Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Binance against Phemex−0.072%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

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

costs, in and out, $10k−$500.504% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 3 days (all we have)−0.264%−$26 · spread now −0.072%, 7d avg −0.002%

Together, before fees−0.238%−$24 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: Binance is 0.070% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.1740	0.0100	pay 0.0100% / 8h	1h 26m	$3.8M	$8.2M	50x
Short	Binance NEARUSDT	4.1710	0.0100	get 0.0100% / 8h	1h 26m	$238.9M	$1.07B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.002%: −$6.97
Slippage, 4 orders: −$28.44
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$57.42
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Binance: 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 Phemex live order book, 2 min ago	4.80 bp	19.7 bp −$20	43.1 bp −$431	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.20 bp	6.2 bp −$6	10.6 bp −$106	24.1 bp −$2,413	87.2 bp −$43.6K

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	4.1683	−0.137%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0032%	1h	4.1674	−0.158%	$2.1M	$12.6M	50x	as long as short
Injective NEAR/USDC PERP	−0.0002%	1h	4.1410	−0.791%	$578	$302K	12x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.1682	−0.138%	$108K	$58K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.1719	−0.050%	$430K	$18.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.1701	−0.093%	$206K	—	150x	as long as short
Kraken Futures PF_NEARUSD	+0.0048%	1h	4.1778	+0.091%	$7.6M	$36.8M	50x	as long as short
Lighter RH NEAR	+0.0096%	1h	4.1778	+0.091%	$1.5M	$7.0M	10x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.1710	−0.072%	$111K	$482K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0099%	8h	4.1746	+0.014%	$53K	$158K	20x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex NEAR-USD-PERP	+0.0100%	8h	4.1694	−0.109%	$30K	$647	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.1756	+0.038%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.1708	−0.077%	$360K	$1.2M	10x	as long as short
Binance NEARUSDTshort	+0.0100%	8h	4.1710	−0.072%	$238.9M	$1.07B	75x
Bybit NEARUSDT	+0.0100%	8h	4.1701	−0.093%	$212.7M	$423.0M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.1700	−0.096%	$57.6M	$275.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.1730	−0.024%	$240K	$1.7M	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.1724	−0.038%	$29.9M	$57.4M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.1730	−0.024%	$82.5M	$141.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.1750	+0.024%	$55.0M	$44.4M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.1715	−0.060%	$69.1M	$125.4M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.1720	−0.048%	—	$136.8M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.1650	−0.216%	$7.7M	$18.4M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.1652	−0.210%	$238K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.1653	−0.208%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.1670	−0.168%	$174K	$794K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.1726	−0.034%	$205K	$3.2M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.1740	0.000%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.1750	+0.024%	$5K	$46K	10x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.1740	long leg	$3.8M	$8.2M	50x
Bulk NEAR-USD	+0.0100%	1h	4.1600	−0.335%	$237K	$2K	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.1699	−0.097%	$3.8M	$14.7M	25x	as long as short
01 Exchange NEARUSD	+0.0104%	1h	4.1766	+0.062%	$12K	$7K	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.1755	+0.036%	$201K	$62K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.1790	+0.120%	$12.3M	$31.7M	75x	as long as short
Hyperliquid NEAR	+0.0354%	1h	4.1779	+0.093%	$352.7M	$299.0M	10x	as long as short
RISEx NEAR/USDC	+0.0364%	1h	4.1761	+0.049%	$410K	$1.2M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0381% / S −0.0328%	1h	4.1702	−0.091%	$281K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0421%	1h	4.1776	+0.086%	$1.8M	$2.2M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0437%	1h	4.1778	+0.091%	$1.2M	$5.7M	20x	as long as short
Nado NEAR-PERP	+0.0542%	1h	4.1705	−0.084%	$1.8M	$3.5M	10x	as long as short
Phoenix NEAR	+0.0542%	1h	4.1861	+0.290%	$1.7M	$2.7M	10x	as long as short
Lighter NEAR	+0.0624%	1h	4.1802	+0.149%	$16.0M	$23.3M	15x	as long as short
Aftermath Perps NEARUSD	+0.0890%	1h	4.1778	+0.092%	$5K	$11K	10x	as long as short
HTX NEAR-USDT	+0.0966%	8h	4.1810	+0.168%	$447K	$3.6M	75x	as long as short