Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Phemex−0.138%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−$331as in the Price arb table

costs, in and out, $10k−$3183.179% of the position

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.097%−$10 on $10k

Price spread, last 4 days (all we have)+0.162%+$16 · spread now −0.138%, 7d avg −0.009%

Together, before fees+0.066%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.128% cheaper against Phemex than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.4500	0.0100	pay 0.0100% / 8h	5h 04m	$3.8M	$8.4M	50x
Short	gTrade (Gains Network) NEAR/USD	4.4439	L +0.0004% / S −0.0006%	get 0.0001% / 1h	4m 28s	$166K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.138%Rate

Funding earned: −$19.69
Price spread: −0.138% → −0.009%: −$12.81
Slippage, 4 orders: −$295.94
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$350.44
Costs to cover: 3.179%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 60 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	9.94 bp	19.9 bp −$20	50.0 bp −$500	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 60 min ago	130.01 bp	137.7 bp −$138	1007.8 bp −$10.1K	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	4.4362	−0.309%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.4462	−0.085%	$2.2M	$15.4M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4468	−0.072%	$110K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.4580	+0.180%	$584K	$21.8M	2.2x	as long as short
gTrade (Gains Network) NEAR/USDshort	L +0.0004% / S −0.0006%	1h	4.4439	−0.138%	$166K	—	150x
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−6.944%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4380	−0.270%	$115K	$516K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.4495	−0.012%	$425K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.4377	−0.277%	$272.3M	$1.12B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4321	−0.402%	$222.1M	$428.9M	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	4.4340	−0.360%	$63.5M	$303.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4470	−0.068%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4391	−0.245%	$32.2M	$65.3M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.4430	−0.157%	$75.2M	$150.2M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.4370	−0.292%	$54.9M	$46.2M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.4371	−0.290%	$73.1M	$131.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.4400	−0.225%	—	$147.0M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4486	−0.031%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4994	+1.111%	$270K	$977K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.5311	+1.822%	$1.5M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.5320	+1.843%	$174K	$797K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4400	−0.225%	$256K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.4448	−0.117%	$57K	$237K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4530	+0.067%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.4425	−0.169%	$8K	$53K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4490	−0.022%	$461K	$4.1M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.4500	long leg	$3.8M	$8.4M	50x
Paradex NEAR-USD-PERP	+0.0102%	8h	4.4425	−0.168%	$32K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.4465	−0.079%	$207K	$40K	3x	as long as short
Extended NEAR-USD	+0.0200%	1h	4.4375	−0.280%	$4.0M	$19.4M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.4500	0.000%	$14.0M	$33.4M	75x	as long as short
Aster NEARUSDT	+0.0281%	8h	4.4498	−0.004%	$3.1M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0352% / S −0.0235%	1h	4.4423	−0.172%	$266K	—	100x	as long as short
01 Exchange NEARUSD	+0.0384%	1h	4.4405	−0.213%	$13K	$7K	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0403%	1h	4.4459	−0.092%	$1.9M	$4.5M	25x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.4480	−0.045%	$215K	$1.8M	10x	as long as short
Nado NEAR-PERP	+0.0481%	1h	4.4336	−0.369%	$1.9M	$3.2M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0536%	1h	4.4509	+0.020%	$1.4M	$6.7M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0693%	1h	4.4463	−0.083%	$8.2M	$41.3M	50x	as long as short
Lighter RH NEAR	+0.0696%	1h	4.4511	+0.025%	$1.5M	$7.2M	10x	as long as short
Hyperliquid NEAR	+0.0759%	1h	4.4402	−0.220%	$369.0M	$325.7M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.5453	+2.142%	$1.9M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.4432	−0.154%	$570K	$1.4M	10x	as long as short
Lighter NEAR	+0.1120%	1h	4.4531	+0.070%	$17.9M	$27.1M	15x	as long as short
Aftermath Perps NEARUSD	+0.1646%	1h	4.4963	+1.041%	$6K	$12K	10x	as long as short