 24h +0.232%

Price spread now: Lighter against MEXC+0.086%7-day average +0.163% · you sell dearer than you buy

Net, funding: paid 7d − costs+$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$120.120% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.820%+$82 on $10k

Price spread, last 7 days+0.069%+$7 · spread now +0.086%, 7d avg +0.163%

Together, before fees+0.889%+ Points / potential airdropLighter: Season 3 · farm board+$89 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.077% cheaper against MEXC than usual: you would sell low and buy high (spread +0.086% now, against its 7-day average of +0.163%). If the spread goes back, that is −$8 on $10k: about 6 hours of funding at the current rate (+$31 a day). At the pace of the last 7 days (+0.820% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NEAR_USDT	4.3510	0.0100	pay 0.0100% / 8h	3h 24m	$73.3M	$145.4M	200x
Short	Lighter NEAR	4.3547	0.1120	get 0.0140% / 1h	24m 30s	$17.5M	$25.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.086%Rate

Funding earned: $214.2
Price spread: +0.086% → +0.163%: −$7.72
Slippage, 4 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $194.49
Costs to cover: 0.120%
Break-even: 0.6 days

Slippage from MEXC: live order book, 5 min ago; Lighter: live order book, 4 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, 5 min ago	1.15 bp	1.1 bp −$1	3.4 bp −$34	12.3 bp −$1,232	54.1 bp −$27.1K
Sell Lighter live order book, 4 min ago	1.15 bp	4.4 bp −$4	13.3 bp −$133	64.3 bp −$6,432	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	4.3438	−0.166%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3466	−0.102%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3478	−0.073%	$163K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.826%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3638	+0.294%	$2.4M	$15.9M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3440	−0.161%	$110K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3492	−0.042%	$266.5M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3453	−0.131%	$215.0M	$428.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3450	−0.138%	$61.6M	$291.8M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3412	−0.225%	$247K	−$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	4.3466	−0.101%	$32.2M	$61.4M	75x	as long as short
MEXC NEAR_USDTlong	+0.0100%	8h	4.3510	long leg	$73.3M	$145.4M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.3520	+0.023%	$53.9M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3451	−0.136%	$71.4M	$128.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3470	−0.092%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3627	+0.269%	$8.4M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3622	+0.257%	$255K	$947K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3589	+0.182%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3640	+0.299%	$168K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3483	−0.062%	$279K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3504	−0.014%	$58K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3560	+0.115%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3720	+0.483%	$474K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3500	−0.023%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3471	−0.090%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3507	−0.008%	$202K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3540	+0.069%	$13.5M	$32.3M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3507	−0.007%	$408K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0285%	8h	4.3552	+0.097%	$783K	$23.3M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0326% / S −0.0203%	1h	4.3477	−0.075%	$236K	—	100x	as long as short
Aster NEARUSDT	+0.0333%	8h	4.3470	−0.092%	$2.9M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0373%	1h	4.3470	−0.092%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0528%	1h	4.3499	−0.025%	$13K	$7K	10x	as long as short
Nado NEAR-PERP	+0.0576%	1h	4.3460	−0.115%	$1.8M	$3.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0581%	1h	4.3504	−0.014%	$1.3M	$6.7M	20x	as long as short
Hyperliquid NEAR	+0.0627%	1h	4.3491	−0.044%	$356.3M	$313.5M	10x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3490	−0.046%	$213K	$1.6M	10x	as long as short
Extended NEAR-USD	+0.0648%	1h	4.3445	−0.149%	$3.8M	$20.0M	25x	as long as short
Kraken Futures PF_NEARUSD	+0.0709%	1h	4.3479	−0.071%	$7.6M	$39.3M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0785%	1h	4.3513	+0.007%	$1.9M	$9.0M	25x	as long as short
Lighter RH NEAR	+0.0920%	1h	4.3540	+0.069%	$1.5M	$7.4M	10x	as long as short
Phoenix NEAR	+0.0941%	1h	4.3721	+0.485%	$1.8M	$2.8M	10x	as long as short
Lighter NEARshort	+0.1120%	1h	4.3547	+0.086%	$17.5M	$25.0M	15x
RISEx NEAR/USDC	+0.1162%	1h	4.3483	−0.063%	$690K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1534%	1h	4.3550	+0.091%	$5K	$12K	10x	as long as short