Funding arb · Price arb /

NEAR

all NEAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0137%/8h= +15.1% APRpaid last 24h +0.006%

Price spread now: Pacifica against Phemex+0.098%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.098%, 7d avg +0.026%

Together, before fees+0.027%+ Points / potential airdropPacifica: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Pacifica is 0.071% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.3090	−0.0037	get 0.0037% / 8h	7h 09m	$3.8M	$8.4M	50x
Short	Pacifica NEAR	4.3132	0.0100	get 0.0013% / 1h	9m 30s	$401K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.098%Rate

Funding earned: $28.87
Price spread: +0.098% → +0.026%: $7.15
Slippage, 4 orders: −$56.77
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$40.75
Costs to cover: 0.768%
Break-even: 16.9 days

Slippage from Phemex: live order book, 4 min ago; Pacifica: live order book, 4 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	10.36 bp	25.8 bp −$26	50.2 bp −$502	doesn't fit	doesn't fit
Sell Pacifica live order book, 4 min ago	0.12 bp	16.4 bp −$16	doesn't fit	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	4.3278	+0.435%	$2K	—	20x	as long as short
Kraken Futures PF_NEARUSD	−0.0130%	1h	4.3128	+0.089%	$7.9M	$38.0M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.3396	+0.710%	$2.3M	$13.0M	50x	as long as short
Phemex NEARUSDTlong	−0.0037%	8h	4.3090	long leg	$3.8M	$8.4M	50x
dYdX NEAR-USD	0.0000%	1h	4.3138	+0.112%	$112K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3164	+0.172%	$345K	$18.7M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3303	+0.495%	$205K	—	150x	as long as short
Variational Omni NEAR	+0.0010%	8h	4.3248	+0.366%	$8.2M	$18.9M	—	as long as short
01 Exchange NEARUSD	+0.0032%	1h	4.3271	+0.420%	$13K	$7K	10x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.899%	$578	$302K	12x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex NEARUSDT	+0.0096%	1h	4.3300	+0.487%	$115K	$474K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.3319	+0.531%	$57K	$162K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0100%	8h	4.3170	+0.185%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.3204	+0.264%	$3.0M	$5.8M	50x	as long as short
Pacifica NEARshort	+0.0100%	1h	4.3132	+0.098%	$401K	$1.2M	10x
Binance NEARUSDT	+0.0100%	8h	4.3320	+0.534%	$258.6M	$1.05B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3288	+0.460%	$219.0M	$414.8M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3280	+0.441%	$61.1M	$278.6M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3250	+0.371%	$205K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3083	−0.015%	$245K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3292	+0.469%	$31.1M	$60.9M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3300	+0.487%	$75.9M	$141.8M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3310	+0.511%	$56.2M	$42.6M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3293	+0.471%	$72.1M	$122.3M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.3310	+0.511%	—	$141.9M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.3305	+0.498%	$258K	$1.1M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3459	+0.857%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3340	+0.580%	$181K	$775K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3316	+0.524%	$198K	$3.4M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3180	+0.209%	$1K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3090	0.000%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3180	+0.209%	$455K	$3.7M	75x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3185	+0.221%	$3.8M	$17.3M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3108	+0.043%	$201K	$31K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0214%	1h	4.3134	+0.102%	$1.9M	$3.8M	25x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.3230	+0.325%	$12.9M	$27.7M	75x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0375% / S −0.0307%	1h	4.3100	+0.022%	$275K	—	100x	as long as short
Hyperliquid NEAR	+0.0393%	1h	4.3373	+0.657%	$368.1M	$300.8M	10x	as long as short
Nado NEAR-PERP	+0.0426%	1h	4.3285	+0.453%	$1.9M	$3.1M	10x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.3305	+0.499%	$404K	$1.2M	10x	as long as short
Lighter RH NEAR	+0.0472%	1h	4.3202	+0.260%	$1.6M	$7.0M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0482%	1h	4.3143	+0.123%	$1.3M	$5.9M	20x	as long as short
Phoenix NEAR	+0.0499%	1h	4.3638	+1.272%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1495%	1h	4.3313	+0.517%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1784%	1h	4.3240	+0.349%	$17.3M	$24.7M	15x	as long as short