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: OKX against Phemex+0.164%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$700.700% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)−0.312%−$31 · spread now +0.164%, 7d avg −0.048%

Together, before fees−0.259%−$26 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: OKX is 0.212% dearer against Phemex than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.2720	0.0100	pay 0.0100% / 8h	7h 28m	$3.8M	$8.6M	50x
Short	OKX NEAR-USDT-SWAP	4.2790	0.0100	get 0.0100% / 8h	7h 28m	$60.1M	$278.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.164%Rate

Funding earned: $0
Price spread: +0.164% → −0.048%: $21.18
Slippage, 4 orders: −$48.04
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$48.86
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	10.64 bp	29.2 bp −$29	51.2 bp −$512	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.18 bp	8.0 bp −$8	21.4 bp −$214	50.2 bp −$5,018	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	4.2780	+0.140%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0132%	1h	4.2728	+0.018%	$7.2M	$37.4M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2777	+0.133%	$2.2M	$12.9M	50x	as long as short
01 Exchange NEARUSD	−0.0024%	1h	4.2901	+0.424%	$13K	$7K	10x	as long as short
Bybit NEARUSDT	−0.0021%	8h	4.2796	+0.178%	$216.2M	$415.6M	75x	as long as short
Variational Omni NEAR	−0.0005%	8h	4.2608	−0.261%	$8.0M	$18.7M	—	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2776	+0.131%	$111K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2838	+0.276%	$416K	$18.5M	2.2x	as long as short
Gate NEAR_USDT	+0.0003%	8h	4.2772	+0.122%	$30.7M	$59.5M	75x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2751	+0.074%	$203K	—	150x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.066%	$578	$302K	12x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0054%	1h	4.2712	−0.019%	$1.9M	$3.4M	25x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2890	+0.398%	$114K	$482K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2700	−0.047%	$57K	$193K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2793	+0.172%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2798	+0.182%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2800	+0.186%	$395K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2790	+0.164%	$253.3M	$1.06B	75x	as long as short
OKX NEAR-USDT-SWAPshort	+0.0100%	8h	4.2790	+0.164%	$60.1M	$278.0M	50x
Arcus NEAR-USD	+0.0100%	1h	4.2810	+0.211%	$196K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2709	−0.025%	$243K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2780	+0.140%	$76.8M	$140.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2820	+0.234%	$56.2M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2794	+0.173%	$70.9M	$124.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.2790	+0.164%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2606	−0.267%	$254K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2603	−0.274%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2320	−0.936%	$177K	$788K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2835	+0.269%	$206K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2860	+0.328%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2700	−0.047%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2990	+0.632%	$461K	$3.6M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.2720	long leg	$3.8M	$8.6M	50x
Extended NEAR-USD	+0.0104%	1h	4.2788	+0.160%	$3.8M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2685	−0.082%	$199K	$28K	3x	as long as short
Hyperliquid NEAR	+0.0157%	1h	4.2821	+0.237%	$359.1M	$304.9M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2730	+0.023%	$13.0M	$28.1M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0306%	1h	4.2745	+0.060%	$272K	—	100x	as long as short
Lighter RH NEAR	+0.0376%	1h	4.2837	+0.274%	$1.6M	$6.9M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0409%	1h	4.2813	+0.218%	$1.3M	$5.8M	20x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2921	+0.471%	$407K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0459%	1h	4.2812	+0.215%	$1.9M	$3.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2669	−0.119%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1313%	1h	4.2608	−0.262%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1904%	1h	4.2870	+0.351%	$17.1M	$24.3M	15x	as long as short