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: KuCoin against Phemex+0.159%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$820.820% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.373%−$37 · spread now +0.159%, 7d avg +0.013%

Together, before fees−0.343%−$34 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: KuCoin is 0.146% dearer against Phemex than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3970	0.0100	pay 0.0100% / 8h	1h 27m	$3.6M	$8.2M	50x
Short	KuCoin NEARUSDTM	4.4040	0.0100	get 0.0100% / 8h	1h 27m	$53.4M	$46.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.013%: $14.65
Slippage, 4 orders: −$58
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$67.36
Costs to cover: 0.820%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; KuCoin: 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, 1 min ago	3.42 bp	22.1 bp −$22	59.3 bp −$593	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.28 bp	15.4 bp −$15	31.3 bp −$313	92.8 bp −$9,277	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	4.3933	−0.084%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.4037	+0.153%	$108K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.3910	−0.136%	$164K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.822%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.4090	+0.273%	$112K	$492K	50x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.4043	+0.166%	$223.2M	$434.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.4030	+0.136%	$62.3M	$295.5M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.4350	+0.864%	$253K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.4026	+0.127%	$35.4M	$61.5M	75x	as long as short
KuCoin NEARUSDTMshort	+0.0100%	8h	4.4040	+0.159%	$53.4M	$46.1M	75x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NEARUSDT	+0.0100%	8h	4.4025	+0.125%	$72.4M	$127.4M	75x	as long as short
Variational Omni NEAR	+0.0100%	8h	4.4217	+0.562%	$8.8M	$18.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4018	+0.110%	$257K	$914K	20x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4010	+0.091%	$166K	$805K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.4088	+0.268%	$296K	$4.1M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3958	−0.027%	$59K	$236K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.4010	+0.091%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.4030	+0.136%	$462K	$3.9M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.3970	long leg	$3.6M	$8.2M	50x
Paradex NEAR-USD-PERP	+0.0105%	8h	4.4038	+0.154%	$32K	$585	10x	as long as short
GRVT NEAR_USDT_Perp	+0.0113%	8h	4.4260	+0.660%	$1.5M	$1.5M	10x	as long as short
Aevo NEAR-PERP	+0.0128%	1h	4.3975	+0.011%	$204K	$38K	3x	as long as short
SoDEX NEAR-USD	+0.0179%	1h	4.3945	−0.057%	$5K	$52K	10x	as long as short
BingX NEAR-USDT	+0.0193%	8h	4.4030	+0.136%	—	$144.0M	—	as long as short
MEXC NEAR_USDT	+0.0200%	8h	4.4070	+0.227%	$79.3M	$148.6M	200x	as long as short
Binance NEARUSDT	+0.0201%	8h	4.4108	+0.314%	$269.1M	$1.08B	75x	as long as short
Extended NEAR-USD	+0.0208%	1h	4.4039	+0.158%	$3.7M	$18.4M	25x	as long as short
Kalshi KXNEARPERP	+0.0259%	8h	4.3874	−0.218%	$1.0M	$25.0M	2.2x	as long as short
Aster NEARUSDT	+0.0306%	8h	4.4072	+0.232%	$2.8M	$5.0M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0314% / S −0.0198%	1h	4.3934	−0.081%	$233K	—	100x	as long as short
BloFin NEAR-USDT	+0.0320%	8h	4.3920	−0.114%	$13.7M	$32.4M	75x	as long as short
Backpack NEAR_USDC_PERP	+0.0417%	1h	4.3978	+0.018%	$1.4M	$6.8M	20x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0424%	1h	4.3998	+0.064%	$2.3M	$16.6M	50x	as long as short
01 Exchange NEARUSD	+0.0440%	1h	4.4061	+0.207%	$13K	$7K	10x	as long as short
Hyperliquid NEAR	+0.0454%	1h	4.4068	+0.223%	$359.6M	$314.9M	10x	as long as short
Nado NEAR-PERP	+0.0604%	1h	4.4050	+0.182%	$1.7M	$3.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0664%	1h	4.3932	−0.086%	$7.3M	$38.3M	50x	as long as short
Lighter NEAR	+0.0816%	1h	4.4091	+0.275%	$17.3M	$25.2M	15x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0866%	1h	4.3974	+0.009%	$1.9M	$13.1M	25x	as long as short
Arcus NEAR-USD	+0.0880%	1h	4.4070	+0.227%	$223K	$1.6M	10x	as long as short
Lighter RH NEAR	+0.0904%	1h	4.4067	+0.221%	$1.5M	$6.7M	10x	as long as short
Phoenix NEAR	+0.1003%	1h	4.4297	+0.744%	$1.8M	$2.5M	10x	as long as short
Pacifica NEAR	+0.1187%	1h	4.4046	+0.174%	$420K	$1.4M	10x	as long as short
RISEx NEAR/USDC	+0.1259%	1h	4.4026	+0.128%	$664K	$1.4M	10x	as long as short
Aftermath Perps NEARUSD	+0.1278%	1h	4.4219	+0.566%	$5K	$12K	10x	as long as short