Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0747%/8h= −81.8% APRpaid last 24h −0.008%

Price spread now: GRVT against Pacifica−1.018%112s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.539% of the position

Long on Pacifica Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 7 days+1.055%+$106 · spread now −1.018%, 7d avg −0.012%

Together, before fees+1.022%+ Points / potential airdropPacifica: Active · GRVT: Active · farm board+$102 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and GRVT is 1.006% cheaper against Pacifica than usual: you would sell low and buy high (−$101 if the spread goes back to its 7-day average of −0.012%). Swap the legs. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.033% in total (about -1.7% 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	Pacifica NEAR	4.3505	0.0847	pay 0.0106% / 1h	19m 42s	$399K	$1.3M	10x
Short	GRVT NEAR_USDT_Perp	4.3062	0.0100	get 0.0100% / 8h	2h 19m	$1.4M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Pacifica. 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 PacificabpFee GRVTbpOrdersPrice spread, now −1.018%Rate

Funding earned: −$156.81
Price spread: −1.018% → −0.012%: −$100.58
Slippage, 4 orders: −$36.92
Fee Pacifica: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$311.31
Costs to cover: 0.539%
Break-even: never at this rate

Slippage from Pacifica: live order book, 4 min ago; GRVT: 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 Pacifica live order book, 4 min ago	0.12 bp	5.3 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	2.32 bp	25.6 bp −$26	37.6 bp −$376	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	4.3394	−0.255%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3492	−0.030%	$107K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3389	−0.268%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.816%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3390	−0.265%	$114K	$497K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3506	+0.002%	$217.8M	$419.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3520	+0.034%	$61.1M	$288.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3050	−1.047%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3474	−0.072%	$33.0M	$60.2M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3520	+0.034%	$78.7M	$145.0M	200x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NEARUSDTM	+0.0100%	8h	4.3490	−0.035%	$52.5M	$45.9M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3488	−0.040%	$71.8M	$127.1M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3490	−0.035%	—	$6.7M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.3197	−0.708%	$8.4M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3029	−1.096%	$259K	$956K	20x	as long as short
GRVT NEAR_USDT_Perpshort	+0.0100%	8h	4.3062	−1.018%	$1.4M	$1.5M	10x
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3409	−0.221%	$266K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3454	−0.118%	$57K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3510	+0.011%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3550	+0.103%	$469K	$4.0M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3460	−0.104%	$3.6M	$8.3M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3445	−0.138%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3456	−0.113%	$202K	$37K	3x	as long as short
Binance NEARUSDT	+0.0105%	8h	4.3537	+0.073%	$266.5M	$1.08B	75x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3270	−0.541%	$13.4M	$31.7M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.3480	−0.058%	$2.3M	$16.2M	50x	as long as short
Kalshi KXNEARPERP	+0.0298%	8h	4.3399	−0.244%	$941K	$24.6M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0312% / S −0.0201%	1h	4.3384	−0.280%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.3508	+0.006%	$2.8M	$5.3M	50x	as long as short
ApeX Omni NEARUSDT	+0.0346%	1h	4.3030	−1.093%	$165K	$795K	50x	as long as short
Nado NEAR-PERP	+0.0385%	1h	4.3395	−0.254%	$1.7M	$3.2M	10x	as long as short
Extended NEAR-USD	+0.0520%	1h	4.3475	−0.070%	$3.7M	$19.5M	25x	as long as short
SoDEX NEAR-USD	+0.0580%	1h	4.3425	−0.185%	$6K	$52K	10x	as long as short
Hyperliquid NEAR	+0.0662%	1h	4.3511	+0.013%	$356.4M	$309.5M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0685%	1h	4.3478	−0.063%	$1.3M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0728%	1h	4.3421	−0.194%	$7.4M	$38.9M	50x	as long as short
01 Exchange NEARUSD	+0.0744%	1h	4.3453	−0.120%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3520	+0.034%	$225K	$1.6M	10x	as long as short
Pacifica NEARlong	+0.0847%	1h	4.3505	long leg	$399K	$1.3M	10x
Lighter NEAR	+0.0928%	1h	4.3537	+0.073%	$17.0M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3267	−0.548%	$1.8M	$2.5M	10x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.3527	+0.050%	$1.5M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3518	+0.029%	$695K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1340%	1h	4.3060	−1.024%	$5K	$12K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1501%	1h	4.3475	−0.070%	$1.9M	$11.2M	25x	as long as short