Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against OKX+0.022%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$550.553% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 4 days (all we have)+0.388%+$39 · spread now +0.022%, 7d avg +0.052%

Together, before fees+0.333%+$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.029% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NEAR-USDT-SWAP	4.4700	0.0100	pay 0.0100% / 8h	5h 54m	$63.9M	$297.6M	50x
Short	Phemex NEARUSDT	4.4710	0.0100	get 0.0100% / 8h	5h 54m	$3.4M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → +0.052%: −$2.93
Slippage, 4 orders: −$33.34
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$58.27
Costs to cover: 0.553%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago	1.11 bp	8.7 bp −$9	17.6 bp −$176	49.3 bp −$4,928	doesn't fit
Sell Phemex live order book, 3 min ago	6.68 bp	18.9 bp −$19	43.1 bp −$431	doesn't fit	doesn't fit

NEAR on 45 exchanges

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
Kraken Futures PF_NEARUSD	−0.0237%	1h	4.4650	−0.112%	$7.4M	$37.0M	50x	as long as short
Reya NEARRUSDPERP	−0.0171%	1h	4.4694	−0.013%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4661	−0.087%	$110K	$53K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4758	+0.130%	$763K	$26.2M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.4937	+0.530%	$168K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−7.360%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4720	+0.045%	$123K	$505K	50x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.4720	+0.045%	$2.6M	$4.7M	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4734	+0.075%	$271.5M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4714	+0.031%	$231.1M	$428.6M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAPlong	+0.0100%	8h	4.4700	long leg	$63.9M	$297.6M	50x
Bulk NEAR-USD	+0.0100%	1h	4.4950	+0.559%	$268K	$12K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4695	−0.011%	$39.8M	$61.6M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4720	+0.045%	$76.3M	$167.1M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4680	−0.045%	$53.0M	$44.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4696	−0.009%	$74.1M	$127.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.4690	−0.022%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4874	+0.388%	$8.9M	$16.8M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4966	+0.595%	$266K	$867K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4966	+0.595%	$1.5M	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5130	+0.962%	$168K	$825K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4733	+0.074%	$280K	$4.0M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4662	−0.085%	$58K	$269K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4740	+0.089%	$2K	$1.3M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4660	−0.089%	$5K	$40K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4670	−0.067%	$463K	$3.7M	75x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.4710	+0.022%	$3.4M	$7.9M	50x
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4700	0.000%	$32K	$51	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4685	−0.033%	$3.7M	$15.0M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4639	−0.136%	$208K	$38K	3x	as long as short
Lighter NEAR	+0.0152%	1h	4.4712	+0.026%	$17.5M	$23.3M	15x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4690	−0.022%	$12.8M	$32.5M	75x	as long as short
Hyperliquid NEAR	+0.0254%	1h	4.4733	+0.074%	$360.5M	$314.3M	10x	as long as short
01 Exchange NEARUSD	+0.0264%	1h	4.4745	+0.101%	$13K	$4K	10x	as long as short
Nado NEAR-PERP	+0.0270%	1h	4.4735	+0.078%	$1.7M	$3.1M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0340% / S −0.0226%	1h	4.4701	+0.003%	$261K	—	100x	as long as short
Arcus NEAR-USD	+0.0343%	1h	4.4760	+0.134%	$226K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.0489%	1h	4.4738	+0.084%	$634K	$1.6M	10x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0504%	1h	4.4705	+0.011%	$2.3M	$17.6M	50x	as long as short
Backpack NEAR_USDC_PERP	+0.0528%	1h	4.4765	+0.145%	$1.1M	$7.0M	20x	as long as short
Lighter RH NEAR	+0.0536%	1h	4.4737	+0.083%	$1.6M	$5.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0579%	1h	4.4678	−0.049%	$1.9M	$13.0M	25x	as long as short
Phoenix NEAR	+0.0851%	1h	4.5045	+0.772%	$1.7M	$2.7M	10x	as long as short
Pacifica NEAR	+0.0851%	1h	4.4697	−0.008%	$420K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1175%	1h	4.4943	+0.543%	$6K	$6K	10x	as long as short