Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0275%/8h= +30.1% APRpaid last 24h +0.094%

Price spread now: Nado against Phemex−0.122%7-day average −0.021% · 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−$64as in the Price arb table

costs, in and out, $10k−$540.542% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.104%+$10 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now −0.122%, 7d avg −0.021%

Together, before fees−0.058%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.101% cheaper against Phemex than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of −0.021%). If the spread goes back, that is −$10 on $10k: about 29 hours of funding at the current rate (+$8 a day). At the pace of the last 3 days (+0.104% in total) that is about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.2930	0.0100	pay 0.0100% / 8h	2h 30m	$3.6M	$8.3M	50x
Short	Nado NEAR-PERP	4.2878	0.0375	get 0.0047% / 1h	30m 41s	$1.7M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.122%Rate

Funding earned: $57.77
Price spread: −0.122% → −0.021%: −$10.11
Slippage, 4 orders: −$35.16
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$6.5
Costs to cover: 0.542%
Break-even: 7.8 days

Slippage from Phemex: live order book, 3 min ago; Nado: live order book, 3 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, 3 min ago	6.98 bp	20.0 bp −$20	43.8 bp −$438	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	0.70 bp	4.4 bp −$4	14.2 bp −$142	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	4.2916	−0.033%	$2K	—	20x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2912	−0.042%	$106K	$68K	10x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0006%	1h	4.2893	−0.086%	$161K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.541%	$578	$301K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2970	+0.093%	$113K	$501K	50x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3002	+0.167%	$262.8M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.2932	+0.005%	$213.9M	$420.4M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2950	+0.047%	$60.4M	$284.9M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2997	+0.157%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.2936	+0.014%	$32.4M	$60.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NEAR_USDT	+0.0100%	8h	4.2980	+0.116%	$76.1M	$143.9M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2960	+0.070%	$51.9M	$45.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2942	+0.028%	$71.0M	$127.1M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2950	+0.047%	—	$143.4M	—	as long as short
Variational Omni NEAR	+0.0100%	8h	4.2878	−0.120%	$8.1M	$18.0M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2962	+0.075%	$259K	$958K	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2949	+0.044%	$1.4M	$1.5M	10x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2929	−0.002%	$262K	$3.9M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.2943	+0.030%	$56K	$243K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2990	+0.140%	$2K	$1.3M	20x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3020	+0.210%	$463K	$4.0M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.2930	long leg	$3.6M	$8.3M	50x
Paradex NEAR-USD-PERP	+0.0101%	8h	4.2941	+0.025%	$31K	$608	10x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2935	+0.012%	$200K	$37K	3x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2960	+0.070%	$13.2M	$31.6M	75x	as long as short
Coinbase International NEAR-PERP-INTX	+0.0256%	1h	4.2982	+0.121%	$2.3M	$15.8M	50x	as long as short
ApeX Omni NEARUSDT	+0.0263%	1h	4.2960	+0.070%	$165K	$795K	50x	as long as short
Kalshi KXNEARPERP	+0.0266%	8h	4.2947	+0.040%	$867K	$24.5M	2.2x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0311% / S −0.0198%	1h	4.2896	−0.079%	$232K	—	100x	as long as short
Aster NEARUSDT	+0.0335%	8h	4.2967	+0.087%	$2.8M	$5.3M	50x	as long as short
Nado NEAR-PERPshort	+0.0375%	1h	4.2878	−0.122%	$1.7M	$3.2M	10x
Extended NEAR-USD	+0.0520%	1h	4.2939	+0.020%	$3.7M	$19.7M	25x	as long as short
SoDEX NEAR-USD	+0.0560%	1h	4.2905	−0.058%	$6K	$53K	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0650%	1h	4.2964	+0.079%	$1.3M	$6.7M	20x	as long as short
Hyperliquid NEAR	+0.0691%	1h	4.2963	+0.077%	$351.1M	$310.2M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0737%	1h	4.2893	−0.085%	$7.4M	$38.9M	50x	as long as short
01 Exchange NEARUSD	+0.0752%	1h	4.3039	+0.254%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0814%	1h	4.3000	+0.163%	$216K	$1.6M	10x	as long as short
Pacifica NEAR	+0.0847%	1h	4.2967	+0.085%	$394K	$1.3M	10x	as long as short
Lighter NEAR	+0.0928%	1h	4.3010	+0.186%	$16.8M	$25.1M	15x	as long as short
Phoenix NEAR	+0.1033%	1h	4.3089	+0.370%	$1.8M	$2.5M	10x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.1079%	1h	4.2933	+0.007%	$1.9M	$11.0M	25x	as long as short
Lighter RH NEAR	+0.1112%	1h	4.3013	+0.193%	$1.5M	$7.4M	10x	as long as short
RISEx NEAR/USDC	+0.1220%	1h	4.3005	+0.174%	$684K	$1.3M	10x	as long as short
Aftermath Perps NEARUSD	+0.1358%	1h	4.2945	+0.036%	$5K	$12K	10x	as long as short