Funding arb · Price arb /

NEAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0271%/8h= −29.7% APRpaid last 24h −0.081%

Price spread now: Reya against Phemex−0.001%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NEARUSDT	4.2750	0.0100	pay 0.0100% / 8h	7h 27m	$3.8M	$8.5M	50x
Short	Reya NEARRUSDPERP	4.2749	−0.0171	pay 0.0021% / 1h	27m 09s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.001%Rate

Funding earned: −$56.88
Price spread: −0.001% → 0.000%: −$0.12
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$75
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Reya: no order-book sample. Net counts fees only.

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, 2 min ago	7.01 bp	27.2 bp −$27	55.2 bp −$552	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 NEARRUSDPERPshort	−0.0171%	1h	4.2749	−0.001%	$2K	—	20x
Kraken Futures PF_NEARUSD	−0.0132%	1h	4.2773	+0.055%	$7.2M	$37.3M	50x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0096%	1h	4.2797	+0.110%	$2.2M	$12.9M	50x	as long as short
01 Exchange NEARUSD	−0.0024%	1h	4.2827	+0.180%	$13K	$7K	10x	as long as short
Variational Omni NEAR	−0.0005%	8h	4.2608	−0.331%	$8.0M	$18.7M	—	as long as short
dYdX NEAR-USD	0.0000%	1h	4.2810	+0.140%	$111K	$64K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.2829	+0.185%	$401K	$18.5M	2.2x	as long as short
Bybit NEARUSDT	+0.0003%	8h	4.2723	−0.063%	$216.0M	$415.8M	75x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.2772	+0.051%	$203K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−3.135%	$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
Gate NEAR_USDT	+0.0061%	8h	4.2761	+0.026%	$30.7M	$59.5M	75x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.2830	+0.187%	$114K	$482K	50x	as long as short
Orderly PERP_NEAR_USDC	+0.0098%	8h	4.2775	+0.058%	$57K	$191K	20x	as long as short
Paradex NEAR-USD-PERP	+0.0099%	8h	4.2806	+0.132%	$31K	$608	10x	as long as short
Aster NEARUSDT	+0.0100%	8h	4.2833	+0.194%	$2.9M	$5.7M	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.2808	+0.135%	$396K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.2790	+0.094%	$253.3M	$1.06B	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.2740	−0.023%	$60.1M	$277.7M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.2840	+0.211%	$196K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.2789	+0.092%	$244K	−$0	10x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.2750	0.000%	$76.6M	$140.4M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.2800	+0.117%	$56.2M	$42.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.2755	+0.012%	$70.8M	$124.2M	75x	as long as short
BingX NEAR-USDT	+0.0100%	8h	4.2760	+0.023%	—	$141.7M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.2763	+0.030%	$255K	$1.2M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.2603	−0.344%	$1.4M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.2810	+0.140%	$179K	$782K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.2824	+0.173%	$206K	$3.5M	10x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.2830	+0.187%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.2780	+0.070%	$5K	$52K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.2890	+0.327%	$457K	$3.6M	75x	as long as short
Phemex NEARUSDTlong	+0.0100%	8h	4.2750	long leg	$3.8M	$8.5M	50x
Extended NEAR-USD	+0.0104%	1h	4.2747	−0.006%	$3.8M	$16.9M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.2764	+0.032%	$199K	$28K	3x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0124%	1h	4.2786	+0.084%	$1.9M	$3.4M	25x	as long as short
Hyperliquid NEAR	+0.0150%	1h	4.2815	+0.152%	$359.1M	$305.0M	10x	as long as short
BloFin NEAR-USDT	+0.0220%	8h	4.2770	+0.047%	$12.9M	$28.1M	75x	as long as short
Lighter RH NEAR	+0.0368%	1h	4.2809	+0.138%	$1.6M	$6.9M	10x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0372% / S −0.0306%	1h	4.2763	+0.031%	$272K	—	100x	as long as short
Backpack NEAR_USDC_PERP	+0.0416%	1h	4.2801	+0.119%	$1.3M	$5.9M	20x	as long as short
RISEx NEAR/USDC	+0.0428%	1h	4.2848	+0.228%	$406K	$1.2M	10x	as long as short
Nado NEAR-PERP	+0.0472%	1h	4.2763	+0.030%	$1.9M	$3.2M	10x	as long as short
Phoenix NEAR	+0.0499%	1h	4.2669	−0.189%	$1.8M	$2.7M	10x	as long as short
Aftermath Perps NEARUSD	+0.1305%	1h	4.2691	−0.139%	$5K	$12K	10x	as long as short
Lighter NEAR	+0.1888%	1h	4.2890	+0.327%	$17.1M	$24.3M	15x	as long as short