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: Gate against Phemex+0.258%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

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

costs, in and out, $10k−$860.862% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−1.148%−$115 · spread now +0.258%, 7d avg −0.035%

Together, before fees−1.114%−$111 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: Gate is 0.293% dearer against Phemex than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3850	0.0100	pay 0.0100% / 8h	5h 37m	$3.8M	$8.1M	50x
Short	Gate NEAR_USDT	4.3963	0.0100	get 0.0100% / 8h	5h 37m	$31.6M	$62.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.258%Rate

Funding earned: $0
Price spread: +0.258% → −0.035%: $29.32
Slippage, 4 orders: −$59.24
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$56.92
Costs to cover: 0.862%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Gate: live order book, 1 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, 6 min ago	4.55 bp	27.2 bp −$27	48.1 bp −$481	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.74 bp	15.0 bp −$15	21.7 bp −$217	33.8 bp −$3,379	52.3 bp −$26.2K

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	4.3808	−0.095%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3808	−0.096%	$2.2M	$14.2M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3921	+0.161%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3858	+0.018%	$588K	$19.4M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3851	+0.002%	$199K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.564%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3780	−0.160%	$115K	$488K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3943	+0.213%	$415K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3950	+0.228%	$267.4M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3950	+0.228%	$221.9M	$417.5M	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	4.3950	+0.228%	$62.6M	$290.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3650	−0.456%	$249K	−$0	10x	as long as short
Gate NEAR_USDTshort	+0.0100%	8h	4.3963	+0.258%	$31.6M	$62.2M	75x
MEXC NEAR_USDT	+0.0100%	8h	4.3930	+0.182%	$75.9M	$141.5M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3950	+0.228%	$55.4M	$44.1M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3972	+0.278%	$72.4M	$126.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3970	+0.274%	—	$144.6M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4286	+0.995%	$8.6M	$18.2M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4253	+0.918%	$265K	$986K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4147	+0.676%	$1.5M	$1.4M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3823	−0.062%	$235K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3869	+0.043%	$60K	$194K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3930	+0.182%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3875	+0.057%	$5K	$50K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3920	+0.160%	$454K	$3.9M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.3850	long leg	$3.8M	$8.1M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3956	+0.243%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3961	+0.252%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3904	+0.123%	$204K	$34K	3x	as long as short
Aster NEARUSDT	+0.0214%	8h	4.3955	+0.240%	$3.0M	$5.5M	50x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3840	−0.023%	$13.5M	$31.0M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0350% / S −0.0245%	1h	4.3851	+0.003%	$257K	—	100x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3813	−0.084%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3990	+0.319%	$209K	$1.7M	10x	as long as short
ApeX Omni NEARUSDT	+0.0412%	1h	4.4020	+0.388%	$200K	$779K	50x	as long as short
Nado NEAR-PERP	+0.0415%	1h	4.3775	−0.171%	$1.9M	$3.1M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0571%	1h	4.3908	+0.132%	$1.9M	$4.3M	25x	as long as short
Backpack NEAR_USDC_PERP	+0.0661%	1h	4.3911	+0.139%	$1.4M	$6.6M	20x	as long as short
Kraken Futures PF_NEARUSD	+0.0702%	1h	4.3890	+0.091%	$8.2M	$41.0M	50x	as long as short
Hyperliquid NEAR	+0.0783%	1h	4.3997	+0.335%	$370.3M	$303.7M	10x	as long as short
Lighter RH NEAR	+0.0800%	1h	4.3998	+0.338%	$1.6M	$6.9M	10x	as long as short
Phoenix NEAR	+0.0855%	1h	4.4223	+0.851%	$1.8M	$2.7M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3986	+0.311%	$558K	$1.3M	10x	as long as short
Lighter NEAR	+0.1448%	1h	4.4013	+0.372%	$17.6M	$25.8M	15x	as long as short
Aftermath Perps NEARUSD	+0.1748%	1h	4.3944	+0.215%	$6K	$12K	10x	as long as short