Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0215%/8h= +23.5% APRpaid last 24h 0.000%

Price spread now: Bulk against Phemex−0.017%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$870.866% of the position

Long on Phemex Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 3 days (all we have)−0.418%−$42 · spread now −0.017%, 7d avg −0.009%

Together, before fees−0.425%−$43 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.007% in total (about -0.8% 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	Phemex NEARUSDT	4.3250	−0.0115	get 0.0115% / 8h	7h 06m	$3.8M	$8.4M	50x
Short	Bulk NEAR-USD	4.3243	0.0100	get 0.0013% / 1h	6m 42s	$246K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.017%Rate

Funding earned: $45.1
Price spread: −0.017% → −0.009%: −$0.82
Slippage, 4 orders: −$67.6
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$42.32
Costs to cover: 0.866%
Break-even: 13.6 days

Slippage from Phemex: live order book, 2 min ago; Bulk: 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	4.63 bp	36.4 bp −$36	79.1 bp −$791	doesn't fit	doesn't fit
Sell Bulk live order book, 2 min ago	11.59 bp	15.1 bp −$15	15.1 bp −$151	25.1 bp −$2,507	44.6 bp −$22.3K

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	4.3244	−0.014%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0130%	1h	4.3351	+0.233%	$8.0M	$38.0M	50x	as long as short
Phemex NEARUSDTlong	−0.0115%	8h	4.3250	long leg	$3.8M	$8.4M	50x
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3319	+0.160%	$2.2M	$13.0M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3117	−0.308%	$112K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3248	−0.005%	$346K	$18.6M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3280	+0.070%	$159K	—	150x	as long as short
Variational Omni NEAR	+0.0010%	8h	4.3248	−0.005%	$8.2M	$18.9M	—	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.254%	$578	$302K	12x	as long as short
01 Exchange NEARUSD	+0.0040%	1h	4.3234	−0.037%	$13K	$7K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex NEARUSDT	+0.0096%	1h	4.3240	−0.023%	$115K	$474K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.3318	+0.157%	$57K	$162K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3215	−0.081%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3217	−0.076%	$3.0M	$5.8M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3158	−0.214%	$402K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3157	−0.216%	$257.5M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3100	−0.347%	$218.1M	$413.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3090	−0.370%	$61.0M	$275.9M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3260	+0.023%	$205K	$1.7M	10x	as long as short
Bulk NEAR-USDshort	+0.0100%	1h	4.3243	−0.017%	$246K	−$0	10x
Gate NEAR_USDT	+0.0100%	8h	4.3178	−0.166%	$31.0M	$60.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3110	−0.324%	$75.4M	$141.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3200	−0.116%	$56.1M	$42.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3155	−0.220%	$71.9M	$122.0M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3160	−0.208%	—	$141.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3251	+0.003%	$258K	$1.1M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3241	−0.021%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3290	+0.092%	$181K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3270	+0.046%	$198K	$3.4M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3300	+0.116%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3310	+0.139%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3350	+0.231%	$457K	$3.7M	75x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3140	−0.254%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3316	+0.151%	$202K	$31K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3250	0.000%	$13.1M	$27.7M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0307%	1h	4.3282	+0.074%	$276K	—	100x	as long as short
Hyperliquid NEAR	+0.0416%	1h	4.3231	−0.044%	$366.9M	$301.1M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3266	+0.036%	$404K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0429%	1h	4.3240	−0.022%	$1.9M	$3.1M	10x	as long as short
Lighter RH NEAR	+0.0480%	1h	4.3183	−0.155%	$1.6M	$7.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0490%	1h	4.3260	+0.023%	$1.3M	$5.9M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3397	+0.340%	$1.8M	$2.7M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0651%	1h	4.3348	+0.227%	$1.9M	$3.9M	25x	as long as short
Aftermath Perps NEARUSD	+0.1505%	1h	4.3309	+0.137%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1792%	1h	4.3272	+0.051%	$17.3M	$24.7M	15x	as long as short