Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0780%/8h= +85.4% APRpaid last 24h +0.057%

Price spread now: Lighter RH against OKX+0.180%7-day average +0.162% · you sell dearer than you buy

Net, funding: paid 7d − costs+$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on OKX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.443%+$44 on $10k

Price spread, last 7 days−0.055%−$5 · spread now +0.180%, 7d avg +0.162%

Together, before fees+0.388%+ Points / potential airdropLighter RH: Points live · farm board+$39 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.162%, so right now this pair is about funding alone: +$23 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.443% in total (about 23.1% 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	OKX NEAR-USDT-SWAP	4.3350	0.0100	pay 0.0100% / 8h	3h 21m	$61.4M	$291.2M	50x
Short	Lighter RH NEAR	4.3428	0.0880	get 0.0110% / 1h	21m 43s	$1.5M	$7.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against OKX. 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 OKXbpFee Lighter RHbpOrdersPrice spread, now +0.180%Rate

Funding earned: $163.8
Price spread: +0.180% → +0.162%: $1.81
Slippage, 4 orders: −$15.03
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $140.57
Costs to cover: 0.250%
Break-even: 1.0 days

Slippage from OKX: live order book, 2 min ago; Lighter RH: 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 OKX live order book, 2 min ago	1.15 bp	8.3 bp −$8	13.1 bp −$131	30.6 bp −$3,057	doesn't fit
Sell Lighter RH live order book, 2 min ago	2.54 bp	5.5 bp −$5	14.7 bp −$147	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	4.3274	−0.176%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3393	+0.098%	$107K	$69K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3300	−0.115%	$162K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.475%	$578	$301K	12x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0056%	1h	4.3361	+0.025%	$2.3M	$15.8M	50x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3210	−0.323%	$109K	$505K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3431	+0.187%	$266.2M	$1.09B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3374	+0.055%	$214.7M	$428.4M	75x	as long as short
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.3350	long leg	$61.4M	$291.2M	50x
Bulk NEAR-USD	+0.0100%	1h	4.3250	−0.230%	$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	4.3364	+0.032%	$32.0M	$61.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3430	+0.185%	$73.9M	$145.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3410	+0.138%	$53.8M	$46.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3365	+0.035%	$71.5M	$128.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3370	+0.046%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3627	+0.639%	$8.4M	$17.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3622	+0.627%	$255K	$947K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3500	+0.346%	$1.4M	$1.5M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3640	+0.669%	$168K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3298	−0.120%	$276K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3349	−0.002%	$57K	$246K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3380	+0.069%	$2K	$1.4M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3410	+0.138%	$471K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3300	−0.115%	$3.7M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3349	−0.003%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3336	−0.032%	$201K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3260	−0.208%	$13.4M	$32.1M	75x	as long as short
Pacifica NEAR	+0.0263%	1h	4.3405	+0.128%	$407K	$1.3M	10x	as long as short
Kalshi KXNEARPERP	+0.0276%	8h	4.3240	−0.254%	$873K	$23.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0323% / S −0.0198%	1h	4.3269	−0.188%	$233K	—	100x	as long as short
Aster NEARUSDT	+0.0331%	8h	4.3419	+0.159%	$2.9M	$5.5M	50x	as long as short
SoDEX NEAR-USD	+0.0361%	1h	4.3305	−0.104%	$6K	$53K	10x	as long as short
01 Exchange NEARUSD	+0.0520%	1h	4.3250	−0.231%	$13K	$7K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0570%	1h	4.3322	−0.065%	$1.3M	$6.7M	20x	as long as short
Nado NEAR-PERP	+0.0591%	1h	4.3269	−0.186%	$1.8M	$3.1M	10x	as long as short
Hyperliquid NEAR	+0.0599%	1h	4.3397	+0.108%	$355.3M	$313.8M	10x	as long as short
Extended NEAR-USD	+0.0624%	1h	4.3355	+0.012%	$3.8M	$20.0M	25x	as long as short
Arcus NEAR-USD	+0.0627%	1h	4.3400	+0.115%	$213K	$1.6M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0711%	1h	4.3317	−0.077%	$7.6M	$39.3M	50x	as long as short
Lighter RH NEARshort	+0.0880%	1h	4.3428	+0.180%	$1.5M	$7.4M	10x
Phoenix NEAR	+0.0941%	1h	4.3721	+0.856%	$1.8M	$2.8M	10x	as long as short
Lighter NEAR	+0.1104%	1h	4.3445	+0.219%	$17.5M	$25.0M	15x	as long as short
RISEx NEAR/USDC	+0.1162%	1h	4.3394	+0.102%	$686K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1555%	1h	4.3415	+0.150%	$5K	$13K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1667%	1h	4.3375	+0.058%	$1.9M	$9.4M	25x	as long as short