Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against MEXC+0.023%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$570.568% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)+0.457%+$46 · spread now +0.023%, 7d avg +0.022%

Together, before fees+0.432%+$43 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NEAR_USDT	4.4250	0.0100	pay 0.0100% / 8h	4h 16m	$75.0M	$150.0M	200x
Short	Phemex NEARUSDT	4.4260	0.0100	get 0.0100% / 8h	4h 16m	$3.8M	$8.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.022%: $0.01
Slippage, 4 orders: −$44.75
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$56.74
Costs to cover: 0.568%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Phemex: live order book, 2 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, 2 min ago	1.13 bp	3.2 bp −$3	5.9 bp −$59	27.2 bp −$2,722	74.8 bp −$37.4K
Sell Phemex live order book, 2 min ago	9.02 bp	28.6 bp −$29	50.6 bp −$506	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	4.4159	−0.207%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0008%	1h	4.4266	+0.036%	$2.3M	$15.5M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4220	−0.069%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4262	+0.027%	$599K	$22.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4218	−0.073%	$166K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.418%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4160	−0.203%	$113K	$519K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4254	+0.010%	$421K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4250	0.000%	$272.2M	$1.10B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4199	−0.115%	$222.4M	$424.7M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4200	−0.113%	$63.0M	$300.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4098	−0.343%	$251K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4213	−0.084%	$32.2M	$64.2M	75x	as long as short
MEXC NEAR_USDTlong	+0.0100%	8h	4.4250	long leg	$75.0M	$150.0M	200x
KuCoin NEARUSDTM	+0.0100%	8h	4.4250	0.000%	$54.8M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4198	−0.118%	$72.6M	$130.6M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4210	−0.090%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4057	−0.436%	$8.5M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4247	−0.006%	$265K	$979K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4281	+0.069%	$1.5M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4180	−0.158%	$170K	$802K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4191	−0.133%	$246K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4249	−0.002%	$57K	$227K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4360	+0.249%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4300	+0.113%	$459K	$4.0M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.4260	+0.023%	$3.8M	$8.4M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4228	−0.050%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4290	+0.090%	$206K	$40K	3x	as long as short
SoDEX NEAR-USD	+0.0164%	1h	4.4248	−0.005%	$8K	$52K	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4290	+0.090%	$13.8M	$33.0M	75x	as long as short
Aster NEARUSDT	+0.0310%	8h	4.4250	0.000%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0321% / S −0.0190%	1h	4.4215	−0.080%	$234K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0324%	1h	4.4263	+0.029%	$1.4M	$6.5M	20x	as long as short
01 Exchange NEARUSD	+0.0336%	1h	4.4227	−0.052%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0352%	1h	4.4276	+0.059%	$365.2M	$324.7M	10x	as long as short
Extended NEAR-USD	+0.0400%	1h	4.4196	−0.123%	$4.0M	$19.7M	25x	as long as short
Nado NEAR-PERP	+0.0543%	1h	4.4175	−0.170%	$1.9M	$3.1M	10x	as long as short
Arcus NEAR-USD	+0.0581%	1h	4.4240	−0.023%	$219K	$1.8M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0587%	1h	4.4266	+0.037%	$8.2M	$39.5M	50x	as long as short
Lighter RH NEAR	+0.0648%	1h	4.4304	+0.122%	$1.5M	$7.2M	10x	as long as short
Phoenix NEAR	+0.0794%	1h	4.4289	+0.088%	$1.8M	$2.8M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0903%	1h	4.4274	+0.054%	$2.0M	$7.3M	25x	as long as short
RISEx NEAR/USDC	+0.0926%	1h	4.4219	−0.071%	$592K	$1.4M	10x	as long as short
Lighter NEAR	+0.0960%	1h	4.4337	+0.196%	$17.9M	$26.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1566%	1h	4.4216	−0.077%	$5K	$12K	10x	as long as short