Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Phemex against Pacifica+0.179%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 3 days (all we have)−0.083%−$8 · spread now +0.179%, 7d avg −0.025%

Together, before fees−0.179%+ Points / potential airdropPacifica: Active · farm board−$18 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 0.204% dearer against Pacifica than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica NEAR	4.1725	0.0100	pay 0.0013% / 1h	31m 32s	$361K	$1.2M	10x
Short	Phemex NEARUSDT	4.1800	0.0100	get 0.0100% / 8h	1h 31m	$3.8M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.179%Rate

Funding earned: $0
Price spread: +0.179% → −0.025%: $20.41
Slippage, 4 orders: −$34.39
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$33.98
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from Pacifica: 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 Pacifica live order book, 2 min ago	0.48 bp	4.8 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	4.78 bp	18.7 bp −$19	47.8 bp −$478	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	4.1639	−0.208%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1733	+0.019%	$2.1M	$12.7M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.755%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1725	−0.001%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1731	+0.014%	$430K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1644	−0.195%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.1820	+0.227%	$7.6M	$36.8M	50x	as long as short
01 Exchange NEARUSD	+0.0088%	1h	4.1717	−0.020%	$12K	$7K	10x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1762	+0.088%	$1.5M	$6.9M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1690	−0.084%	$111K	$482K	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1797	+0.172%	$53K	$158K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1707	−0.044%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1770	+0.106%	$2.9M	$5.7M	50x	as long as short
Pacifica NEARlong	+0.0100%	1h	4.1725	long leg	$361K	$1.2M	10x
Binance NEARUSDT	+0.0100%	8h	4.1693	−0.077%	$238.3M	$1.07B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.1664	−0.147%	$212.5M	$423.1M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1670	−0.132%	$57.4M	$275.6M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1720	−0.013%	$310K	$1.6M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.1500	−0.540%	$236K	$4K	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1709	−0.039%	$29.9M	$57.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1660	−0.156%	$81.9M	$141.7M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1680	−0.108%	$54.9M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1645	−0.192%	$68.9M	$125.4M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.1620	−0.252%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1530	−0.467%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1758	+0.079%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1831	+0.254%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1730	+0.011%	$174K	$793K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1700	−0.060%	$206K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1800	+0.179%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1788	+0.150%	$5K	$46K	10x	as long as short
Phemex NEARUSDTshort	+0.0100%	8h	4.1800	+0.179%	$3.8M	$8.2M	50x
Extended NEAR-USD	+0.0104%	1h	4.1661	−0.155%	$3.8M	$14.7M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1786	+0.145%	$201K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1740	+0.035%	$12.2M	$33.2M	75x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0252%	1h	4.1825	+0.239%	$1.8M	$2.2M	25x	as long as short
Hyperliquid NEAR	+0.0309%	1h	4.1720	−0.013%	$352.2M	$298.8M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1710	−0.036%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1640	−0.205%	$281K	—	100x	as long as short
Lighter NEAR	+0.0408%	1h	4.1789	+0.153%	$15.9M	$23.2M	15x	as long as short
Backpack NEAR_USDC_PERP	+0.0439%	1h	4.1796	+0.170%	$1.2M	$5.7M	20x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1800	+0.179%	$1.7M	$2.7M	10x	as long as short
Nado NEAR-PERP	+0.0547%	1h	4.1680	−0.108%	$1.8M	$3.5M	10x	as long as short
Aftermath Perps NEARUSD	+0.0854%	1h	4.1733	+0.019%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0981%	8h	4.1860	+0.323%	$448K	$3.6M	75x	as long as short