Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Phemex−0.103%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$770.766% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.842%−$84 · spread now −0.103%, 7d avg −0.026%

Together, before fees−0.838%−$84 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: Bitget is 0.077% cheaper against Phemex than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.4480	0.0100	pay 0.0100% / 8h	5h 35m	$3.9M	$8.1M	50x
Short	Bitget NEARUSDT	4.4434	0.0100	get 0.0100% / 8h	5h 35m	$73.2M	$126.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → −0.026%: −$7.75
Slippage, 4 orders: −$52.6
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$84.35
Costs to cover: 0.766%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Bitget: 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 Phemex live order book, 4 min ago	7.97 bp	21.2 bp −$21	48.2 bp −$482	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.23 bp	9.7 bp −$10	17.3 bp −$173	34.1 bp −$3,407	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	4.4379	−0.228%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4381	−0.223%	$2.2M	$14.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4367	−0.255%	$109K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4395	−0.191%	$660K	$19.5M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.4451	−0.065%	$201K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.902%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4390	−0.202%	$116K	$488K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4382	−0.220%	$419K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4508	+0.064%	$269.8M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4480	0.000%	$224.1M	$418.4M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4420	−0.135%	$63.4M	$294.0M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4421	−0.133%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4441	−0.088%	$32.0M	$62.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4480	0.000%	$76.4M	$142.0M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4510	+0.067%	$56.1M	$44.2M	75x	as long as short
Bitget NEARUSDTshort	+0.0100%	8h	4.4434	−0.103%	$73.2M	$126.5M	75x
BingX NEAR-USDC	+0.0100%	8h	4.4450	−0.067%	—	$6.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4296	−0.413%	$8.7M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3985	−1.113%	$264K	$987K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4104	−0.845%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4449	−0.070%	$237K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4478	−0.004%	$61K	$195K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4460	−0.045%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4470	−0.022%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4540	+0.135%	$460K	$3.9M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.4480	long leg	$3.9M	$8.1M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.4383	−0.218%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.4460	−0.046%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4505	+0.056%	$207K	$34K	3x	as long as short
ApeX Omni NEARUSDT	+0.0186%	1h	4.3960	−1.169%	$200K	$779K	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4560	+0.180%	$13.8M	$31.6M	75x	as long as short
Aster NEARUSDT	+0.0228%	8h	4.4459	−0.047%	$3.0M	$5.3M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0245%	1h	4.4421	−0.133%	$261K	—	100x	as long as short
Nado NEAR-PERP	+0.0382%	1h	4.4401	−0.176%	$1.9M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.4453	−0.061%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4430	−0.112%	$211K	$1.7M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0686%	1h	4.4518	+0.085%	$1.4M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0693%	1h	4.4482	+0.004%	$8.3M	$41.0M	50x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0739%	1h	4.4525	+0.101%	$2.0M	$4.4M	25x	as long as short
Hyperliquid NEAR	+0.0818%	1h	4.4516	+0.081%	$375.3M	$304.6M	10x	as long as short
Lighter RH NEAR	+0.0832%	1h	4.4543	+0.142%	$1.7M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4143	−0.758%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4426	−0.121%	$562K	$1.3M	10x	as long as short
Lighter NEAR	+0.1424%	1h	4.4569	+0.201%	$17.8M	$25.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1718%	1h	4.4092	−0.872%	$6K	$12K	10x	as long as short